General News
OLX Believes Classified Ads Space in Nigeria is Booming – Masha
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.
General News
AfDB, World Bank Collaborate to Transform Africa’s Energy Access, Connect 300 million by 2030
Connecting 300 million Africans to electricity within the next five years is within reach through collaborative effort and commitment to implementation, participants at the Africa Energy Summit in Dar es Salaam, Tanzania, heard on Monday.
The summit is organized by the Government of Tanzania and Mission 300, an unprecedented collaboration between the African Development Bank Group, the World Bank Group and global partners to address Africa’s electricity access gap using new technology and innovative financing.
Nearly 600 million Africans lack electricity, a critical resource for economic development and job creation.
Speaking during the first panel discussion of the opening day of the two-day Summit, African Development Bank President Dr. Akinwumi Adesina set the summit’s tone of action and implementation, emphasizing practical solutions to achieve the ambitious goal, from regulatory reforms to private sector engagement.
He called for active involvement from a wide range of stakeholders, including bilateral and multilateral institutions, private sector entities, civil society organizations, and foundations.
“This is mission critical… Our mission here is to say we need everybody… It’s not about us, it’s about those who are not here, and we must listen and hear and make sure this is an action-driven summit… We can’t do Mickey Mouse business…
“We can’t have a situation where Africa does not have enough electricity,” Adesina told the audience, which included several African energy ministers, international development partners and private sector titans, civil society organizations, and foundations, attending the first day of the summit.
The second day of the summit will see the participation of several heads of state from across Africa, who will join more than 1,500 other participants. Together they will chart Africa’s course toward universal access to energy.
“We have a clear path to reaching these 300 million people,” Dr. Adesina stressed, distinguishing the initiative from previous efforts. He emphasized that the program seeks to transform Africa’s vast potential into reality through comprehensive electrification.
“With power, Africa will not just meet expectations but exceed them, becoming a competitive and prosperous continent,” he added.
Mission 300 will incorporate robust accountability measures, including country-specific monitoring and evaluation systems and the Africa Energy Regulatory Index to track progress. “This is all about accountability, transparency, and delivery while letting Africa develop with pride,” Adesina stated.
Adesina highlighted the devastating toll of traditional cooking methods based on firewood and charcoal, resulting in the death of 600,000 women and children annually due to smoke exposure.
The crisis extends beyond energy access, affecting environmental sustainability through deforestation and biodiversity loss. “It’s not just about energy transition,” Adesina said. “This is about dignity. Africa must develop with dignity and pride, and access to clean cooking solutions is fundamental to achieving this goal.” He praised Tanzania for developing a comprehensive national strategy to address this issue.
World Bank Group President Ajay Banga expressed optimism about the initiative, saying its ambitious objectives are achievable through hard work, particularly in ensuring a conducive environment for the private sector to participate. He emphasized the need for predictability of currencies, regulatory frameworks and land acquisition to incentivize investments supporting Mission 300.
In his remarks, Rajiv Shah, President of The Rockefeller Foundation, called global philanthropists to support the initiative.
“Please join us in getting behind the ideas of this initiative and the country compacts that the leaders will be signing. What is at stake is the future of African economies, the future of African young people, and the future of our world,” he said, adding that his foundation was committing $65 million to the program.
Speaking after the fireside chat, United Nations Deputy Secretary-General Amina Mohammed emphasized that energy access is not merely about power delivery, but about what that power will connect and enable.
“It is important that we see food systems at the helm of all of this, and that they are powered by the energy that you will connect,” she stated.
Mohammed explained how energy connectivity would catalyze transformative change in rural communities, particularly for women and youth, through access to digital financial services, online education, and e-commerce opportunities.
However, she stressed that realizing these ambitions would require significant financial engineering and private sector engagement. “The private sector’s got to lean in and it won’t lean in if the message is that your finance environment is not conducive to us,” she noted, calling for reforms in credit rating systems and financial architecture.
“When you want to put together the financing for energy it is not easy and it requires many people at the table in parallel with what we are doing, the policy and the regulation, designing these pipelines and getting the money ready.”
The summit is expected to yield two significant outcomes: the Dar es Salaam Energy Declaration, outlining commitments and practical actions from African governments to reform the energy sector, and the first set of National Energy Compacts, which will serve as blueprints with country-specific targets and timelines for implementation of critical reforms.
General News
Moniepoint’s DreamDevs Initiative Aims to Develop Africa’s Future Tech Leaders
In a bid to unleash Africa’s tech potential and foster a thriving tech ecosystem that drives innovation and sustainable growth, Moniepoint Inc, Africa’s leading digital financial services provider, has rolled out a transformative initiative, DreamDevs with its call for entries.
This ambitious program seeks to nurture the continent’s brightest minds, equipping them with practical tech skills and invaluable real-world experience that will mitigate current challenges around tech talent sourcing in Africa.
DreamDevs targets very recent graduates with a background in technology, computer science, engineering, or related fields who possess fundamental programming knowledge that include HTML, CSS and foundational JavaScript. Over a rigorous nine-week boot camp, these young tech enthusiasts will receive hands-on training and exposure to cutting-edge industry technology.
“We believe in investing in Africa’s future,” says Felix Ike, Co-Founder/Chief Technology Officer, Moniepoint Inc, “and that starts with empowering young people as we join hands to grow Africa’s best talent through technology.
“DreamDevs is about more than just training; it’s about creating a pathway for ambitious graduates to become the driving force of technological advancement in Africa.”
He continues, “We have always envisioned a transformative approach to technology, using it to power the dreams of millions and engineering financial happiness across the land.
“The DreamDevs initiative perfectly aligns with this vision. By providing participants with practical experience, upskilling opportunities, startup incubation, and product development support, DreamDev equips them to become invaluable assets to the tech industry.
“We are thrilled to be part of an initiative that supports the government’s efforts to build a thriving digital economy for Nigeria.”
At the end of the boot camp, standout participants will earn internship opportunities, providing a gateway to further professional development, and all participants have the potential to secure full-time positions with Moniepoint.
As Africa’s tech revolution continues to transform the continent’s socio-economic landscape from fintech to AI, Moniepoint has consistently demonstrated its fidelity to improving the tech talent pipeline with initiatives like Moniepoint HatchDev, which is carried out in collaboration with NITHub Unilag, and organized as a nine-month specialized training programme that produces 300 junior software engineers, 100 intelligent systems developers, and 100 IoT/embedded systems engineers annually.
With the call for entry, universities and other collaborating partners are primed to play a pivotal role in nurturing the next wave of tech dreamers and innovators.
To apply or learn more about the DreamDevs programme, visit http://dreamdevs.moniepoint.com/
General News
Why Paid Media Is Losing Its Edge: The Rise of Earned Media in 2025
By Reuben Kalu
In the evolving digital marketing landscape, 2025 is shaping up to be a transformative year. Traditional paid media, once the backbone of marketing strategies, is becoming increasingly irrelevant. Instead, earned media and owned media are taking center stage, offering unparalleled opportunities for brands to connect authentically with their audiences. In this article, we’ll explore how earned media has disrupted the dominance of paid media and how you can leverage your owned media assets to turbocharge your marketing efforts.
The Rise of Earned Media
Earned media refers to the organic exposure a brand receives through word-of-mouth, media coverage, social shares, reviews, and recommendations. Unlike paid media, which requires financial investment for visibility, earned media is driven by trust and authenticity—two critical factors that modern consumers prioritize when making purchasing decisions.
According to a Nielsen report, 92% of consumers trust earned media more than any form of advertising. This trust stems from the fact that earned media is unsolicited and unbiased, making it far more credible than paid advertisements. As a result, brands that focus on generating earned media are seeing higher engagement rates and improved customer loyalty.
Why Paid Media Is Losing Relevance
Paid media isn’t entirely obsolete, but its efficacy is waning. Here are some reasons why:
1. Ad Fatigue: Consumers are bombarded with ads every day, leading to desensitization and ad fatigue. Many now use ad blockers, making it harder for brands to reach their target audience through paid media.
2. Rising Costs: The cost of digital advertising has skyrocketed, especially on platforms like Google and Facebook. Small businesses often find it difficult to compete with larger corporations with bigger budgets.
3. Declining Trust: Modern consumers are skeptical of paid ads, often viewing them as intrusive or misleading. This lack of trust significantly diminishes the ROI of paid campaigns.
4. Algorithm Changes: Social media algorithms are increasingly favoring organic content over paid promotions. This means brands that rely solely on paid media are at a disadvantage.
The Power of Owned Media
While earned media’s authenticity is its strength, owned media provides the platform to control and amplify your brand’s voice. Owned media includes channels you control, such as your website, blog, email newsletters, and social media profiles. By strategically optimizing these assets, you can create a robust marketing ecosystem that works harmoniously with earned media.
Strategies to Maximize Your Own Media Opportunities in 2025
1. Create High-Value Content
Content remains king in 2025, but not just any content will do. Focus on producing high-value, shareable content that solves real problems for your audience. This could be in the form of:
• Educational Blog Posts: Address common pain points in your industry with actionable solutions.
• Interactive Media: Infographics, videos, and quizzes can significantly increase engagement.
• Case Studies: Showcase your expertise by highlighting success stories that resonate with your audience.
2. Leverage SEO and Content Optimization
Your owned media is only as effective as its discoverability. Search engine optimization (SEO) ensures your content ranks high on search engine results pages (SERPs). Key tactics include:
• Conducting keyword research to understand what your audience is searching for.
• Optimizing on-page elements like meta descriptions, headers, and image alt texts.
• Building backlinks to establish authority and credibility.
3. Develop a Strong Email Marketing Strategy
Email marketing remains one of the highest-ROI channels for owned media. Personalize your emails to cater to the unique needs of your audience segments. Use tools like automation and A/B testing to refine your campaigns and drive higher engagement rates.
4. Engage Authentically on Social Media
Social media platforms are an extension of your owned media. Rather than treating them as one-way communication tools, use them to foster genuine engagement. Respond to comments, participate in discussions, and share user-generated content to build trust and loyalty.
5. Build an Online Community
Communities foster loyalty and provide a platform for earned media to thrive. Create forums, Facebook groups, or Slack channels where your audience can engage with your brand and each other. Encourage discussions, host Q&A sessions, and reward active participants to keep the community vibrant.
6. Integrate Data Analytics
Use data analytics to measure the effectiveness of your owned media strategies. Tools like Google Analytics, HubSpot, and SEMrush can help you track metrics such as website traffic, bounce rates, and conversion rates. Data-driven insights enable you to fine-tune your approach and maximize ROI.
How Earned Media Complements Owned Media
Earned and owned media work best when integrated effectively. Here’s how:
• Amplification: Use your owned media channels to amplify positive earned media, such as reviews, testimonials, and media mentions.
• Engagement: Encourage your audience to share your owned media content, turning it into earned media.
• Credibility: Highlight earned media on your owned channels to build trust and authority.
For instance, if your brand receives a glowing review in a reputable publication, feature it prominently on your website and share it across your social media platforms.
Examples of Successful Earned and Owned Media Strategies
1. Glossier: This beauty brand leveraged user-generated content (earned media) on social platforms and amplified it through its owned media channels, including email newsletters and blog posts.
2. Spotify Wrapped: Spotify’s year-end feature encourages users to share their listening habits on social media (earned media), driving massive organic reach. The feature’s landing page on Spotify’s website (owned media) further strengthens engagement.
3. Apple’s “Shot on iPhone”: Apple’s campaign used customer-generated photos (earned media) and showcased them on its website and billboards (owned media), creating a seamless synergy between the two.
The Risks of Overlooking Earned and Owned Media
Brands that fail to adapt to the shift from paid to earned and owned media risk falling behind their competitors. Over-reliance on paid media can result in:
• High Costs with Low Returns: Diminishing ROI makes paid media an unsustainable long-term strategy.
• Missed Opportunities: Authentic engagement and trust-building opportunities are often lost.
• Decreased Credibility: Consumers may perceive your brand as overly promotional and inauthentic.
Conclusion: Turbocharge Your Marketing in 2025
In 2025, the most successful brands will be those that prioritize earned and owned media over traditional paid strategies. By focusing on authenticity, value, and engagement, you can build trust, foster loyalty, and drive sustainable growth.
Take the first step by optimizing your owned media assets and crafting a strategy to generate earned media. The result? A marketing approach that not only keeps pace with the times but also positions your brand as a trusted leader in your industry.
Call to Action:
Ready to elevate your marketing game? Partner with us to unlock the full potential of earned and owned media. Contact [Your Company Name] today for tailored strategies that deliver real results.
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