Connect with us

General News

OLX Believes Classified Ads Space in Nigeria is Booming – Masha

Published

on

Lola Masha is the country manager, OLX Nigeria
Kindly share this post

Lola Masha is the country manager, OLX Nigeria, the leading online classifieds player in the country. Lola Masha joined OLX Nigeria in February 2014 with the goal of building a world-class online classifieds business that stands out from its competition.
Lola, holds a PhD in Engineering from the University of California, Berkeley. She is an outstanding individual with expertise in business development, entrepreneurship, operational transformation, strategy and product development, across numerous industries including technology and consulting. 
She has significant international experience and has worked with brands like Google and McKinsey Consulting. In this interview with Peter Ugwu, she shares her passion about the e-commerce space in Nigeria, discussing OLX’s ambition for growth in the market.

The Concept: OLX
OLX is the number one online classifieds site in Nigeria and in some markets globally. It is a vibrant platform for buyers to meet sellers to trade. We are an online marketplace operating in 40 countries in the world. We have about 200 Million monthly active users globally.

The Place of OLX in Nigeria’s e-Commerce Market
We are replicating our global achievements in Nigeria. Today, OLX is the leading online classifieds site in Nigeria by a significant margin. We have over 120,000 ads currently live on our platform across different categories such as vehicles, mobile phones, electronics, real estate that users have posted to sell to other potential buyers.

The Motivation behind Users’ Adoption of the OLX Platform
Trade is a universal need and it has happened for generations. What we do differently to facilitate trade is to provide a rich platform and excellent customer support to guide our users through the process.
At the end of the day, success is defined on the platform as being able to sell or buy a particular product. We continuously optimize our platform to ensure that our users are successful.

Challenges of Grooming/Expanding E-Commerce Platforms in Nigeria
The most important priority for us here in Nigeria is trust and safety. We need to ensure that our users feel safe and secure when they use the OLX platform.
When they feel secure, they are likely to return for more transactions. We are also doing several things to achieve trust through customer support; we review all ads posted on OLX to ensure they meet our safety criteria and requirements.
We are constantly ensuring that the ads that go live on the site are high quality ones round the clock.
Secondly, we educate our users on how to trade safely by providing safety tips on all our social media platforms. We also communicate safety tips through marketing campaigns; TV and radio commercials, radio shows and partnerships with media influencers to help educate the public.
As long as users follow our safety tips, we can assure them that they will have a safe and wonderful experience on our platform.
Some of the key safety tips are: never pay in advance; inspect the item carefully before making a purchase, meet in a public place to make the exchange and partner with us by reporting fraudulent users using the report button on the site, call or email. Simply, OLX is an online representative of what happens offline.
The same way when you go to buy a used car you first test-drive it, you get a mechanic to inspect its engine and other sensitive parts or when you buy a TV from a friend you test it to make sure it works. Users who currently follow all the necessary precautions offline, should replicate them when they use OLX.

The Alleged Nanny Employed Through OLX
What the nanny incident indicates and what became very clear to us is that Nigerians do not yet understand the difference between the online classifieds model and the e-tail model.
It also implies that we need to intensify efforts on user education, particularly on the online classifieds model, our business approach and the value the platform offers.
If this were to have happened in the United States or the United Kingdom, it would not be news, because people understand the classifieds model or if a driver was recruited via a traditional newspaper classified section and he steals, it wouldn’t make the news either.

The Foreign Investors’ Domination of Nigeria e-Commerce Space
It is never easy to build a flourishing e-commerce platform, but there are successful stories of Nigerian entrepreneurs building businesses from the ground up to enviable heights. I do not see foreign investments as a negative trend rather it is money coming into the country.
What is important is that Nigerians are able to leverage it to improve the economy that includes, creating jobs, building a stronger logistics sector, e-payment and other services required in the ecommerce eco system.
E-commerce is here to stay and any economy that values it does everything possible to protect the sector.
I think users see value in the convenience, the variety of products and access it has provided. It is a positive platform for the country and important that it continues to contribute to the economic growth of the country.

Regulations
We are fully open and in support of working with the regulators to ensure the ecommerce industry grows. It is in our interest to partner with the relevant stakeholders; the regulators, government agencies, competitors and other service providers. We must work together to make e-commerce a viable and sustainable industry in Nigeria.

Differentiating Electronic and Traditional Commerce Models
For online classifieds, one of the advantages is the access to a wide variety of goods and services conveniently.
The information you get using online classifieds compared to print classifieds is a richer set of features. If you are going to sell your car via the newspaper classifieds section, of course it wouldn’t be on the front-page but online, you can add richer content like colored pictures, detailed descriptions and so on.

OLX Acquisitions in Nigeria     
Yes, the acquisition of our competition shows that Nigeria is a priority market for us. OLX is committed to the market; we are here to stay and thrive.
If that means acquiring our competition, we are fully on ground to do so. It also speaks about the culture at OLX, we move very fast in getting things done to be successful.

Broadband and e-Commerce Growth in Nigeria
There has been a lot of progress in the last five years, which includes scaling up internet penetration in the country. I think at the moment the penetration rate stands at 38%, whereas it was less than 10% a few years ago.
However, we still have a lot of work to do in this sector. We recently partnered with MTN on the MTN APPtitude campaign to provide users the opportunity to download the OLX app free of data charges. This is an added advantage to our users, because we know data is still expensive in the market.

OLX’s Market Share Target
Our immediate target is to enhance consumer trade. Although we are leading the classifieds site in Nigeria, the market is still quite immature.  Our ambitions are to work with other stakeholders and lead the way to successfully grow the e-commerce space in Nigeria. With continued focus on delighting the Nigerian users, it is clear that OLX will continue to dominate the online classifieds space in Nigeria and across Sub-Saharan Africa.


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

General News

NITDA DG Calls for Innovation-Led Economic Rebirth @ Kano Startup Weekend

Published

on

Kindly share this post

Kashifu Inuwa, the Director General of the National Information Technology Development Agency (NITDA), has called for a fundamental shift in Kano State’s economic strategy, urging stakeholders to embrace innovation, technology and collaboration as the drivers of growth in the 21st century.

Speaking at the Kano Startup Weekend, Inuwa acknowledge Kano’s long-standing reputation as the commercial nerve centre of Northern Nigeria and the wider Sahelian region, noting that its history of trade, enterprise and human capital provides a solid foundation for future growth.

He emphasised that while these strengths powered Kano’s success for centuries, the modern economy now offers even greater opportunities through innovation and technology.

He described innovation as the process of transforming ideas into impactful solutions through commercialization, stressing that when ideas are effectively deployed, they create value, solve societal challenges and generate sustainable economic growth. He noted that Kano’s large market, strategic location and vibrant entrepreneurial culture place it in a strong position to take advantage of innovation-driven opportunities.

According to him, “Innovation is the process of taking an idea from inception to impact. Invention on its own is a cost centre, but when you commercialise an idea, when you turn it into a product or service that solves a real problem and creates value, that is when you begin to drive economic growth and inclusion.”

He noted that the state hosts numerous degree-awarding institutions across federal, state and private ownership, providing a strong base for human capital development. However, he expressed concern that these institutions often operate in isolation from industry, with research outputs rarely translating into commercial or industrial applications.

He explained that innovation does not happen in silos and stressed the need for a strong, interconnected ecosystem that brings together academia, industry, startups, entrepreneurs and government.

According to him, universities should conduct research informed by industry needs, industries should leverage research to improve productivity and competitiveness, and startups should serve as the bridge that converts ideas into market-ready solutions.

He further encouraged entrepreneurs to leverage technology to build businesses that can grow beyond local markets, explaining that innovation-driven enterprises have the power to scale rapidly, create jobs and position Kano competitively at both national and global levels. According to him, digital platforms and emerging technologies now make it easier for startups to reach wider markets and develop solutions that were previously unimaginable.

“You can start your business here in Kano, but your thinking must be global from day one. Technology has removed barriers. With the right skills and platforms, a startup in Kano can build solutions that serve not just Nigeria, but the world,” he noted.

Highlighting NITDA’s ongoing interventions, the Director General outlined the Agency’s commitment to building national innovation capacity through targeted human capital development programmes. He cited the Digital Literacy for All (DL4ALL) initiative, which aims to equip Nigerians across all segments of society with essential digital skills, and the 3 Million Technical Talents (3MTT) programme, designed to produce a pipeline of globally competitive technical professionals in areas such as software development, data analysis and emerging technologies.

He said, “Through DL4ALL, we are ensuring that Nigerians at all levels have the basic digital skills needed to participate in the digital economy, while 3MTT is deliberately building a pipeline of globally competitive technical talents who can drive innovation, create jobs and attract investment.”

He explained that these programmes are key pillars of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises skills development, innovation, job creation and inclusive economic growth as pathways to national prosperity. According to him, empowering Nigerians with digital and technical skills is essential for building a resilient economy capable of competing in the global digital landscape.

“President Tinubu’s Renewed Hope Agenda is about investing in people, empowering them with relevant skills and creating opportunities for inclusive growth. At NITDA, we are using digital skills and innovation as tools to translate that vision into real economic impact for Nigerians,” he said.

Inuwa urged all stakeholders in Kano to work together to build a functional innovation ecosystem that can unlock the state’s vast potential. He expressed confidence that with the right mindset, strong collaboration and sustained investment in digital skills and innovation, Kano can reclaim its historic leadership role and emerge as a major innovation and entrepreneurship hub in Nigeria and beyond.


Kindly share this post
Continue Reading

General News

Sterling Bank Renewable Energy Colloquium Urges Stakeholders to Unlock Nigeria’s Clean Energy Potential

Published

on

Kindly share this post

Sterling Bank Limited on Monday convened stakeholders in the renewable energy industry to explore strategies for accelerating Nigeria’s transition to clean energy and boosting economic growth.

Sterling Bank Renewable Energy Colloquium Urges Stakeholders to Unlock Nigeria’s Clean Energy Potential

L-R: Mr. Ayo Ademilua, President, Renewable Energy Association of Nigeria; Dr. Jekwu Ozoemene, Group Executive, The Alternative Bank; Mr. Biodun Ogunleye, The Honourable Commissioner, Lagos State Ministry of Energy and Mineral Resources; Mr. Dele Faseemo, Group Executive, Coprporate and Investment Banking, Sterling Bank; Engr. Bem Samuel Anyangeuor, Representative, Honorable Minister of Power and Mr. Oluwaseyi Okunnuga, Group Head, Renewable Energy & Sustainability Finance, Sterling Bank at the just concluded Renewable Energy Colloquium held in Lagos recently.

The colloquium, themed “Beyond the Grid: Unlocking New Frontiers in Renewable Energy”, was held in Lagos and brought together policymakers, financiers, and industry leaders to deliberate on priority areas for action.

In his opening address, Managing Director and Chief Executive Officer of Sterling Bank, Mr. Abubakar Suleiman, represented by Mr. Dele Faseemo, Group Executive, Corporate and Investment Banking, said the bank would focus on regulation and financing to expand access to energy.

He noted that energy access remained critical to supporting economic growth and achieving Nigeria’s ambition of building a one trillion-dollar economy.

Delivering a keynote address titled “Scaling Electrification in Nigeria: The REA Impact”, Managing Director of the Rural Electrification Agency (REA), Dr. Abba Aliyu, represented by Mr. Abba Hayatudden, said Nigeria required about 26 billion dollars to bridge its energy deficit.

Aliyu explained that the energy transition strategy integrates grid, mini-grid and off-grid technologies to achieve universal, reliable and sustainable energy access while aligning with national development and climate goals.

Minister of Power, Mr. Adebayo Adelabu, represented by Engineer Samuel Ayangeaor, commended Sterling Bank for convening the dialogue.

He said renewable energy and rural electrification were central to the Federal Government’s Renewed Hope Agenda.

“The Ministry of Power has continued to expand electricity access to underserved communities to drive economic growth, foster industrial activity and create jobs across the nation,” Adelabu said.

Lagos State Commissioner for Energy and Mineral Resources, Mr. Biodun Ogunleye, highlighted the state’s efforts in renewable energy, including the ongoing two-gigawatt grid-scale solar project.

He described it as the most ambitious energy transformation ever undertaken by the state.

Chief Executive Officer of Sterling One Foundation, Mrs. Olapeju Ibekwe, urged participants to move beyond communiqués and act with intention to deliver meaningful impact.

The colloquium featured panel sessions on financing and scaling green energy solutions in Africa, among other discussions.


Kindly share this post
Continue Reading

General News

Cellulant Taps Freddie Oduro to Lead Enterprise Payments Expansion in Ghana

Published

on

Mr. Freddie Oduro, New Country Manager for Ghana.
Kindly share this post

Cellulant, a leading Pan-African payments company enabling seamless digital transactions across Africa, has appointed Mr. Freddie Oduro as its new Country Manager for Ghana.

Cellulant Taps Freddie Oduro to Lead Enterprise Payments Expansion in Ghana

Mr. Freddie Oduro, New Country Manager for Ghana.

Freddie’s appointment is a key step in Cellulant’s broader strategy to deepen its presence in priority markets by accelerating the acquisition of in-country enterprise businesses and strengthening its position as the payments partner of choice in Africa.

Freddie brings over a decade of commercial and strategic leadership experience in the telecommunications and financial services sectors, with expertise in  sales, business operations, and market expansion.

In his new role, he will drive merchant acquisition, strengthening partnerships, oversee collections and payout operations, while ensuring strong internal controls and regulatory compliance.

He joins Cellulant from Payaza and previously served as Sales Director at Cellulant, where he helped significantly expand the company’s footprint in Ghana.

Cellulant has been powering payments in Ghana for leading brands in sectors like e-commerce, utilities, oil and gas and retail, helping them offer their customers a wide range of secure digital payment options.

“We are happy to welcome Freddie back to the Cellulant family,” says Richard Gesimba, Chief Revenue Officer at Cellulant. “Ghana remains a critical market for us, with immense potential driven by rising digital payments adoption.

“As we sharpen our focus on in-country enterprise customers, Freddie’s leadership and industry insight make him the ideal person to steer our Ghana operations.”

The appointment comes at a transformative time for the company. Following a strategic shift between late 2023 and early 2024, focused on streamlining operations, doubling down on enterprise payments, and strengthening customer intimacy, Cellulant achieved profitability in 2024 and continues to build on this momentum.

The company now processes close to 4.5 million transactions daily for businesses across Africa, reinforcing its position as a fintech leader.

“I am honoured to return to Cellulant and lead the Ghana team at such a defining moment,” says Freddie, Country Manager for Cellulant Ghana. “Ghana presents a tremendous opportunity.

“We will ramp up our efforts to sign on more local merchants, strengthen our compliance and control frameworks, and introduce innovative solutions like Tingg Edupay, our automated school fee management solution that eliminates reconciliation delays by validating payments in real time and instantly updating student accounts.

“We will build on Cellulant’s strong foundation to deliver real value, reliability, and economic impact.”

Ghana’s digital payments sector continues to grow steadily, supported by increased mobile money usage and a progressive regulatory environment. Between January and October 2025, the value of mobile money transactions hit about GH¢ 3.6 trillion, up sharply from GH¢ 2.37 trillion in the same period of 2024.

Registered mobile money accounts now exceed 79 million, demonstrating strong consumer and business confidence in digital financial services and in turn creating many opportunities for payment innovation.

This leadership appointment underscores Cellulant’s commitment to building a resilient, high-performance organisation geared towards playing a pivotal role in the next era of Africa’s digital economy.

Looking ahead to 2026, Cellulant plans to further enhance the user experience on its payment platform, Tingg, and expand its  footprint across Ghana.


Kindly share this post
Continue Reading

Trending