E-Business
eCommerce and the Nigerian Digital Economy
Technology advancements had continued to enhance the standard and process of business operations across the globe.
From its telling impact on global communications, to manufacturing and transportation, technology provides a springboard for enterprises to flourish and efficiently accomplish their business initiatives on a daily basis. Today, every nation looks to explore the loads of possibilities in the digital economy driven by technology.
Nigeria is not an exception to this. The federal government is pushing for Nigeria to key into opportunities in the digital space to grow the economy.
Policies have been formulated, with a digital masterplan to guide the process of attaining the set goals. There has also been a machinery in motion to sensitize the people on the opportunities open to them in the digital economy space.
While several social and economic investments combine to make up the digital economy, e-commerce and its chain of business activities has so far been the major driver of Nigeria’s digital economy.
Thousands of sellers are connected to millions of consumers through the likes of Jumia, Konga and Jiji. Hundreds of Thousands of informal retailers are stocking directly from manufacturers through platforms like Alerzo and TradeDepot.
The Federal government recently said the current e-commerce spending in Nigeria has grown to $13billion per annum and is expected to hit $75billion in revenue per annum by 2025. It also said e-commerce grew in Nigeria from 14% in 2019 to 17% in 2020.
The Director General of the National Information Technology Development Agency (NITDA), Kashifu Adbullahi also touched on the impact of e-commerce on everyday life and its crucial space in the digital economy.
“The most profound impact for me is how it makes life more convenient and less disturbing. When covid came, we were disrupted and the only way to keep going was these online services. E-commerce is critical to any online services or digital economy because when you consume a service, you need to make a payment and you can only do that through e-commerce,” he said.
The place of e-commerce in the Nigerian economy is being boosted by gradual transition of informal retailers into the online shopping community. Informal retailers have been an integral part of the Nigerian economy since inception. Majority of the nation’s SMEs operate in this space. “The informal sector is classified into micro, small and medium enterprises (MSMEs).
The sector makes up 50% of the nation’s gross domestic product (GDP), making it the major source of economic growth, productivity, and competitiveness. Moreover, 90% of Nigeria’s retail market transactions happen in the informal channels, and the Food & Consumer Goods retail market is worth (estimated) over $40billion,” said Adewale Opaleye, Chief Executive Officer of Alerzo Limited.
Commendably, e-commerce in Nigeria is attracting interest from investors pumping millions to set up technology needed to drive the sector. Given its growing importance and acceptance, getting more Nigerian Customers sellers and informal retailers onboard e-commerce will no doubt be key to Nigeria’s digital economy success.
E-Business
Ozi Launches to Redefine $460Bn Global Package Delivery Market
Ozi (www.ozionline.com), a pioneer community-driven delivery app, launches today, offering users a new way to send packages and earn extra cash.
By connecting people traveling with those needing package delivery, Ozi turns everyday trips into profitable opportunities, aiming to disrupt the global parcel delivery industry, also known as the Courier, Express, and Parcel (CEP) market, currently valued at around $460 billion.
Imagine this scenario – You’re traveling to Abuja from Lagos and have empty space in your car. With Ozi, that unused capacity can earn you extra cash by delivering a package along the way. Or maybe you’re a small business owner who needs to send a package to another state but balk at the high cost of courier services.
With Ozi, you can find a verified traveler heading in the right direction to handle your delivery, Mr. Ikenna Ani, Ozi’s co-founder and CEO, said during the startup launch held today at Four Point by Sheraton, Victoria Island, Lagos.
“Why travel empty when you can earn?” asks Mr. Ani said. “Ozi allows travelers to make the most of their journeys while helping others get their packages delivered with ease.”
“This simple yet powerful idea leverages the daily movements of millions of Nigerians to create a logistics network that is fast, affordable, and efficient.
“Ozi’s unique approach leverages the everyday movement of travelers to bridge this gap, creating a system where everyone benefits”.
He said that the choice of Nigeria as the first launch-location for Ozi was due the potential the country holds in the parcel delivery sub-sector.
“Actually, we had the opportunity to launch OZI in another country outside Nigeria but for our thrust in the Nigerian dream and its potentials made us choose the country as the first to witness Ozi’s innovation”, Ikenna Ani said. “Travelers can now monetize their journeys by delivering packages along their routes, while senders gain access to an affordable and convenient alternative to traditional courier services”.
Ozi combines convenience, innovation, and community to deliver a win-win solution for Nigerians. From quick intra-city deliveries to long-distance trips, Ozi offers an affordable, efficient solution for all.
Whether you’re a traveler looking to earn on your trips or a sender seeking a reliable delivery option, Ozi offers a solution that works for everyone.
In the words of Engr. Christian Chime, the co-founder and Chief Technology Officer of Ozi, “Ozi’s mission goes beyond simplifying package delivery. The app represents a broader effort to create shared value for all stakeholders in the logistics process. By connecting senders and travelers, Ozi creates a win-win scenario where costs are reduced, trust is built, and income opportunities are created”.
“Ozi prioritizes safety and transparency. Every user, whether sender or traveler, undergoes a comprehensive verification process that includes ID checks and phone number authentication. This ensures that all participants in the system are trustworthy and accountable”.
To enhance security further, Engr. Chime said that Ozi offers real-time tracking for all transactions. Senders can monitor their packages throughout the delivery process, ensuring peace of mind. For high-value items, optional insurance coverage provides an added layer of protection, reinforcing Ozi’s commitment to reliability.
“At Ozi, we understand that trust is critical in logistics,” the CTO added. “That’s why we’ve built a platform where every step is designed to safeguard both the traveler and the sender.”
“Ozi is more than an app; it’s a community where everyone wins,” said Azubike Augustine, co-founder/COO of Ozi.
“From today, travelers across the globe can sign up through www.ozionline.com and start making every trip count”, he said. “We have put measures in place to ensure only genuine and verified travelers or senders use the platform. Security is primary for us”.
He added that the app will be released on Google Play Story and Apple (iOS) on January 1, 2025. Ozi Live on Instagram | Facebook.
E-Business
Ride the ‘Wicked’ Wave: Temu Brings Green Magic to Christmas
Temu is set to enchant the holiday season with its unique blend of green magic, bringing a touch of festive wonder to Christmas celebrations. The initiative, themed “Ride the ‘Wicked’ Wave,” promises to deliver an unforgettable experience, combining technology, entertainment, and commerce to create a magical holiday atmosphere.
Temu’s green magic initiative aims to captivate audiences with a variety of festive offerings, from fashion to home decor, handmade crafts, beauty items, chic clothes, shoes, and more.
The platform’s innovative approach ensures that customers can enjoy a seamless shopping experience, with free shipping on all orders1.
As part of the celebration, Temu has also introduced a magical winter Christmas backdrop, perfect for creating a festive ambiance at home.
This backdrop, made from high-quality polyester, is designed to bring the spirit of the season to life, making it an ideal addition to any holiday decor.
With its commitment to providing exceptional products and services, Temu continues to set new standards in the e-commerce industry, ensuring that customers can enjoy the magic of Christmas in style
E-Business
Kaspersky Cybersecurity Experts Warn of Evolving Holiday Scams
With the holiday season here, it’s not only a time for magic and celebration but also a prime opportunity for fraudsters to exploit the festive rush for gifts and bargains.
Amid the sparkle of year-end celebrations, cybersecurity experts at Kaspersky have identified several prominent scams targeting consumers across various regions and languages.
Fake holiday shops
Deceptive online stores mimic the look and feel of legitimate e-commerce sites, offering seasonal items such as decorations, gifts, and even trees at steep discounts.
These sites often appear highly localised, adapting their language and currency based on the user’s geographic location, leveraging data extracted from browsers.
Victims typically encounter these stores by following links in ads or pop-ups.
These sites aim to steal funds. Often, these fraudulent stores exist only for a short period, as they get flagged by the vendors of goods.
Free mobile data offer
This scam plays on the allure of free services, claiming to provide free mobile data valid across all major telecom providers.
In order to receive the free data, victims are required to share the promotion link with 10–15 contacts via WhatsApp, ensuring the scam spreads exponentially.
After sharing, victims are prompted to enter their personal details — name, phone number, and email — into a form.
The collected data is then sold on the Dark Web or used in other fraudulent activities.
In some cases, victims unknowingly download malware that compromises their devices, leading to further exploitation.
Holiday payments on behalf of government agencies
Fraudsters impersonate government authorities, promising fictitious payments in celebration of the holidays.
This scam has been reported in several African countries, including Kenya and Nigeria.
To receive payment, victims are directed to fill out a survey which requires personal details like name and phone number.
Once the survey is completed the user is asked to share the link to the announcement with their connections via WhatsApp.
These details are collected and added to fraudulent databases, then sold to third parties or used for phishing attacks and identity theft.
This scam exploits trust in government systems and the festive spirit of giving.
Christmas recipe scam
This scam begins with a seemingly harmless email promoting a holiday cake recipe.
Victims are encouraged to pay a small fee to access the recipe.
Once payment is made, the victim’s credit card information is stolen. The fraudsters also collect other personal information essential for accessing banking services.
“Holiday scams are not a new phenomenon, but they have evolved to become increasingly sophisticated, leveraging regional traditions and technology to exploit unsuspecting victims.
The rush of the holidays makes people more vulnerable — they’re distracted, eager to grab a deal, or trust promotions that align with festive themes. Cybercriminals are not just stealing money — they’re building massive databases of personal information that fuel future fraudulent schemes.
The holiday season is a time for joy and giving, but users need to remain vigilant to ensure they’re not unknowingly giving fraudsters the tools to exploit them further,” said Olga Svistunova, Senior Web Content Analyst at Kaspersky.
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