E-Business
Five Reasons why E-commerce is a Boost to Informal Retail
Having existed in the background for centuries, Nigeria’s informal retail market is witnessing massive rejuvenation, thanks to B2B e-commerce brands applying technology to resolve the chronic market problems.
In the last three years, new market routes have emerged for retailers, as the industry gradually embraces the digital revolution. Discussed in this article are five ways e-commerce will further boost the informal retail market.
Price stability: Fast moving consumer goods are the everyday necessities that make informal retail thick, but those familiar with the market would know that prices of these goods are constantly unstable. One major improvement e-commerce brands bring to this market is to help regulate price of products.
“With our services, we have not only eliminated the need to allocate revenue to transport fares and market fees, we have also regulated the prices of products. Thereby, we ensure that our informal retailers are not affected by unreasonable price-hikes.
As evidence of this, 96% of our retailers say that our prices are fair and competitive compared to other suppliers,” said market expert and CEO of Alerzo Limited, Adewale Opaleye.
Open market options: The current market structure has lasted for ages, but retailers who are the major link to consumers still mostly end up with the short end of the stick.
A chat with these retailers will show that current market arrangement leaves them at the mercy of distributors: unpredictable prices and scarcity of products, especially during peak demand periods, are few of the many prevalent issues.
Majority of them would gladly embrace another market route to rival the current distributor/marketer chain. Interestingly for retailers, e-commerce brands not only offering cheaper restocking routes, but also an efficient option which will lead to a competitive and ultimately a more vibrant market.
Improved distribution chain: The activities of e-commerce players in the industry will not only benefit the retailers, but the whole distribution value chain. Since their entry into the market, the B2Bs have reiterated that they are here as market aggregators, who see the current league of wholesalers/distributors as partners, and have no aim of displacing them.
Also, facilities of these B2B e-commerce platforms can be of benefit to distributors. A platform like Alerzo said it provides warehousing and fulfilment solutions to suppliers.
The company said it currently owns over 200 vehicles and 20 warehouses to serve thousands of retailers on its platform. Some B2B players have also said current suppliers and distributors serve as a source of product supply for them in certain regions of the country.
Market insight for manufacturers: By their business model, B2B e-commerce brands penetrare hitherto marginalised and underserved retailers mostly in rural settlements. This ability to penetrate rural communities make them good data banks, as they are able to gather information from their first hand interaction with retailers.
Such data will come in handy for manufacturers, by providing them insights into present customer behaviour and ultimately help proper planning and development of suitable products.
Better business experience for retailers: Customer relationships and retention for informal retailers are major metrics of success while running their stores.
By offering an easy and convenient inventory channel, e-commerce will help retailers deliver better customer services. By ordering inventory online, a retailer saves time and energy, thus having more time for customer interaction.
Added to this is improved access to funds for business growth. About 85% of informal retailers settle transactions in cash, not out of choice but because the credit system financially marginalises them.
Informal retailers who embrace these digital platforms also have the opportunity of building transaction records on e-payment apps that will facilitate access to loans. Some e-commerce platforms like Alerzo also provide sellers with training and advisory that helps improve their digital skills and open them to more opportunities to grow their businesses.
It is holiday season in many parts of the world. These days though, going on holiday does not always mean turning your back on office life – hybrid work cuts both ways.
Today’s widespread connectivity—available at airports, train stations, restaurants, hotels, and most indoor public spaces—makes staying connected easier than ever, with free Wi-Fi in many locations and reliable 4G or 5G coverage elsewhere, helping to facilitate a seamless blend of work and leisure even while on holiday.
This increase in connectivity among travellers has not gone unnoticed by cyber criminals. Kaspersky experts analysed nearly 25,000 free Wi-Fi spots in Paris ahead of the Summer Olympic Games and Paralympic Games. The analysis revealed that almost 25% of these networks had weak or no encryption, making users vulnerable to personal and banking data theft.
Travellers often have their guard down. The unfamiliar surroundings of a new location or a different language can throw up a useful smokescreen for a cyberattack, meaning additional care needs to be taken when logging on. Fortunately, a few smart tools and habits can help you stay protected while enjoying the flexibility of remote work.
Use a VPN for secure connections
A VPN is one of the most effective ways to safeguard users’ online activity, especially when working from unfamiliar locations. By encrypting Internet traffic, a VPN ensures that hackers can’t intercept sensitive data like login credentials or financial details. This is particularly important when accessing work emails or company files on public Wi-Fi, where cybercriminals often lurk.
Switch to an eSIM for reliable, secure mobile data
Another useful digital tool that provides a seamless way to stay connected using local mobile networks with no physical SIM card required is the eSIM. This is a game-changer for international travellers who want to avoid sky-high roaming charges or the hassle of hunting down temporary SIM cards in foreign countries.
With an eSIM, a user can download a local data plan before you even arrive at your destination, ensuring instant connectivity the moment you land. This eliminates the need to rely on unsecured Wi-Fi hotspots, significantly reducing your exposure to cyber threats.
Plus, many eSIM providers allow you to manage multiple profiles on a single device, making it easy to switch between work and personal data plans without juggling multiple phones.
Services like Kaspersky eSIM Store enables users to purchase and activate data plans in advance, track usage and top up as needed, all from a single app.
Enable two-factor authentication (2FA)
When travelling, people often leave devices unattended. To protect against unwanted people logging in, travellers should ensure two-factor authentication (2FA) is enabled on all critical accounts and that passwords are used on all devices.
Final tips for a secure workation
Even with a VPN, eSIM and 2FA in place, your devices still need strong defenses against malware, phishing scams and ransomware. Cybercriminals often target remote workers who may let their guard down while travelling, making real-time protection essential.
Modern antivirus software does more than just scan for viruses, it actively blocks malicious downloads, warns you about phishing attempts and even secures your passwords and financial data.
For the most robust security, consider a solution like Kaspersky Premium, which combines antivirus protection, a VPN and password management into a single, easy-to-use package.
By combining a VPN, eSIM and strong antivirus, you can work from anywhere with confidence, whether you’re sending emails from a poolside or joining a video call from a festival tent.
E-Business
Zequence Digital Boss Calls for Strong IP Laws Enforcement, to Protect Nigeria’s Software Sector
Mr Adeoye Oludamilola, managing director, Zequence Digital, a digital agency, has said strong enforcement of Intellectual Property (IP) laws , protection of Nigeria’s software industry against piracy will encourage innovation and investment.
Adeoye told reporters lately in Lagos that software piracy and the unauthorised use of proprietary technology are widespread in the country.
According to report Intellectual Property (IP) laws in software refers to the legal rights that protect the creations of the mind used in software development.
These rights, which include copyrights, patents, trade secrets, and trademarks, grant developers exclusive control over their software and related assets, preventing unauthorised use or reproduction.
Adeoye said that many startups do not protect their innovations, due to a lack of knowledge and the cumbersome legal processes involved.
“IP registration and litigation are expensive and time-consuming, which further discourages developers from protecting their work,” Adeoye said.
He added that the lack of awareness among developers about their IP rights contributed to the problem.
To address these challenges, Adeoye stressed the need for the formation of an IP Protection Consortium, comprising tech firms, legal experts, and regulators, to advocate for stronger IP enforcement.
He also suggested collaborating with legal tech startups to create simplified platforms for fast-tracked IP registration.
The managing director further called for joint initiatives between legal bodies and tech communities to launch IP rights education campaigns.
This, he said, would equip developers with the knowledge they needed to protect their innovations and grow their businesses.
Adeoye emphasised the need for the government and stakeholders to create an ecosystem for development and inclusivity by proactively engaging with regulators.
According to him, this will help ensure that policies are created with the input of concerned agencies and industry experts.
PalmPay, a leading fintech platform and full-stack digital neobank for emerging markets, has partnered with Nigeria’s biggest Health Insurance Company, AXA Mansard Health a member of the globally trusted AXA Group, to provide millions of Nigerians with affordable, accessible digital health insurance.
This strategic partnership enables PalmPay users to seamlessly access a range of health insurance packages from AXA Mansard directly within the PalmPay app. With plans starting as low as N500 per month, users can now choose from flexible insurance options tailored to fit their everyday needs.
The plans are designed to meet a wide range of needs; for example, the AXA Digital Health plan offers access to telemedicine consultations with doctors, N5,000 worth of medications, and up to N40,000 in surgical coverage. Users can also opt for the AXA Mansard MicroHealth plan at N1,000 per month, which provides unlimited diagnostic tests and funeral benefits. Additionally, the AXA Mansard Accident plan, available for N500 monthly, offers comprehensive death cover for both accidental and non-accidental cases.
Speaking on the partnership, Habib Kowontan, Head of Wealth Product at PalmPay, said: “Insurance is a key pillar of financial security, yet millions of Nigerians remain underserved. Our partnership with AXA Mansard Health breaks down long-standing barriers by placing reliable and affordable insurance solutions right at our users’ fingertips.”
In her remarks, Jumoke Odunlami, Chief Distribution Officer, AXA Mansard Insurance said that the partnership with Palmpay presents the AXA with another opportunity to improve health and productivity of Nigerians. “Through partnerships like this, we are covering over 1.8 million Nigerians and ensuring that healthcare is accessible, available and affordable.
“So we are excited about joining forces with a brand like Palmpay to compliment the range of financial possibilities they offer their customers with health plans. It fits well with our mission and our purpose of acting for human progress by protecting what matters, and we are looking forward to doing even more with Palmpay”, she explained.
This partnership reflects PalmPay’s broader mission to create a more inclusive digital financial ecosystem, one that empowers users to not only manage their money efficiently, but also secure their future.
This partnership reflects PalmPay’s broader mission to create a more inclusive digital financial ecosystem, one that empowers users to not only manage their money efficiently, but also secure their future.
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