Pan African Financial Institution, United Bank for Africa (UBA) Plc has announced that 10 of its loyal customers will get a chance to win N1,000,000 each, in the ongoing UBA Savings Promo which is scheduled to hold on to May 7, 2021 at the bank’s corporate head office, in Lagos.
If there’s any industry that has witnessed tremendous growth, impact and success in recent years, it is the online food delivery sector. Thriving on technology and digitalization, online food service delivery is proving to be one of the best business ideas in recent times. With mergers and acquisitions, the global online food delivery market is estimated to reach $215 billion in 2024.
In Nigeria, what makes the sector enticing is the fact that there’s a huge market awaiting investors. Food is crucial for all, especially the working class in an ever busy environment like Lagos. And any service that can make it available without stress and hassle will be in good business. With an estimated population of 200 million, the Nigerian food segment is estimated to be yielding a revenue of about $33.7 billion. According to data by National Bureau of Statistics (NBS) Lagos residents spent N830 billion eating out in 2019.
This is coupled with the increasing adoption of smartphones which allows customers access services via mobile apps. According to a report by Allied Market Research, the global food delivery mobile app market is expected to hit $16.6 billion by 2023.
The investment of the likes of Jumia in food service delivery is helping to meet the yearnings of customers. Deploying Jumia logistics and technology infrastructure, the platform has been able to drive the reach of online food delivery in Nigeria. Jumia’s impact has further opened up for more investors, with the likes of Gokada and OyaNow feeding some segments of the market. The exploits of these players are shaping the supply chain and are growing the market for new entrants.
Being the market leader, Jumia is also contributing to the growth of the industry with innovative thinking and implementation. In 2020, Jumia launched the Nigeria Food Index Report which is the first of its kind in the segment. The report captured the growing popularity of fast food in Nigeria, and the positive impact as well as prospect for the Nigerian Agricultural sector. According to Jumia, the report will be a continuum as it will be released yearly.
Boost for local restaurants
More importantly, a marketplace like Jumia is having a positive impact on restaurants by giving them access to a wider audience. The platform is also enabling restaurants to stay ahead of their competitors. This was evident during the lockdown imposed by covid-19, when restaurants partnering with Jumia Food were able to sustain their businesses through the Jumia delivery network.
“Sales dropped drastically, companies shut down, and a lot of people lost their jobs. We’re grateful that Jumia kept their operation going; it was reassuring to customers, helped give them options for food at a very uncertain and difficult time, and for vendors like us, it was a huge help to still be able to keep sales going during that period. The sales we got through Jumia helped greatly in keeping our employees paid, and our operation running,” said Pop Singer and CEO, Sooyah Bistro, Bankole Wellington.
Interestingly, the Nigerian Food Index Report also revealed that local Nigerian cuisines lead the preference on Nigerians compared to continental dishes, with 64% of orders being placed for lunch.
In a bid to further drive the growth of online food and beverage delivery in the Nigerian market, Jumia Food expanded its food delivery service to five additional states in Nigeria. The new additions regarded as tier-2 cities on the Jumia Food map, are Minna, Benin City, Kaduna, Abeokuta, Kano, and Ilorin.
In 2020, Jumia also recorded a major service improvement in its existing footprints in Lagos, Port Harcourt, Abuja and Ibadan by increasing its speed of delivery, with an average delivery time as fast as 26 minutes in Port Harcourt, 27 minutes in Lagos, 28 minutes in Ibadan, and 30 minutes in Abuja.
It is an open secret that the food industry is very relevant to the Nigerian economy. With today’s covid-19 realities, the growing popularity of fast food, the crave for convenience, safety and value for money, has opened up opportunities for the food market in Nigeria. No doubt that the contribution of Jumia, the leading ecommerce platform in Nigeria and Africa is helping to explore the food segment of the Nigerian Agricultural sector which has the potential of huge contribution to the Nigerian economy.
By Adedoyin Giwa
Rural Resident Expresses Satisfaction On Jumia Service Delivery
At the current pace, there’s no denying the improved fortune of eCommerce in Africa. Even the most ardent doubters of eCommerce viability on the continent will accept that the online shopping business is gaining momentum on the continent, contrary to their forecast and expectations.
Major African markets like Nigeria and Kenya are improving their internet penetration while the number of mobile phone users is rising exponentially. This, in turn, is boosting the online market entrants in urban locations and gradually rubbing off on rural settlements.
As a result, the conversation around eCommerce in a major market like Nigeria has gravitated from doubts on feasibility and acceptance to quality of service delivery, customers expectations and satisfaction. With at least 87 e-commerce platforms in Nigeria, the online shopping community is increasing by the day with innovation and bespoke approaches to address the challenges of the market and meet customers expectations.
In the thick of this, some customers are already having a glimpse of what eCommerce offers at its peak, thanks to the effort of key market players. Iteshi Prince Izuchukwu, a businessman based in Rivers State said he likes shopping online because of the price slash. Based on his experience with several online shopping platforms, he was quick to acknowledge the extra effort of Africa’s market leader on its quality of service delivery. “Things I order include Television, Wristwatches and others. When I buy these items on Jumia, they deliver on time and in good condition,” he stated.
In today’s market where customers demand value for every penny spent, a well thought out packaging that meets the aesthetic taste of the customers can spell a huge impact on the eCommerce business. It can help reduce the volume and cost of return, foster customer loyalty and put the brand in the face of prospects. “I always feel happy when what I ordered is being delivered to me. And as a businessman, I want value for money which I can say I am getting on a platform like Jumia,” Izuchukwu said.
With continuous effort by eCommerce brands to meet customers’ quality, timely and packaging expectations in their service delivery, testimonials like this will go a long way in getting more people onboard the online shopping train.
10 Customers Set To Become Millionaires In UBA Savings Promo
This unique promo intends to appreciate loyal customers of the bank, who have stayed with the bank over the years, and will also offer fresh opportunities for potential and intending customers to join the growing number of UBA millionaires who have in the past benefitted from the ongoing Promo.
To qualify for the draws, new and existing customers of the bank are expected to save N10,000 monthly or N30,000 at once for 3 months; before each draw date. Savings account holders eligible for this draw include Target, Bumper, Next Gen, Savings, Teens & Kiddies).
Some past winners who cut across all regions of the country and have previously benefitted from the promo include; Nnadumije, Ebube Dawn; Onwochei Christiana Okwukwe; Eze Mathias Nnaji; Christian N Orie; Uka, Okwudiri; Okata Stephen Uche; Okafor Onyinye Esther; Nwanekezi Chimezie Jude; Ayomide V Yahaya and Olanegan, Oyetunde Keji.
Others are Emmanuel Onu Chidozie; Mohammed Fatima; Aminu, Mustapha; James Nanre; Pahinti Albert; Emmanuel O Adeniji; Jaki Movihinze Mercy; Saminu Muritala Mohammed; Ezeh Raphael Uballa; Uchenna Iheji. Already the winners have claimed their cash prizes and are currently spreading the news so others can take advantage of this once in a life time opportunity.
Speaking ahead of the forthcoming draw, UBA’s Head, Personal Banking, Ogechi Altraide, said that without a doubt, UBA’s passion for the growth and overall success of its customers cannot be overemphasized, adding that this has consistently been proven in numerous ways. She explained that the bank has consistently invested in cutting edge technology to improve its service delivery and its overall aim of delighting customers.
She said: “With customer-centric promos like the UBA Savings Promo, we have created an ever increasing list of millionaires who continue to join the UBA customer millionaire club. For this edition of the promo, we decided to pick the month of May, which is the month that workers are celebrated across the world for their efforts at contributing to the growth of the economy. We know that this promo will put lasting smiles on the faces of our customers and will also assure them that UBA truly values them,” Altraide said.
UBA’s Head, SME Banking, Sampson Aneke, spoke of UBA’s continuous commitment to give back to its customers especially during these challenging economic periods, where people need all the support they can get to make life more meaningful.
“With this in mind we decided to prioritise them in as we always do at UBA, by giving them plenty to cheer about and that is the reason for the Promo. I have been privileged to visit some of the customers who won in January, and we were more than fulfilled to see happiness and gratitude on the faces of the lucky ones when their cash prizes were presented to them. That feeling is special.
So I enjoin those who are yet to join the winning team, to do so. You never can tell, the next big millionaire could be you,” Aneke said.
United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty-one million customers, across over 1,000 business offices and customer touch points, in 20 African countries. With presence in the United States of America, the United Kingdom and France, UBA is connecting people and businesses across Africa through retail; commercial and corporate banking; innovative cross-border payments and remittances; trade finance and ancillary banking services.
Access Bank Takes Over Grobank In South Africa
Following the completion of all regulatory procedures, Grobank Limited has been officially renamed Access Bank South Africa Limited. The deal was finalised after Access Bank’s acquisition of controlling shares in the former Grobank Limited, South Africa.
With this new development, Access Bank South Africa Limited is positioned to deliver a robust banking operation that connects key African markets.
At an official closing ceremony in Sandton on Monday, top executives of the two banks were upbeat about new opportunities for clients, noting that the Bank will continue to support all its stakeholders, while opening doors to growth opportunities both in the short and long term.
CEO of Grobank, Bennie van Rooy said, “This is an extremely exciting day for the South African banking industry. Our corporate customers will now have increased access to trade finance, treasury, international payments and loans through the wider distribution network offered by Access Bank’s presence in the key trade corridors that connect Africa to the rest of the world.
“Banking with Access Bank South Africa means greater security as well as access to more products and services through a best-in-class digital platform, and a full retail banking suite will soon be on offer.”
Herbert Wigwe, GMD/CEO of Access Bank Plc, said: “Today’s ceremony in South Africa seals our commitment to delivering our strategic aspirations of becoming Africa’s Gateway to the World, in line with our vision to be the World’s Most Respected African Bank.
“We look forward to the many opportunities our collective experience and deep understanding of the African market brings to our valued clients, and the journey ahead being one of great promise for our institution and the continent.”
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