E-Commerce: How much longer can Jumia hold out in Nigeria? - ITREALMS

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The recent announcement of Jumia Food’s exit from Nigeria, its biggest market, has set alarm bells ringing among industry watchers. Dr. Fred Bongani, a former employee and founding staff, examines the fallouts from this latest misadventure.

E-Commerce, despite its potential as a goldmine, remains one of the most challenging business sectors in Nigeria and indeed, the African continent.

Prof. Stevenson: Techpreneurs must avoid Jumia, Konga strategies to survive - ITREALMS

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E-commerce in Nigeria has often been touted as a difficult terrain and not for the faint-hearted.

This position is backed up by concrete facts and verifiable evidence, especially when one considers the well-documented struggles of several players in the sector. Despite the allure and glitter that the segment holds, one requires deep pockets and a strong dose of guts and bloody-mindedness to survive in e-commerce, especially in a very challenging market such as Nigeria.

Zinox not ready for Jumia acquisition now - ITREALMS

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While there may been some substance to the rumoured acquisition of pan-African e-commerce brand, Jumia by Sub-Saharan Africa’s leading tech conglomerate, the Zinox Group and to possibly merge it with Konga, there is currently no concrete interest.

This was revealed by Gideon Ayogu, Head of Corporate Communications, Zinox Group, in a virtual chat with newsmen on Saturday, May 21, 2022.

Jumia shares surge over rumoured acquisition by Zinox - ITREALMS

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Speculations of a potential takeover of pan-African e-commerce firm Jumia Technologies by the Zinox Group, Sub-Saharan Africa’s leading tech conglomerate, has seen shares of the e-commerce giant rise by 14.81 per cent.

Investigations showed Jumia’s shares currently trading at $5.89 on the floor of the New York Stock Exchange (NYSE) after it spiked by 14.8 percent on Friday May 13, 2022.

Zinox eyes Jumia for acquisition - ITREALMS

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One of the major e-commerce players in the African market, Jumia, appears to be battling severe headwinds after its share price – which once traded at record highs of $59.96 tumbling down and currently trading at less than $5 – prompting speculations of a loss of investor confidence and a surprise takeover by Sub-Saharan Africa’s leading tech conglomerate, the Zinox Group.

In April 2019, Jumia had listed on the New York Stock Exchange (NYSE) with an eye-catching IPO which witnessed share prices opening at $14.5 and rising as high as $26. However, two weeks after, a damning report by Citron Research had accused Jumia of fraud, describing its stock as worthless. Specifically, the report had highlighted discrepancies in financials between investor presentations and SEC filings by Jumia, accusing its management of fraudulently inflating order numbers, while also labelling it a company burdened with inefficiencies.

Jumia dispatch rider accident left 1 dead in Ikeja

ITREALMS:

A dispatch rider, otherwise known as dispatch associate within Jumia circle had an accident which left one passerby dead at Adeniyi Jones, Ikeja, reports ITRealms.

The dead person, whose name cannot be ascertained at the time of going to press, met his death on Monday morning at about 6:50am following a hit by a commercial tricycle rider, involving the dispatch rider too.

This, ITRealms also gathered, led to several people getting injured.

But Jumia Nigeria in an official response told ITRealms that they were heartbroken with the news.

“We are heartbroken to report that a number of people were injured and a passer-by lost his life when the tricycle rider hit him as a result of the accident,” our source confirmed.

Jumia Nigeria management also used the opportunity to send their thoughts and prayers to the family and friends of the deceased.

They equally assured partnering the Police in determining the exact cause of the accident as investigations continue.

Uj. N. Dominic/GEE

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Growing Nigerian economy via mobile, telecom sector

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Undoubtedly the giant of Africa - with an estimated population of 194 million people, Nigeria remains the largest mobile market in the continent - and still has more potential for growth and for competing on a level-playing ground with the developed nations. Although the economic growth of the country might not be as fast-paced as its counterparts’, it is full of hopes and promises. 

The mobile trends published in the 2017 Nigerian Mobile Report, by Jumia Nigeria - Africa’s biggest e-commerce platform, provided some convictions for this belief. In summary, the report examined how the market has democratized mobile internet use, the consumer behaviors driving increased smartphone adoption and the role of the different stakeholders within the sector.

Jumia is set to release the 2018 edition of the Mobile Report, which will focus on various mobile trends in the country and in Africa at large. And Juliet Anammah, CEO, Jumia Nigeria is as excited as everyone else about the report. But, while we patiently wait for the report pending its release, let’s examine some facts and figures from the 2017 report.

There were about 150 million mobile subscribers equivalent to 81per cent penetration (as a percentage of the population) in 2016. Internet penetration was at 18per cent with 216 million internet users while Nigeria's internet penetration was much higher at 53per cent; its mobile subscription was similar to Africa's at 81per cent penetration (960 million mobile subscribers). To benchmark this data, a similar report by the Nigerian Communications Commission (NCC) put the number of subscribers - by the end of December 2016 - at 154 million. This subscriber base is a sum total of all the active subscribers for telephony services on each of the licensed service providers utilizing different technologies. The difference in the number of subscribers presented by both reports can be attributed to the lack of accurate census in the country.

Meanwhile, the percentage of internet penetration widened increasingly; number of internet subscribers peaked at 97.2 million (more than half the number of mobile subscriptions) by end of 2016 - which represented a much higher penetration rate than the rest of Africa combined. The subscriber base of internet users in the country was predicted to increase by at least 30per cent by end of 2017. With the number of Nigerians having access to the internet - mostly through smartphones - growing in leaps and bounds, it’s a clear indication that there is a huge potential for e-commerce in the country. For instance, Jumia recorded 394per cent growth on the sales of smartphones between 2014 and 2016, mostly driven by an increasing range of lower smartphones price points. And 71per cent of website visitors on Jumia Nigeria in 2016 used their mobile phones to shop, whereas only 53per cent of Jumia African customers did so.

Although, the contribution of the telecom & mobile sector to the country’s GDP was indeed a small fraction, according to a report by the NCC - only 9.13per cent was directly or indirectly accrued from the sector. Yet, it is worthy of note to mention that it was a great leap from the previous year. E-commerce companies like Jumia - present in 15 African markets - are facilitating the promotion and distribution of both high-end and low-end price points mobile phones in Nigeria. The NCC is not also relenting in exercising its power to regulate the operations of the licensed telecom operators especially in the area of voice & data tariff.

So, what is the future of the telecom and mobile sector in Nigeria? To witness an improvement over the previous years will require a collective, yet individual effort from both the private and public sectors. Primarily, the growth of the sector, among other things, depends on the availability of affordable mobile phones & data tariff.  To the former, Jumia is committed - with its partners - to facilitating and leading the charge in this regard.

The week of March 15th - 25th, 2018 will be interesting and exciting for the entire country for two reasons: the 2018 edition (4th report) of the Nigerian Mobile Report will be released at a press conference; and secondly - although still related to the first event is the commencement of Jumia Mobile Week (an entire week dedicated to the sales of mobile phones at the best prices in Nigeria). Nothing beats the excitement of getting your dream mobile phone at nearly half the price and such was the frenzy all over the Nigerian cyberspace in 2017. From the moment you spot the juicy deals, the swift race for the fastest fingers, the sigh of relief when you have successfully placed your order and the short wait for your order to be delivered. Last year, Jumia Mobile Week featured 3 mouth-watering flash sales every day at nearly 50per cent off; both night crawlers and day troopers had a piece of the pie. MTN also gave out free MTN 4G sim and 20per cent data bonus on their data plan everytime you recharged for the first 3 months. There was also juicy discounts on mobile brands like: Infinix at 40per cent off; Tecno at 20per cent off; Motorola at 50per cent off, and Innjoo at 20 per cent off.

So, this year, which brands will top the list of Jumia top selling mobile phones? How much discounts will be available to customers and on what mobile brands? How much money are you hoping to save during this year’s Mobile Week? Which mobile phones will have the best deals this year? How much discount will Jumia offer on purchases done on its mobile App? How do you get to participate in the Treasure Hunt so as to win a coveted prize? How do you participate in the fashion accessory giveaways on social media by your favourite fashion celebrity/icon?

Your guess is as good as mine. But, you will find answers to all of these questions during the  week of March 15th through 25th, 2018! Add it to your calendar. Join the conversation on social media using the #JumiaMobileWeek2018, and follow @JumiaNigeria across all social media platforms.

*Contributed by Laolu Oloyede, Public Relations & Offline Marketing Department @Jumia

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Jumia preys on Halloween with top 5 Nigerian costumes

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This year, Halloween, an annual holiday celebrated on October 31st in several countries around the world, including Australia, Canadaa nd the United States of America, is not a Nigerian culture and has never been announced as an official holiday in the country.

However, thanks to Nigeria's love for anything 'western world' and their proclivity for revelry, some people in the country are now seen dressed up in elaborate costumes and trick or treating around major cities on Halloween day every October.

This year, from Club Illusion’s Halloween party set to hold on Friday28th October atConcord Owerri to Halloween Party – THE LIGHTHOUSE, holding Saturday  29th October  2016 at Marina Lagos, there are so many events already lined up for Halloween. And with the D-day fast approaching, we at Jumia Travel know that it’s crunch time for finding the perfect costume. Given that we know your costume is preying on your mind, we have come up with unique ideas for costumes that can reflect the Nigerian society. If you are going to celebrate Halloween in Nigeria, wouldn’t it be best to make your costume a little indigenous? Read on to get the inspiration you need.

Scary Ghosts/Witches:

A large number of people tend to put on scary costumes for Halloween around the world. From the most terrifying haunted houses to zombies, vampires and monsters like Frankenstein and King Kong, these costumes are geared towards hyping the Halloween spirit. But as Nigerians, you can also channel same spirit through our local scary characters such as Willie Willie and Karishika. Thanks to music artiste Falz; most people have a more modern idea of what the Karishika costume would entail.

TV Favourites:

Another type of costumes that dominate the Halloween scene are costumes depicting favourite TV characters or just famous characters from movies. In Nigeria, some old favorites include Papa Ajasco and  Madam Pepeye from the Papa Ajasco series, Zebrudaya from the Masquerade, but in more recent times, Jenifa from Jenifa’s Diaries series (especially season 1), Akpororo from Comedy shows, e.t.c

The Fashionista:

Love fashion? You can dress as a fun-loving Nigerian fashionista! Don a big, ostentatious wig and peculiar heel boots to go as Denerele, or put on very light skin powder and loud (but perfect) facial make up strut like Bobrisky. You may also want to play the “fashion victim” and re-enact some of the most memorable fashion fails in the Nigerian fashion scene. A good one is the famous Nollywood actress and Actor’s Guild of Nigeria’s President Ibinabo Fiberesima, who came out looking like a peacock at the AMVCA 2016.

Music Icon:

Music artistes in Nigeria generally dress elaborately whether they are on stage or just on the streets and it is easy to copy any of their looks for a marvelous Halloween event. Some that we however consider most iconic to pull off for this 2016 include Cynthia Morgan, FELA , Lagbaja, and of course Falz the bahd guy. For those who want to dress up as a duo, they can consider going as PSquare.

The Oshiomole:

This Halloween, you can embody the spirit of the Oshiomole by rocking his famous military inspired outfit, a Khaki brown shirt and matching shorts with and an “APC” hat (made in China).  You could also dig around for his favourite words or slangs and infuse them in your conversation throughout the day. That gets you extra points.

Contributed by Nkem Ndem, a PR Associate @ Jumia Travel

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PIx: Derele, Funke and Adams

MIA Xiaomi Smartphones make way into Nigeria through Jumia

ITRealms:

 

MIA Group has announced that two of her Xiaomi’s iconic smartphones will be made available in Nigeria through its partnership with the e-commerce giant, Jumia, ITRealms reports..

Valued at $45 billion, about N8.95 trillion, Xiaomi has now positioned itself among the smartphone giants of this world, becoming the world’s fifth-largest smartphone maker in just five years. It creates high- quality smartphones with remarkable software at amazing prices.

MIA Group and Jumia well intend to take Nigerian consumers by storm in this market of immense opportunities: 30 per cent of the 140 million phone subscribers in Nigeria own a smartphone, and smartphone sales for 2015 are expected to reach 12 million, ITRealms  gathered.

The Chief Executive Officer (CEO), Jumia Africa, Jeremy Doutte, expressed his enthusiasm regarding the partnership: “We have seen such a strong appetite for quality smartphones in Nigeria that we look very much forward to providing consumers with more high-end smartphone options at incredible prices”.

Redmi 2 and Mi 4 will be introduced in the second week of November 2015 to Nigerian consumers through a dedicated shop mia.jumia.com on Jumia, and will sell for N29,000 and N56,000 respectively.

Tech fans and connoisseurs will surely appreciate Redmi 2 for its fully laminated 4.7-inch HD screen and 8-megapixel camera, which comes for an entry-level price. Xiaomi’s flagship phone, ITRealms learnt, Mi 4, has a gorgeous design with a precisely engineered stainless steel frame. It comes with a 5” IPS Full HD display that is incredibly sharp, a 13MP f/1.8 rear camera for beautiful pictures, and a front-facing 8MP camera for great selfies. With its excellent price- quality ratio, Mi 4 will surely appeal to users in Nigeria.

The President of MIA Group, the distribution group for Xiaomi in Africa, RJ van Spaandonk, stated: “We see Nigeria as a key country for smartphone growth and we are excited to be partnering with Jumia to offer consumers in Nigeria Xiaomi’s high-quality smartphones at amazing prices.” Jumia’s upcoming Black Friday on November 27, soon after Xiaomi’s launch on the e-commerce website, will very likely give the brand a tremendous head start in the game.

Cyriacus Nnaji/GEE

 
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Android One makes debut in Nigeria, as MTN offers 1g data @N500 on Infinix phones

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Google Nigeria in partnership with equipment manufacturer Infinix, mobile operator MTN Nigeria and online retailer Jumia, Tuesday in Lagos, launched the AndroidOne initiative with Infinix HOT 2-X510, reports ITRealms.

This is coming as Infinix HOT 2-X510 smartphone, which is the first device to run on Android One in Africa, comes at a recommended retail price of N17,500 in addition to N500 1Gig data from leading mobile operator, MTN Nigeria.

AndriodOne initiative, Google said, is part of an on-going initiative to bring high-quality smartphones to millions of people in Asia, Africa and other parts of the world, just as the offer makes Infinix commercially available across give countries, namely Nigeria, Egypt, Ghana, Ivory Coast, Kenya, and Morocco.

The Vice President, Product Management at Google, Mr. Caesar Sengupta, said that over three billion people across the world are using the internet to live better, richer lives and create opportunities for themselves and their communities.

“The driving force behind this growth - particularly in Nigeria and many other African countries -  is smartphones. In Nigeria, over 70% of online users access the web via their phones. Android One offers high quality mobile devices that are great to use, but that are also affordable,” he said.

Managing Director, Infinix, Mr. Ben Jiang told ITRealms at the launch that Infinix HOT2 phone, offers a high-quality experience, with latest version of Android known as 5.1.1 Lollipop.

He also said that Infinix has been structured to constantly update its Andriod Operating System (OS); an update that will offer Google’s new material design, improved battery life, enhanced security features, and smarter notifications.

In terms of hardware, Mr. Jiang the phone features front and rear-facing cameras, 1G or 2G of memory, fast quad-core MediaTek processor, long battery life and other features particularly important to Nigerians, including dual SIM slots, a FM radio tuner, 16 GB on-device storage and a microSD card slot for additional storage.

The Infinix HOT 2 smartphone comes in two variants; the standard version, which will be available in black, white, blue and red, and the premium version which will be available in gold.

Through Google Play, Android One phone users have access to over one million apps that allow them to message friends, make video calls, socialize, check news and weather, and play games. Google apps such as Gmail, Google Maps, YouTube, Google Search, and Google Translate will come pre-loaded on the phones.

Google also announced that in coming weeks much of YouTube will be available offline in Nigeria, Egypt, Ghana, Kenya and Morocco, meaning that people can store videos in the YouTube app when they are on WiFi and watch them later when they not online — a great benefit for times with a slow connection or re-watching videos without using up a data plan.

 
Reiterating MTN position, the Managing Director, MTN Nigeria, Mr. Mike Ikpoki said the offer of N500 reduces data costs for those who buy the Infinix Hot 2 Android One phone with an MTN SIM card, customers would get 1GB high speed data at N500 for a 12 months period, and the latest Android platform updates for free.

+Remmy Nweke (ITRealms) +ITRealms DSA +Google Africa +MTNNG +Taiwo Kola-Ogunlade +Infinix Mobile (Nigeria) 

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