Shopping Blues🛒🛍️
Navigating E-commerce in Nigeria.
Hello Venturer,
Forget bustling marketplaces, e-commerce has revolutionized business, connecting companies to customers across the globe. Nigeria's e-commerce scene, once nascent, is now booming. Valued at $7.63 billion in 2023, this market is projected to balloon to $13.34 billion by 2028, a staggering 11.82% annual growth rate. The rise of e-commerce has not only transformed business operations, it has also reshaped consumer behavior.
According to Aderonke Ajose-Adeyemi, Founder and CEO, of Losode. “Africa’s e-commerce is still operating at the surface level. We have not yet cracked e-commerce on the continent. There are so many problems that still need to be solved.” Read more.
Despite immense potential and rapid growth, Nigeria's e-commerce industry faces various logistical, technological, and consumer-related challenges that hinder its seamless development and widespread adoption. Join us on Friday, December 15th, at Ventures Africa's Twitter Space to discuss “Navigating E-commerce in Nigeria”.
Our Speaker
Aderonke Ajose-Adeyemi is an experienced tech professional with an Electrical and Electronics Engineering background from Queen Mary University, London. As the Founder and CEO of Losode, she's transformed the platform from a UK-based fashion hub into a dynamic e-commerce solution for African vendors. Aderonke's career of two decades spans major financial services companies globally, reflecting her passion for technology and entrepreneurship. Her current focus is building a robust logistics infrastructure to redefine e-commerce in Africa.
VA Poll
In a recent survey, we asked our audience, "What factors influence your decision to purchase from an online seller in Nigeria?" Competitive prices and a wide product variety seem to be the most significant factors at 38%, followed by positive reviews and brand reputation at 35%. Fast and reliable delivery holds a notable position at 17%, while easy and secure payment methods contribute to a lesser extent at 10%. The data suggest that consumers in Nigeria prioritize affordability, product range, and the reputation of sellers when making online purchases.
LinkedIn Live Audio Event
Bridging the gap between social good and profit, social enterprises serve as powerful engines for development across Africa, unlocking inclusivity in businesses while demonstrating the financial muscle of their models. However, their quest for resources to fuel growth and create jobs is often hampered by the complexities of their dual nature.
According to the British Council, the estimate for the number of jobs directly created by social enterprises in Sub-Saharan Africa (SSA) ranges from 28 million to 41 million. Join us on Monday, December 18th, at Ventures Africa's LinkedIn Audio Event to discuss “The importance of social enterprise to Africa's growth”.
BizHive Entertainment
The New Wave of Nigeria’s Soft Power
Soft power - To attract, persuade, influence, and shape preferences through culture. Nigeria has effectively done this through entertainment. Our music, films, and content transcend borders, commanding global attention. As master storytellers, we are leveraging new technologies to amplify our cultural influence. Read our latest magazine issue to learn more.