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Recession: Cheki Nigeria Sensitizes Car Dealers On ‘Leads to Sales’ Strategy

Cheki.com.ng, Nigeria’s leading cars website, at its dealer’s conference on Thursday, said, notwithstanding the present economic realities in the country, car dealers can stay afloat using the right strategy and technology adoption.
Mr. Gbenro Dara, chief executive officer of the Cheki Nigeria, notable for providing safe and conducive environment where buyers meet car sellers, said the conference (and awards) event was as a result of the need to sensitize the dealers, providing them with platform to network while learning from industry best practitioners.
“We also wanted to share with them our discoveries from the backend. It is generally meant to help them increase sales by not allowing leads generated get away without results”, Mr Dara told Nigeria CommunicationsWeek.
Speaking on the significance of the conference theme “Maximizing Sales Opportunities in a Recession”, he said that Cheki was even prepared to assist the dealers increase sales using available means to reach the buyers.
The Cheki’s CEO said, “The conference came as a result of feedbacks from dealers; we felt it was high time we brought them together to engage each other while learning from industry best practitioners. We also wanted to share with them our discoveries from the backend. It is generally meant to help them increase sales.
“We can’t wish away the fact there has been a downturn in the market, however, every seller or dealer must strategize on how to meet target. That is part of what we are offering our partners; helping them to see ideas of restructuring their internal processes that will make them overcome the recession. As I mentioned earlier, one of such strategies must ensure their leads conversion rate is higher; whereby the inquiries are turn to sales.
“We got a lot of feedbacks from buyers who complained of slow response to their inquires. So, part of the conversations with the dealers centered around sensitizing them on the need for quick responses and follow-ups; basically about relationship management.
“It is not enough for you to send an SMS or call, there should be a process to help give the buyer a good experience to be able to make a decision, choose to buy from you. They (the dealers) have to remember this is a big market where buyers are searching from multiple sources. So, you have to give every buyer a good reason or product at a right price and experience”.
Nodding in agreement, Engineer Kiran Sunil Parab, managing director of WOW Motors, said that transparency and right pricing are critical factors the players must consider, adding that quality and swift responses to leads are part of the determining factors in winning the potential buyer’s interest.
He said, “Irrespective of the economic recession, car dealers still have market. It is a choice we have to make in order to impact the economy positively too through different sales approach.
“Networking will help the dealers to meet buyer’s demands in some circumstances. But never forget to integrate the inquires, follow-up (meet and greets), demo sessions and impressive service are the bedrocks of sales processes.”
Participants at the conference were taken through in-depth analogues on improving sales with ‘after sales’ supports, while some were awarded for excellent performances in the past years.
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EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud


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AfDB Supports Francophone Africa Start-ups with €6.5M

The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.

The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
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Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.

Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.
Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.
The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.
SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.
The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.
Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.
Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.
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