General News
Carmudi to Dominate Nigeria’s Online Auto Market-Keller
Christian Keller, managing director, Carmudi Nigeria & Ghana, graduated from University of Mannheim, Germany, and holds an MBA from Portland State University, USA.
Prior to joining Carmudi, he worked in corporate strategy at Swisscom and in management consulting at Arthur D. Little and IBM in Europe with a focus on ICT and automotive industries.
He shared Carmudi’s vision for the Nigeria’s automobile market with peter ugwu.
Carmudi.com
Carmudi is Nigeria’s leading online vehicle market place. It functions as a hub that connects buyers and sellers of cars, tricycles and other mobility in that category.
So, if you are looking for a car, you will find, at the moment, over 35,000 unique listed cars on the website. For instance, if you are searching for Toyota Camry of a particular price range, colour, you will find a vast amount of them on our site.
Based on our findings, for a long time, Nigerians have been made to drive around major cities all in search of the right car to suit their budget and taste, but since the emergence of Carmudi.com.ng they are able to sit in the convenience of their homes, offices or any other locations and search through thousands of new, used (Tokunbo) and Nigerian used vehicles to buy – all quality-approved.
Now, they have a choice and no longer restricted to car sales in their immediate environment and to the dealers they already know well, as we have taken time to attract a large population of independent car dealers and individual car sellers to our site and verify all these dealers and sellers in a bid to build a large car market network and strengthen trust which is commonly lacked amongst buyers and sellers. In the past, people had to reach out to friends and it takes some months to get them purchase a car.
Uniqueness Of Carmudi App
It is less than a year that we launched in Nigeria and we already have most of the cars that are for sale in Nigeria on carmudi.com.ng.
So, it has been a huge adoption in the market. In the beginning, it took some months to convince the professional car dealers to list on our site.
The challenge was how we could convince those that have not used the internet before to place their cars on our site.
So, we used a team of enthusiastic young car lovers to reach out to them; preaching the good news of the internet.
We made them to understand the importance of going online. It was a very big plus to us, because we have become internet evangelists, harping on the need to adopt the platform which has become home for all.
So, our team moved, had discussions with them and that helped us to get have enough interest to first of all visit our site and get firsthand knowledge on the message we brought to them.
Subsequently, we saw them coming to enlist; many did that from their sales outlets using their devices.
Connecting Buyers And Sellers
We simplified the process; making buying easier and better. Now, with car inventory of over 35,000 unique vehicles and an average constant new addition to inventory of cars, trucks and buses in a month, a potential buyer can buy a car that has been certified by auto experts and workshops.
As you continue with the transaction the assurance is that this is the first of its kind in Nigeria; full auto expert reports and history of your Nigerian used car.
The buyer will just browse through our list of dealers and sellers who offer purchase support and incentives such as: warranty, price negotiation and installment payment. One thing is clear; we do not charge you to access dealer or seller information.
Importance of Carmudi to Sellers
Of course, they are quite important, because they are the ones to make available list of cars for sell with the specs.
So, as a dealer you no longer need to park cars by the road side and put a plastic bottle on it. From the comfort of your home all you need to do now is to take three easy steps: Take a photo. Post it. Sell. It is simple.
Take very clean and nice photos of the vehicle; write up a nice advert of your car, with a good and clear description to give buyers a good idea of what they are getting into, and post it right away; then have buyers contact you and sell it. So, you can put the car on Carmudi and based on the potentials, you can sell as quickly as possible.
Mechanism for Verifications and Guard against Fraudsters
Apparently, one of the reason people were skeptical about embrace e-commerce was the issue of fraudsters; people masquerading as genuine to either tap others’ data or tap into their financial records, and this time, posing as real car dealers to defraud people.
One thing is that we do not compromise standards, because the integrity of our platform will be called to question should we compromise.
At Carmudi, we know that customers are concerned about that. I make bold to say that we do not accept scams on our website. Our team is on ground, moving round the streets to actually take photos of the cars that are uploaded.
The quality assurance team (QST) ensure nothing about the car is fraudulent or below standard. As people are uploading on their own, the quality assurance team also does background checks such as calling to confirm biography given by the person. This also guides in ensuring the car actually matches the price.
Connecting Non-Internet Compliant Car Dealers
The way we make money is that we charge small amount of fee from professional car dealers. But if we find out that in the beginning we need to give the space on free-trial to them, to have first-time experience, we do that.
Testing will always convince them; by doing that we have been able to bring most of them online. Most importantly, when they post or list their cars online and get patronized by potential customers, it is evidence to them that online marketing or transactions are real.
Some time, referrals help to market us. People who have gone through the seamless process go to town to inform others. That is the beauty of the internet.
When you are genuine there is nothing to fear about e-commerce. Likewise, the customers, they have nothing to fear. We usual advice them on the processes and things to look out for while buying certain categories of car through our carmudi online journal too.
We found that education is key in this aspect of business as well. At time, people buy out of persuasion from friends or relatives, but there are critical decisions one has to make before buying any brand of car.
The Tide of Competition
There is a vast of sites with some car listed on them, that is the basic truth, but that does not mean it is the business they are set out to do.
Carmudi is the premium cars website, dominating the space and become a house-hold name. To us, every listing is unique; there is no room for complicity.
Our quality assurance is there to ensure high level of compliance by both parties. We work hard every day that all vehicles listes are actually genuine and for sale. Our great customer care representatives will be happy to help you in case of questions.
Impact on Internet Penetration
Internet penetration is key in this kind of start-up (business). Although, it is still on the rise in Nigeria, however, we have seen a shift towards usage.
We just launched the Carmudi App, where you can have over 35,000 cars in your pocket. You can browse it from anywhere at your convenient anytime. So, we hope to leverage on the increasing internet penetration in the country.
Adoption Rate Outside Lagos
We have people all over Nigeria, including the major cities, Lagos, Abuja and Port Harcourt. However, Lagos remains the location in Nigeria where most cars are imported into and people come from far and near to buy cars.
IHS Nigeria, part of the IHS Holding Limited (NYSE: IHS) (“IHS Towers”) group, one of the largest independent owners, operators, and developers of shared communications infrastructure in the world by tower count, has partnered with the Ilorin Innovation Hub to host the maiden edition of its Demo Day at the state-of-the-art facility in Ilorin, Kwara State.
The event, themed “The Convergence,” is designed to spotlight 19 emerging startups that have participated in the Hub’s accelerator and incubation programs, and invite them to pitch their solutions to investors, venture capital funds, corporate partners, and the media.
The Ilorin Innovation Hub, a partnership between the Kwara State Government and IHS Nigeria, began operations in February 2025 with programs managed by Co-creation Hub and Future Africa.
The Demo Day presents an opportunity to take stock and assess how the Ilorin Innovation Hub is helping to nurture and bring to life groundbreaking ideas and solutions supporting economic resilience and addressing real-world societal challenges. The event is expected to help unlock funding opportunities, foster strategic collaborations, and amplify visibility for these startups that are developing solutions across critical sectors including agriculture, health-tech, green energy, lifestyle, and digital services.
Beyond the startup showcase, the Demo Day highlights Kwara State’s continued commitment to driving digital innovation and entrepreneurship, and IHS Nigeria’s commitment to bridging the digital divide and deepening the digital economy in Nigeria.
Mohamad Darwish, CEO, IHS Nigeria, commented, “We believe innovation and digital technology are powerful drivers of economic growth and sustainable development. This is why we partnered with the Kwara State Government on the Ilorin Innovation Hub. It is impressive and very fulfilling to see the diverse portfolio of ideas and solutions showcased today from the hub within a year of the commencement of operations.
This speaks to the depth of creativity among Nigerians and what is possible when they are equipped and supported. Today’s event makes me proud of our investment in the space and underscores IHS Nigeria’s continued commitment to supporting technology, entrepreneurship, and digital innovation in Nigeria.”
Temi Kolawole, Managing Director, Ilorin Innovation Hub, commented, “Today, we showcase 19 startups that have shown that when you combine talent with the right support, the results speak for themselves. The Ilorin Innovation Hub exists to ensure that geography is never a barrier to building something extraordinary, and this Demo Day is proof that we are on the right track.”
AfriStakes has launched a new capital platform in Nigeria aimed at linking African small- and medium-scale enterprises with a broad range of investors in a move to address persistent funding gaps across the continent.
In a statement, the firm said the platform would improve capital allocation by bridging the disconnect between available funds, investment-ready businesses, and viable opportunities.
The launch comes as many African businesses continue to face funding constraints despite the availability of capital within the financial system.
AfriStakes said structural barriers have limited access to funding, even as capital remains concentrated in traditional instruments such as fixed deposits, equities, and managed funds.
The platform enables businesses and investors to connect directly by creating profiles, listing funding needs, and identifying suitable investment partners.
According to the company, businesses can upload key documents and showcase their funding requirements, while investors can outline their interests and financial capacity.
Founder of AfriStakes, Henry Adebisi, said the initiative was designed to tackle inefficiencies on both sides of the investment market.
“In Africa, businesses suffer from low access to capital while investors suffer from low access to investable opportunities. With AfriStakes, we ensure businesses are properly prepared and positioned for investment, while investors gain the clarity and confidence needed to deploy capital effectively,” Adebisi said.
The company noted that a major challenge for many SMEs is not a lack of value but poor investment readiness, which affects their ability to attract funding.
AfriStakes said it addresses this gap by providing a structured framework that helps businesses present financial information, develop investment narratives, and prepare realistic projections.
The platform also offers support services such as due diligence, deal structuring, and preparation of investor-facing materials.
It added that the platform would facilitate capital inflow from local and international investors, including individuals, angel investors, diaspora investors, entrepreneurs, and institutional players.
Adebisi said the platform would promote efficient capital flow into businesses driving economic growth across Africa.
“Our vision is to build a system where capital flows more efficiently into real businesses that drive economic change. By positioning both businesses and investors for success, we enable stronger investment decisions and more impactful economic outcomes,” he said.
AfriStakes said it supports multiple funding pathways, including debt financing, equity investment, partnerships, and acquisitions.
The company added that the platform would promote transparency, inclusivity, and structured investment processes across the African business landscape, adding that the initiative positions AfriStakes as a key player in addressing the continent’s financing challenges by creating a bridge between capital and opportunity.
The modern kitchen is no longer just a place to cook, rather where families gather, conversations happen, and lifestyles are expressed. Today’s homeowners want appliances that don’t just work efficiently but also reflect their personality and enhance their living experience.
This is exactly where the LG MoodUP™ Refrigerator stands out. Designed to combine innovative technology, customizable design, and smart entertainment, the LG MoodUP Refrigerator transforms the kitchen into a vibrant, expressive, and connected space.
A Refrigerator That Matches Your Mood and Lifestyle
Traditional refrigerators focus solely on storage and cooling. The LG MoodUP Refrigerator takes a bold step further by redefining what a kitchen appliance can be.
At the heart of this innovation are colour‑changing LED door panels that allow users to personalise their refrigerator’s appearance. With just a few taps via a smartphone app, you can effortlessly change the colors of the refrigerator doors to match your mood, décor, or occasion.
Whether you prefer calm neutral tones, vibrant colours for entertaining guests, or subtle lighting for a relaxed evening at home, the LG MoodUP adapts seamlessly.
Customizable LED Panels: Design Meets Technology
One of the most striking features of the LG MoodUP Refrigerator is its customizable LED door panels. These panels offer multiple colour options and lighting combinations, helping you create a kitchen that truly reflects your personality.
Why This Matters for Modern Homes
- Enhance kitchen aesthetics without renovations
- Allows you to refresh your space instantly
- Creates a dynamic, stylish focal point in the kitchen
- Ideal for design‑conscious homeowners and young professionals
In Nigerian homes where kitchens are increasingly becoming open, social spaces, this feature adds a unique blend of style and innovation.
Built-In Bluetooth Speaker: Entertainment at the Heart of Your Home
The LG MoodUP Refrigerator goes beyond design by introducing entertainment into the kitchen. With a built‑in Bluetooth speaker, users can connect their smartphones directly to the refrigerator.
This allows you to:
- Play music while cooking
- Listen to podcasts or radio shows
- Enjoy audio while hosting family or friends
- Make daily kitchen routines more enjoyable
From meal prep to weekend gatherings, the kitchen becomes a more social and engaging environment.
Smart Technology for Smarter Living
LG is known globally for pioneering smart home solutions, and the MoodUP Refrigerator reflects this commitment. Using LG’s intuitive app interface – LG ThinQ, users can control lighting, sounds, and certain settings directly from their smartphones.
This smart connectivity ensures:
- Easy customization
- Seamless user control
- A modern, connected kitchen experience
For tech‑savvy Nigerian consumers looking to integrate smart appliances into their homes, the LG MoodUP Refrigerator fits perfectly into today’s digital lifestyle.
Designed for Style, Comfort and Everyday Use
Beyond its innovative features, the LG MoodUP Refrigerator remains a high‑performance refrigerator built for daily use. It delivers reliable cooling performance, efficient food preservation, and durable construction expected from LG appliances.
Key lifestyle benefits include:
- Elegant, premium design
- Reliable cooling efficiency
- Smart functionality without complexity
- A blend of practicality and visual appeal
This makes it ideal for homes that value both performance and style.
Why LG Continues to Lead in Home Innovation
LG’s approach to product development focuses on understanding how people live today and how technology can improve everyday moments. The MoodUP Refrigerator is a strong example of this philosophy, demonstrating that appliances can be both functional and expressive.
Rather than blending into the background, the LG MoodUP stands out as a lifestyle statement; one that reflects individuality, creativity, and modern living.
For anyone looking to upgrade their kitchen experience and embrace the future of smart living, the LG MoodUP Refrigerator delivers a bold and refreshing approach where your kitchen truly matches your mood.
For more information, kindly visit https://www.lg.com/africa/refrigerators/lg-gr-a24fdmmb
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