An extensive overview of 24 first- and second-tier cities in Cameroon, Kenya, Nigeria and South Africa in a recently published white paper reveals particularly dynamic growth shifting from the region’s mature consumer markets in South African metropolises to the urban areas in other Sub-Saharan countries.
The only major road through Lekki is clogged, even on a Saturday afternoon. The expressway through the swampy peninsula that expands the city of Lagos in an easterly direction is riddled with street hawkers peddling red grapes, shoe racks and phone chargers to the cars caught in the hold up.
Even though Nigeria is Africa’s largest economy, Lagos, its commercial capital, still has a disproportionately strong hold over all business sectors.
A few days ago, the Oba of Lagos threatened Igbo leaders. If they did not vote for his governorship candidate in Lagos, he said, they would be thrown into the lagoon. His entire speech was a flagrant performance of disregard.
Interswitch, a leading pan-African integrated payment company, has announced the launch of a new $10 million ‘ePayment Growth Fund’.
They both claim to be the largest ecommerce platform in Nigeria and Africa — even though they won’t make their sales figures publicly available so it could be made easier for those who are interested in comparing their services to do so.
Tomi Hodonu, General Manager of cheki.com.ng, gives us a behind the scenes look at this fast growing online market place that brings car buyers directly to sellers at just the click of a button.
Nigeria’s retail and wholesale trade industry has the potential to grow by 7.1% per year, and by 2030 could be the largest contributor to the country’s GDP, according to recent report by McKinsey Global Institute.
The Economist magazine recently published an article on Nigeria in which it described the government of President Goodluck Ebele Jonathan (“GEJ”) as “A clueless government”.