Telecom
Broadband Expansion Driver of N150Bn e-Commerce Industry-Iroegbu
Nigeria’s N150 billion electronic commerce (e-commerce) industry is set for significant growth in the next few years, riding on the back of sustained efforts by the Federal Government and the private sector to enhance broadband availability, analysts have said.
Affordable data cost offered by mobile operators as well as consistent acquisition of smartphones have also been identified as major factors that would drive e-commerce adoption.
25 percent of Nigeria’s over 116 million mobile subscribers use smartphones, according to global market research company, TNS.
Industry analysts expect online sales to reach N1.25 trillion by the end of 2013. Besides, online sales grew 25 percent in 2011 to N62.4 billion, up an additional N12.5 billion from N49.9 billion in 2010.
Kanu Iroegbu, certified digital marketing consultant, is optimistic that this upward growth trajectory in online sales will not recede, because electronic commerce companies are increasingly channelling their energies and resources towards providing locally-relevant solutions to Nigerian customers.
The preceding year has seen e-commerce companies’ move away from merely cloning international brands. In view of this, investor confidence in the e-commerce landscape, according to industry analysts, is growing tremendously.
e-Commerce is growing very rapidly, an estimated volume of about N75 billion was done by e-commerce in Nigeria as at 2012 and if that is correct, in another four or five years we will be looking at N150 billion.
A report has it that with a population of over 160 million and an already thriving e-commerce market, Nigeria is becoming a game-changer in African e-commerce and that Nigeria’s Information and Communication Technology (ICT) sector has grown exponentially over the past five years, with the recent implementation of its five-year National Broadband Plan, which will see Nigeria’s broadband internet penetration increasing by 80 percent by the end of 2018, the country is likely to surpass South Africa’s e-commerce market.
Iroegbu while assessing the security aspect of the development said that “Ecommerce security is a vital part of online trading. It is essential for customers to be relaxed for protection of their account or credit card information while billing takes place.
If this will not be the case, the customer won’t take the risk of trading online then, thereby affecting the online trading in a big way.
“With new technology, businesses and companies are modifying their Ecommerce website for more functionality that increases the security and convenience of the user. The four phase of an E-commerce website can be mentioned as given: Brochure ware; Web storefront; One-to-One Customer Relationship and Communities that are of Interest”.
He defined Brochure ware as a kind of an E-commerce tool for the companies.
“A site would definitely be more good and effective if it picks up the advantage of the interactive ability of the Internet like that of navigated links to go ahead and back over the website. One more method of promoting the business online is encouraging the customers for sending questions, providing feedbacks, and inquiring about the products. These contacts can then be further transformed to valuable leads that complement the sales channel of the company, or online services.
“Web storefront – It expands the functionality of the site and includes buying and selling online that allows the customer the chance to visit a site and then purchase services or goods. Web storefront creates demand, acquires information of customer, fulfill the orders and process the payment also.
“One-to-One Customer Relationship – Here the information of the customer that is acquired from the past interaction for personalizing the content of the site, or its services and products according to the needs of the customer and his/her preferences is brought into use. The marketing campaigns on Internet also provide better addressing to the needs of the customer, which can thereby increase the satisfaction of the customer and retain him/her which will thus result in higher amount of sales and more profits.
“Communities that are of Interest – Here the information of the customer is brought into use for identifying and engaging the online community with the personalized services and products that is tailored specifically for the community that is created.
Ecommerce has certainly changed the face of business and made shopping a relaxed and fun-filled experience”.
The Certified Digital Marketing Consultant added that performing trade over the internet is not an easy business therefore designing of E-commerce websites requires good amount of research.
In a recent revelation from the Nigerian Communications Commission (NCC), Airtel Nigeria has emerged as a standout performer in the country’s telecommunications sector, marking significant gains in market share over the past year.
According to the NCC data, by the end of March 2024, Airtel Nigeria has grown its market share over the last year into a remarkable 29%, solidifying its position as a leading telecom provider in the region.
In stark contrast, other mobile network operators such as MTN and 9mobile have faced considerable setbacks, with MTN witnessing a notable 3.19% decline in market share and 9mobile experiencing a 0.5% decrease.
Even Glo, a prominent player in the market, saw a decline, albeit less pronounced, with a 0.58% drop in its share of internet subscribers.
Airtel Nigeria’s success story goes beyond market share gains. The company has also witnessed a substantial surge in its share of internet subscribers, boasting an impressive 165% basis points increase.
This surge correlates with the launch of Airtel 5G, which the company began rolling out in June 2023 and underscores the telco’s continued push to grow its customer base nationwide.
Airtel Nigeria’s ascendancy in the telecom market comes at a pivotal moment when mobile network operators face challenges of rising operations cost and exchange rates volatility. The company’s recent results solidify its position as a frontrunner in Nigeria’s telecom landscape.
Google Developer Groups Lagos (GDGLagos) has announced a regional edition of the global #BuildWithAI hackathon, in partnership with SeerBit, Africa’s most trusted payment solutions provider and GOMYCODE.
This hackathon, taking place on Saturday, April 27th and Wednesday, May 1st, 2024, will empower participants to explore Google’s AI tools, Gemini and Vertex AI and develop innovative solutions for real-world challenges.
“We are excited to partner with Seerbit and GoMyCode to bring the #BuildWithAI hackathon to Lagos,” says Co-Organizer, GDGLagos, Femi Taiwo. “This event fosters innovation and empowers individuals to use AI to solve real-world problems. We encourage everyone interested in AI to join us for this inspiring event.”
Founder & CEO of SeerBit, Omoniyi Kolade articulated the profound impact of this collaboration, stating, “At SeerBit, we are committed to pioneering innovative solutions that enhance financial security and foster trust in digital transactions. Collaborating with GDG Lagos amplifies our quest to combat fraud effectively. Together, we aim to empower developers to harness the power of technology for the greater good, ultimately benefiting society as a whole.”
“At GOMYCODE, we are committed to unlocking the potential of innovators across Nigeria and beyond through accessible technology education. The ‘Build With AI’ hackathon with Google Developer Groups Lagos offers a hands-on chance for innovators to use AI for real-world solutions. We’re excited to create a space where technology meets creativity, empowering participants to actively shape the future,” Country Head, GOMYCODE Nigeria, Babatunde Olaifa said.
The #BuildWithAI hackathon aligns with Google’s global initiative to democratize access to AI technology. This regional event in Lagos offers a unique opportunity for developers, data scientists, designers, students, and anyone curious about AI to:
- Gain hands-on experience with Google’s cutting-edge AI tools, Gemini and Vertex AI.
- Tackle real-world challenges across various sectors like sustainability, finance, education, healthcare, and social good.
- Leverage SeerBit’s expertise in digital payments to create solutions with tangible applications.
- Develop in-demand skills with the support of GoMyCode’s training resources.
- Collaborate in teams and network with fellow AI enthusiasts.
- Compete for a chance to win a cash prize of NGN 1,000,000, office space to further develop their winning solution, and the opportunity to partner with SeerBit, with NGN 500,000 and NGN 250,000 for second and third place respectively.
The GDGLagos #BuildWithAI hackathon serves as a springboard for the global Google AI Hackathon, taking place online. This international event focuses on pushing the boundaries of what Generative AI apps can do with Gemini. Participants in the Lagos event are highly encouraged to consider entering the global competition as well.
GDGLagos will provide ongoing support and guidance to the regional winner as they prepare to compete on the global stage. This includes access to mentorship, resources and technical expertise to help them refine their solution and showcase their talent to a worldwide audience.
Startup founders, experienced developers, data scientists and expert resources and designated mentors will be available during the hackathon to provide guidance, refine ideas, answer questions and offer technical support to participants. This ensures they receive the necessary guidance to tackle the challenges and bring their innovative ideas to life.
Telecommunications service provider, Airtel Nigeria has collaborated with the Nigeria Institute of Public Relations (NIPR) to provide with unlimited internet access at the institute’s inaugural edition of the Nigeria Public Relations Week.
The trailblazing event themed ‘Leveraging Public Relations as a Critical Asset for Nigeria’s Economic and Reputation Renaissance’ is set to run from Monday, April 22nd to Friday, April 26th, 2024, and will welcome thousands of delegates across Nigeria to the prestigious June 12 Cultural Centre, nestled in the heart of Abeokuta, the Ogun State capital.
Speaking on the strategic collaboration, Femi Adeniran, Director, Corporate Communications and CSR, Airtel Nigeria, expressed enthusiasm about the partnership, stating, “Airtel is proud to support the Nigeria Institute of Public Relations in its endeavor to advance the field of public relations.
“The relevance of public relations practice in Nigeria cannot be overstated, as it plays a vital role in shaping perceptions, managing reputations, and influencing public opinion. Hence, our support is a demonstration of our commitment to empowering individuals and organizations with innovative solutions that drive progress and create an enabling society.”
According to NIPR, through the PRWeek Organizing \Committee Chairman, Mr Yomi Badejo Okusanya, the NPRW will gather over 2,000 experts in the fields of economics, PR, and nation-building to discuss strategies for effectively communicating government policies and initiatives to the public.
Other activities at the NPRW will include conferences, the annual general meeting, workshops, induction of new members, breakout sessions with students as well as traditional rulers and a tour of some legacy projects in Ogun state.
With Airtel’s provision of onsite unlimited data connection, attendees and participants can enjoy unparalleled access to online resources, real-time updates, and interactive engagements throughout the duration of the event. This will significantly support the exchange of ideas, foster networking opportunities, and elevate the overall experience for all stakeholders involved.
Airtel Nigeria remains committed to offering unwavering support for initiatives aimed at driving innovation, collaboration, and nation-building.
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