Stakeholders have identified inadequate experience in retailing, as well as underdeveloped logistics sector as the major challenges militating against the growth of eCommerce in Nigeria.
Sim Shagaya, founder of a leading online retail chain in Nigeria- Konga, while delivering a keynote address at the Stanbic IBTC Business Leadership Series, in Lagos, said that ‘unambiguous’ focus on customer expectations, supported by appropriate retail and logistics strategy is imperative for the growth of the sector.
He explained that a robust information communication technology infrastructure needed to be put in place in order to stay ahead of emerging trends in the business, adding that trust and integrity are needed in the collective efforts by stakeholders to move the economy forward.
Also speaking at the event, Vusi Thembekwayo, a South African motivational speaker, who described Africa as an interesting hub and the most complex continent in the world, stated that development of the continent depends on Africans.
He pointed out that the projected emergence of 440 new cities on the continent by 2050 provides a huge opportunity for growth in Nigeria, especially in the area of eCommerce business, adding that agility and flexibility, rather than size, have become success-defining factors in customer acquisition and retention.
“Customer satisfaction must form the crux of this business. However, developing local business leadership, which is private-sector driven, remains imperative considering the dynamic and competitive conditions ahead,” he said.
Yinka Sanni, chief executive officer of the bank, explained that the programme was designed to facilitate the emergence of a new crop of business leaders with innovation and integrity, capable of optimizing the growth in the economy to deliver impeccable value to Nigeria.
“A new chapter in the systematic nurturing of new age business leaders opened last week with the debut of the Stanbic IBTC Business Leadership Series.
“The series is fully dedicated to facilitating the emergence of a new crop of business leaders beholden to excellence, innovation and integrity and capable of optimizing the growth in the economy to deliver impeccable value to Nigeria,” he said.