Nigeria’s e-commerce sector holds considerable potential for future growth, with sales set to double between 2016 and 2020. In recent years major African e-retailers have established operations in the country, with Zinox Technologies’ recent acquisition of Konga highlighting the sector’s growth potential and attractiveness to foreign investors...
Combining oil and gas wealth with the entrepreneurial efforts of its predominantly young population, Nigeria has developed a business-friendly environment over the past two decades of civilian rule. The country has effectively leveraged its abundance of natural resources and harnessed the strength of its 193m-strong population to become a key nation both on the African continent and beyond.
In January 2017 Nestlé, the world’s largest food and beverage company, announced a shift in its strategy for Africa. “The bedrock of our business is really where the bulk of the population resides,” John Martin Miller, the company’s senior vice-president for Africa, Asia and Oceania, told international media in Lagos. “For the next five to 10...
Given Nigeria’s demographics, the country’s retail sector holds significant potential. However, in line with many other African economies, formal retailing remains nascent and accounts for just 5% of all shopping. With 180m consumers in the country, there is ample room for growth, but navigating domestic hurdles has proven difficult. Currency...
Given Nigeria’s demographics, the country’s retail sector holds significant potential. However, in line with many other African economies, formal retailing remains nascent and accounts for just 5% of all shopping. With 189m consumers in the country, there is ample room for growth, but navigating domestic hurdles has proven difficult. Currency depreciation and rising inflation, combined with a...
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