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Carmudi to Dominate Nigeria’s Online Auto Market-Keller
Christian Keller, managing director, Carmudi Nigeria & Ghana, graduated from University of Mannheim, Germany, and holds an MBA from Portland State University, USA.
Prior to joining Carmudi, he worked in corporate strategy at Swisscom and in management consulting at Arthur D. Little and IBM in Europe with a focus on ICT and automotive industries.
He shared Carmudi’s vision for the Nigeria’s automobile market with peter ugwu.
Carmudi.com
Carmudi is Nigeria’s leading online vehicle market place. It functions as a hub that connects buyers and sellers of cars, tricycles and other mobility in that category.
So, if you are looking for a car, you will find, at the moment, over 35,000 unique listed cars on the website. For instance, if you are searching for Toyota Camry of a particular price range, colour, you will find a vast amount of them on our site.
Based on our findings, for a long time, Nigerians have been made 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.
Now, they have a choice 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.
Uniqueness Of Carmudi App
It is less than a year that we launched in Nigeria and we already have most of the cars that are for sale in Nigeria on carmudi.com.ng.
So, it has been a huge adoption in the market. In the beginning, it took some months to convince the professional car dealers to list on our site.
The challenge was how we could convince those that have not used the internet before to place their cars on our site.
So, we used a team of enthusiastic young car lovers to reach out to them; preaching the good news of the internet.
We made them to understand the importance of going online. It was a very big plus to us, because we have become internet evangelists, harping on the need to adopt the platform which has become home for all.
So, our team moved, had discussions with them and that helped us to get have enough interest to first of all visit our site and get firsthand knowledge on the message we brought to them.
Subsequently, we saw them coming to enlist; many did that from their sales outlets using their devices.
Connecting Buyers And Sellers
We simplified the process; making buying easier and better. Now, with car inventory of over 35,000 unique vehicles and an average constant new addition to inventory of cars, trucks and buses in a month, a potential buyer can buy a car that has been certified by auto experts and workshops.
As you continue with the transaction the assurance is that this is the first of its kind in Nigeria; full auto expert reports and history of your Nigerian used car.
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.
Importance of Carmudi to Sellers
Of course, they are quite important, because they are the ones to make available list of cars for sell with the specs.
So, as a dealer you no longer need to park cars by the road side and put a plastic bottle on it. From the comfort of your home all you need to do now is to take three easy steps: Take a photo. Post it. Sell. It is simple.
Take very clean and nice photos of the vehicle; write up a nice advert of your car, with a good and clear description to give buyers a good idea of what they are getting into, and post it right away; then have buyers contact you and sell it. So, you can put the car on Carmudi and based on the potentials, you can sell as quickly as possible.
Mechanism for Verifications and Guard against Fraudsters
Apparently, one of the reason people were skeptical about embrace e-commerce was the issue of fraudsters; people masquerading as genuine to either tap others’ data or tap into their financial records, and this time, posing as real car dealers to defraud people.
One thing is that we do not compromise standards, because the integrity of our platform will be called to question should we compromise.
At Carmudi, we know that customers are concerned about that. I make bold to say that we do not accept scams on our website. Our team is on ground, moving round the streets to actually take photos of the cars that are uploaded.
The quality assurance team (QST) ensure nothing about the car is fraudulent or below standard. As people are uploading on their own, the quality assurance team also does background checks such as calling to confirm biography given by the person. This also guides in ensuring the car actually matches the price.
Connecting Non-Internet Compliant Car Dealers
The way we make money is that we charge small amount of fee from professional car dealers. But if we find out that in the beginning we need to give the space on free-trial to them, to have first-time experience, we do that.
Testing will always convince them; by doing that we have been able to bring most of them online. Most importantly, when they post or list their cars online and get patronized by potential customers, it is evidence to them that online marketing or transactions are real.
Some time, referrals help to market us. People who have gone through the seamless process go to town to inform others. That is the beauty of the internet.
When you are genuine there is nothing to fear about e-commerce. Likewise, the customers, they have nothing to fear. We usual advice them on the processes and things to look out for while buying certain categories of car through our carmudi online journal too.
We found that education is key in this aspect of business as well. At time, people buy out of persuasion from friends or relatives, but there are critical decisions one has to make before buying any brand of car.
The Tide of Competition
There is a vast of sites with some car listed on them, that is the basic truth, but that does not mean it is the business they are set out to do.
Carmudi is the premium cars website, dominating the space and become a house-hold name. To us, every listing is unique; there is no room for complicity.
Our quality assurance is there to ensure high level of compliance by both parties. We work hard every day that all vehicles listes are actually genuine and for sale. Our great customer care representatives will be happy to help you in case of questions.
Impact on Internet Penetration
Internet penetration is key in this kind of start-up (business). Although, it is still on the rise in Nigeria, however, we have seen a shift towards usage.
We just launched the Carmudi App, where you can have over 35,000 cars in your pocket. You can browse it from anywhere at your convenient anytime. So, we hope to leverage on the increasing internet penetration in the country.
Adoption Rate Outside Lagos
We have people all over Nigeria, including the major cities, Lagos, Abuja and Port Harcourt. However, Lagos remains the location in Nigeria where most cars are imported into and people come from far and near to buy cars.
National Identity Management Commission (NIMC) has said that the new National Identification Number (NIN) card can be used by Nigerians for financial transactions including payments and cash withdrawals, in addition to being used as a means of identification.
Kayode Adegoke, head of Corporate Communications, and Peter Iwegbu, director of Card Management Services, of NIMC, disclosed this during an interview on Channels TV.
Speaking on the card’s multi-functional use, Iwegbu said it will enable users to conduct transactions such as ATM withdrawals, online payments, and money transfers, adding that its chip integrates seamlessly with Nigeria’s banking system, allowing users to withdraw money or transfer funds regardless of the bank they use.
For his part, Adegoke pointed out that to streamline the process, banks would issue the cards.
“The way the card is going to be issued this time around, quite unlike the past, is that you have to get it through your respective bank,” he noted.
Adegoke further explained that while the NIN remains the core element of identity verification in Nigeria, the linked card offers extensive utility.
“The NIN is free, and we are enlightening Nigerians that whenever they go to any of our centres, the enrollment and issuance of the NIN are entirely free.”
According to the officials, NIMC is partnering with various stakeholders, including the Central Bank of Nigeria (CBN) and the Nigerian Interbank Settlement System (NIBSS), to implement the card’s financial features.
This initiative is expected to provide value to banks while including previously underserved Nigerians in financial systems.
“We are bringing to them almost over 100 million possible customers who they can bank with,” Iwegbu stated.
In addition to its financial utility, the NIN card has been designed to enhance security and identification in remote areas.
“It also enables us to financially include some of these people who have been excluded and provide identification for those without means like an international passport,” Iwegbu added.
According to Adegoke, “You can decide the bank you want, the branch you want to pick it from, or even choose to have it delivered to your doorstep.”
Iwegbu assured Nigerians that the initiative is designed to address past challenges, including distribution and acceptance issues.
“The card will solve problems of financial and social exclusion, making life easier and smarter for Nigerians,” he added.
Africa Tech Alliance (ATAEx) Awards has, again, lived up to expectations by honouring individuals, organizations, and initiatives that have made significant impact on Africa’s tech ecosystem, focusing on categories such as digital transformation, cybersecurity, ecommerce, financial inclusion, sustainability, and emerging technologies.
For the year 2024, Kashifu Inuwa Abdullahi, the director-general Nigeria’s National Information Technology Agency [NITDA] received the Digital Transformation Leadership Award. The Digital Transformation Leadership Award is a national technology impact award that recognizes individuals or organizations that have made significant contributions to advancing technology in ways that drive national development and positively impact society.
ATAEx Award screening committee for 2024 nominated Kashifu Inuwa Abdullahi for the award in recognition of his role in transforming Nigeria’s technology landscape, fostering innovation, and supporting inclusive digital progress.
Dr. Ayotunde Coker is one of the leading players in the development of the data centre industry in Africa and is the Chairperson of an influential industry group, the Africa Data Centres Association.
Before joining OADC as Chief Executive Officer, Dr Coker led Rack Centre to become a household name in Nigeria and a leading brand in Africa, with global recognition and numerous prestigious international awards.
Throughout a distinguished international career as a technology and business leader, Dr Coker has held senior positions in finance, energy, management consulting and U.K. Government.
His achievements have been recognised by numerous awards, including the Distinguished Manufacturing Alumni Award (Cranfield Institute of Technology) 2020, and in the same year, he was recognised as one of the Global Top 30 Edge Computing Leaders by Data Economy Magazine.
He holds an MSc from Cranfield Institute of Technology and a PhD (Honoris Causa) from ESCAE University.
Other awardees include;
Blockchain Advocate of the Year – JUDE OZINEGBE, founder/Convener, Cyberchain; AI Startup of the Year – NeuRaL AI; African Cybersecurity Mastery Award – DIGITAL ENCODE LTD; ATAEx Internet Exchange Point of the Year – INTERNET EXCHANGE POINT OF NIGERIA [IXPN]; PR Champion of Africa Award – NEWMARK GROUP LTD; Africa Tech Community of the Year – InnovationBed Africa; ICT Company of the Year – TECOM CONCEPTS LTD; Best Data Centre Colocation Provider of the Year – DIGITAL REALTY [Nigeria]; Outstanding ICT Solutions & Innovation Personality of the Year – HAPPINESS OBIOHA, MD/Sales Director, Tecom Concepts Limited; Mobile App Defense Excellence Award – CED TECHNOLOGIES; Most Innovative Digital Bank Award – PALMPAY, and Life Time Achievement Award in Data Centre Management – DR. AYOTUNDE COKER, CEO, OADC.
Other ATAEx 2024 awardees are; ICT Innovation Storyteller Award – CHINENYE ANUFORO, Head, ICT Desk, Sun Newspaper; Digital Reporting Excellence Award – MARTIN EKPEKE, Publisher/Editor In-Chief, ITPulse; Trailblazer in Tech Award – MONIADE ADENIYI; Global Technology Innovator Award – AYODEJI OGUNMOLA; Tech Visionary Award – OLUWAKAYODE DURODOLA; Rising Star in Tech Award – OLANIYI IBRAHEEM; Business Intelligence Mastery Award – ADEDAMOLA BOWALE; Blockchain Community of the Year – LAGOS BLOCKCHAIN WEEK; Champion of Public Tech Infrastructure Award – GALAXY BACKBONE LIMITED; Direct Selling Company of the Year – QNET.
In his congratulatory message to the award recipients, Mr. Chike Onwuegbuchi, the co-convener, said that ATAEx Awards is part of the annual Africa Tech Alliance Forum (AfriTECH), which brings together tech leaders, policymakers/regulators, industry experts, and key stakeholders to discuss the latest advancements and challenges in Africa’s digital landscape.
“Recipients are celebrated not only for their achievements but also for their vision and commitment to leveraging technology for Africa’s development”, he said.
Nigerians will start paying for the new national identity card due to low revenue, according to National Identity Management Commission (NIMC).
Dr Peter Iwegbu, head of card management services at NIMC, said the payment was to ensure that it was produced for only those who needed it.
Iwegbu stated this at the two-day conference organized for journalists in Lagos.
He also added that the decision was made to avoid repeating the mistake of the past efforts to issue physical cards to Nigerians for free, which many did not collect.
“The government’s limited revenue is also a major factor in the decision to make Nigerians pay for the new ID card,” he said.
Iwegbu explained that due to the low revenue generated, the government could not fund the production of ID cards.
Mr Lanre Yusuf, director of Information Technology at NIMC, explained that the idea of a free national ID card in the past was not productive.
“To get the new national ID card, Nigerians will need to make a payment, select a pickup location, and then collect their card from the chosen location. The government has implemented programmes to make the card accessible to the less privileged Nigerians who cannot afford it but require it to access government support.”
“This initiative demonstrates the government’s commitment to inclusivity and equality,” Yusuf said.
He said that the versatile cards were scheduled to launch soon, and sample test cards had already been received.
“NIMC is working with banks across the country, which will make it possible for people to walk into any bank closest to them and request the card.”
“The new national ID card is a multipurpose card that can serve the purpose of identity verification, payments, and even government services,” he said.
The card will be enabled for all government interventions and services across various ministries, departments, and agencies. The card, powered by AfriGO, was launched in partnership with the Central Bank of Nigeria and the Nigeria Interbank Settlement System.
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