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Cheers as Carmudi, Car Dealers Share Success Stories

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Following Carmudi Nigeria’s frantic efforts in bringing convenience to lovers of cars, the leading online car listing in Nigeria on Thursday organized a tour of the United Berger Market in Lagos.

Speaking at the event, Christian Keller, managing director, Carmudi Nigeria, said that based on their findings, for a long time, Nigerians were subjected 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.

Keller said that the tour was part of activities to show the impacts Carmudi has made on car dealers using its platform in about 24 years of their partnership.

He said that Carmudi’s entrance into the market has offered both sellers and buyers choices 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”.

He added that it is now Carmudi’s focus on harnessing the resources of the immediate community and bringing recognition of such places to the world.

The tour created avenue for stakeholders to meet with the Chairmen and other dealers to discuss the issues that affect the used car market in Nigeria such as Government policies, the economy, exposure etc as well as take a tour of the market and talk with the dealers.

Speaking to Nigeria CommunicationsWeek, Mr. Metche Nnadiekwe, president, United Berger Motor Dealers Association, shared the impact of Carmudi’s operations on their business, thus:

“The world is changing and we have to change our business pattern to especially embrace the world of technology. We are enjoying the partnership with Carmudi because they are helping to sensitize the customers using the power of the internet.

“In their beck and call they can communicate with customers in Anambra, Kaduna, or from any part of the country. Since we entered into partnership with Carmudi a lot of activities have been going on here. That’s why we are happy. Simple say that their operations are pluses to our businesses. Before now, we never believed that Nigerians could go to the internet searching for car to buy, call to confirm with you and probably visit the depot to make purchases. We commend their efforts.

“Before now, activities in the market were somehow slow, but since the partnership started, we leveraged the outreach to get connected to the customers.

“Aside that, we can buy or place orders to American firms for cars through the internet too. It makes the business convenient and efficient, removing a lot of middleman interfaces that had in the past caused people pains”.

However, Nnadiekwe said they believe that with better Government policies in place, the process will boost their business.

“Last time we had meeting with the Minister of Trade and Investments a lot of issues were discussed and he promised us that any policy to be implemented will be in phases to allow the stakeholders time to adapt. For instance, the new import tariff on cars, we know the policy was meant to aid local manufacturers, but they are not going to start manufacturing in quantity that will serve everybody at the moment. In as much as we are diversifying, looking out for better approach to do business, it is our collective will that government policies will not be skewed against us”.

He also advised customers who buy cars through online platforms to always double-check with Carmudi and the sellers to avoid playing into the hands of fraudsters.

Also speaking, Arnaud Devigne, managing director, African Internet Group, Classified, said that they have penchant commitments to actually impact the emerging market by helping businesses and startup achieve their goals.

“That is why engage local people anywhere we are established. From what the car dealers are saying, you could see the happiness in them that the platform has helped them to change their business processes, attract customers and keep making more customers,” he said.

Devigne added that Carmudi’s footprints in the market are testimonies of the transformative power of the internet.

“At AIG we simplify processes in internet usage; for instance in Carmudi, making buying easier and better. 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,” he added.

United Berger Market also referred to as Africa’s largest automobile market for used cars has over 10,000 vehicles valued at several billions of Naira.

The market which was officially recognized in 1993 as one of Africa’s Largest used car market grew to become the largest in Africa.

The market presently has over 500 registered car dealerships and produces annual revenue of up to 3 billion naira according to reports.

There has also been a steady increase in automobile sales in Nigeria.

Reports showed a 300% increase of automobile sales between 2010 and 2013 in Nigeria thus creating a vibrant market for used cars.


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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.

E-Business

StarNews, Global Black Economic Forum Launch Business Competition In Partnership with MTN & USAID

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Africa’s leading video streaming platform, StarNews Mobile and the Global Black Economic Forum (GBEF), have announced a call for applications for the launch of their Business Competition in Lagos, Nigeria.

Held in partnership with MTN and United Nations Agency for International Development (USAID), the initiative will empower Nigeria’s most promising businesses that are classified as Small-Medium Enterprises (SMEs) with invaluable investment and partnership opportunities from the USA.

Held over 10 weeks between April 8th to June 14th, hosted exclusively on the StarNews Biz Channel on the StarNews platform, this competition offers a platform for emerging entrepreneurs to showcase their ventures and gain national visibility.

With subscribers voting for their favourite candidates, the top 20 contestants will seize the spotlight and make their mark on the business landscape.

The StarNews Business Competition in partnership with GBEF delivers a unique opportunity for thriving Nigerian SMEs to access mentoring, funding, partnerships and socio-economic development tools through the Global Black Economic Forum.

With the prospect of securing cash prizes through StarNews worth up to NGN5,000,000, getting access to StarNews’s network of investors and the opportunity to gain national visibility by having their business on the StarNews web platform.

The top three winners will also receive coaching from GBEF’s Academy for Advancing Excellence and become part of GBEF’s ecosystem of global leaders committed to social and economic justice across the Black Diaspora.

Previous speakers at GBEF convenings from the entertainment sector include Wyclef Jean (Haitian Musician & Activist), Debra Lee (Former CEO of Black Entertainment Television – BET) and Ceci Kurzman (Founder of Nexus Management Group). Applications will close on April 5th 2024.

Speaking on the competition’s launch, Guy Kamgaing, Founder and CEO at StarNews Mobile, says “The StarNews Business Competition is a passion project close to our hearts at StarNews Mobile.

It’s about discovering the most promising business entrepreneurs and creators in Nigeria, opening up global opportunities for them and providing them with the resources and tools to achieve their goals.

By partnering with MTN, USAID and GBEF, we want to be a platform of empowerment for these SMEs by helping them give back to the communities that are supporting them.”

According to the US Embassy and Consulate for Nigeria, over 80% of Nigerian startups are incorporated in the United States and more than 60% of venture capital funding in Nigerian startups accounted for by the US.

In 2023 alone, Nigerian startups raised a total of $398mn however, this signalled a 66% funding decline compared to 2022 due to the global economic downturn, reinforcing the massive need for a fresh injection of capital and business support for Nigeria’s emerging SMEs.

Alphonso David, President and CEO of the Global Black Economic Forum notes that, “Our partnership with StarNews Mobile is a critical resource as we continue to build the collective strength of entrepreneurship across the Diaspora.

“Building a sustainable ecosystem of Black entrepreneurs in the United States and across the African continent is essential to create a future that makes economic opportunity and economic freedom a reality for all.”

A sister company to ESSENCE, GBEF advances its work by convening global summits and conferences, bringing together world leaders, business leaders, entrepreneurs, celebrities and civic leaders to address the most challenging problems facing our communities.

GBEF’s Academy for Advancing Excellence facilitates workforce and leadership development strategy, addressing the talent pipeline & employee lifecycle, providing leadership development & coaching, and conducting institutional assessments & research.

GBEF also develops and implements economic and social justice policy recommendations with partners ranging from civil and human rights organisations to government entities and corporations that advocate for economic opportunity, social justice, and health equity through thought leadership, advocacy and litigation.

Launched in 2017, StarNews Mobile empowers African content creators with the unique opportunity to monetize their work through a subscription model, boasting over 4 million subscribers and a thriving community of more than 120 content creators.

With a strong presence across six countries including Cameroon, Nigeria, Côte D’Ivoire, Congo, Benin and Ghana, the platform has also established key partnerships with major telecom operators such as MTN and Orange.

To-date, StarNews Mobile has secured over $8mn in funding with its most recent raise – a $3mn pre-Series A funding round in October 2023 – led by Janngo Capital with participation from French football players Aurélien Tchouaméni, Jules Koundé and Mike Maignan.

 


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Companies Invest More than $100,000 Yearly to Upskill their Cybersecurity Teams – Study Reveals

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Over 70% of businesses pay more than USD $100,000 for additional training annually to keep skills of their cybersecurity employees up to date, a recent global Kaspersky study has revealed.

However, the surveyed companies also highlighted that there was a lack of relevant courses covering new challenging spheres in the educational market and stated that training does not always bring them the expected result.

In its recent study ‘The portrait of the modern Information Security professional’, Kaspersky examined the topic of the global cybersecurity staff shortage, analysing the exact reasons businesses lack cybersecurity experts, and identifying the ways they evaluate and upskill their cybersecurity workforce¹.

According to the research, companies are investing significant amounts in upskilling their cybersecurity teams: 43% of organisations globally say they usually spend between $100,000 and $200,000 per year on information security courses, while 31% even invest over $200,000 for training programs. The remaining 26% state they usually pay less than $100,000 for educational initiatives².

However, cybersecurity practitioners also note that the educational market is struggling to keep up with the rapidly changing industry and fail to deliver the necessary training programs on time.

Survey results for the Middle East, Turkiye, Africa (META) region shows that the scarcity of courses covering new challenging spheres (48%) was the main problem for those searching for cybersecurity training.

50% of respondents from the META region also stated that trainees tend to forget what they learned because they had no opportunity to apply newly acquired knowledge, therefore the courses were useless to them.

The need for special training pre-requisites such as coding and advanced mathematics, which were not specified at the pre-registration stage were also problematic for 37% of practitioners from the META region.

“With a constantly evolving threat landscape, businesses should continually improve the skills of their cybersecurity personnel in order to be well prepared for sophisticated cyberattacks.

“Developing high-profile specialists within the company and building internal expertise can be an effective strategy for organisations that aim to retain existing employees and allow them to grow professionally, instead of constantly hunting for new candidates and checking their professional backgrounds and practical skills.

“For organisations served by Managed Service Providers it is also important to maintain a pretty high level of expertise internally and use the same language when discussing the scope of services and Service Level Agreement with them,” comments Veniamin Levtsov, VP, Center of Corporate Business Expertise at Kaspersky.


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Heirs Insurance Launches User-friendly Website for Stakeholders

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Heirs Insurance Group, Nigeria’s fastest growing insurance group, has launched a new website that delivers the most user-friendly insurance experience in the industry.

Heirs Insurance Launches User-friendly Website for Stakeholders

In addition to its features that aid simple navigation, the website also personalizes the insurance experience taking customers through a short journey that enables them to make decisions quickly on the best insurance plan to support their personal and business success, or access competent insurance advisors to speak with.

According to Ifesinachi Okpagu, chief marketing officer, Heirs Insurance Group, the website, www.heirs insurance group.com, embodies the ethos of the brand: the delivery of simple, quick, and accessible insurance service that delights customers and brings the uninsured much closer to taking up insurance plans.

She said: “Today’s customers want simplicity and this new website delivers on that request, ensuring that people find the right insurance solutionsfor their needs in a few minutes. We are empowering customers to take control of their lives, their businesses, assets, and their most cherished people.” Heirs Insurance Group has been at the forefront of pioneering a new era of insurance solutions since its launch with the roll-out of various initiatives including a seamless mobile app, USSD; Prince, its intuitive chatbot; InConnect, its partnership portal Digital Experience Centre; and more. With the launch of this website, Heirs Insurance Group solidifies its position as the leading digital insurance company in Nigeria, democratising access to insurance for all.


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