Africa’s leading e-commerce platform, Jumia, has published its first Africa e-commerce report, Jumia Africa e-Commerce Index 2021 with a Nigerian section, which leveraged data from the company’s platform to illustrate the importance of shopping online in a pandemic context.
The shift to everyday products during COVID-19, is part of a broader economic transformation led by the continent’s young, urban and tech savvy population.
The effects of the pandemic, combined with dedicated commercial and marketing efforts on the Jumia side, led to a shift in our product category mix with everyday product categories including Fashion, Beauty and FMCG categories accounting for c. 57% of GMV in 2020, up from 44% in 2019.
Jumia Nigeria CEO, Massimiliano Spalazzi said: “Since the COVID-19 outbreak, e-commerce has played an important role by supporting sellers, consumers and communities. Many businesses have joined Jumia to keep their business running and to grow. Consumers used Jumia for their daily needs and seeked convenience and competitive prices on the platform too.”
E-commerce played an important role during the pandemic by providing solutions for both businesses and the communities they serve. Jumia’s partnerships with various brands and organizations have enabled SMEs to connect with millions of consumers online.
According to the United Nations Conference on Trade and Development (UNCTAD), internet businesses in Africa, including e-commerce which sits at the heart of the digital economy, could add US $180 billion to the continent’s GDP by 2025. “COVID-19 led to a surge in the use of digital solutions, including e-commerce.
This was particularly demonstrated with domestic sales rather than cross border e-commerce. Food delivery, essentials, and pharmaceutical goods were among the top performing online shopping categories,” said Torbjorn Fredriksson, Head of E-commerce and Digital Economy, UNCTAD.
Lagos city leads the list of cities with the most volume of orders on the Jumia logistics Network in Nigeria. Jumia Nigeria has more than 11,000 sellers, having achieved gender parity with 51% of sellers on the platform as women. 81% of Nigerians shop online with their smartphones, with 19% access the online platform through desktops.
The Director-General of the National Information Technology Development Agency, Inuwa Kashifu Abdullahi said; “E-Commerce is critical to any digital economy because when you consume a service, you need to make a payment and you can only do that through e-commerce.”
Many consumers turned to JumiaPay, the payment platform for the first time during the pandemic, mainly for safety reasons and for the enhanced services on the app like bill payments.
The report was done in collaboration with UNCTAD, IFC, Mastercard and others partners, highlighting the impact of e-commerce on the African economy.
The full report is available here
HAVING A FIRSTBANK SALARY ACCOUNT CAN EASE YOUR MONEY PROBLEMS, FIND OUT HOW…
“There is always a lot to spend money on, and sometimes the bills can’t wait for the salary to be paid” Tope complained when his wife informed him that they had run out of cooking gas and had to refill.
He had just moved to a new location with his family and the bills seemed to be coming at such speed that he could hardly keep up.
Barely three weeks in the new apartment, the electricity bill had arrived. The new apartment was bigger than the last and their two double-seater cushions left too much space vacant in the seating room. They needed to get a couple more furniture to fill the space. His wife had not stopped reminding him of the car he promised to get, in order to ease mobility for the family.
Everyone has been a Tope at some point in time, and that is why everyone needs a financial partner like FirstBank, Nigeria’s premier and leading financial services brand. FirstBank offers a variety of loan products that can help you ease off pressure as you work towards meeting pressing and urgent needs, as well as medium term goals.
FirstAdvance is a digital product tailored for Salary Account holders, who have an urgent cash need and would want to access salary advance from the bank. If you have held a salary account with FirstBank for up to two months, you can access 50% of your monthly net salary and as much as half a million naira (N500,000).
A physical visit to the bank branch is not required as you can access it via the FirstMobile (FirstBank’s Mobile banking app) and USSD channels. To access the service via USSD, dial *894*11# from the phone number linked with your FirstBank account. This has proved to be the solution for many people while emergencies arise before pay day. There is no point in waiting for month end before you can take on those pressing financial obligations.
FirstCredit is another digital product designed to cater for the non-salaried individuals. All that is required is for your account to have been active and transacting in FirstBank for six months or more to access FirstCredit. It provides customers with quick and easy access to loans to fund urgent transactions. You do not need a smart phone or a physical visit to the bank to get this done as well. This credit facility can be accessed using a mobile phone and the USSD banking code, *894*11#. You can access as much as N300,000 to be repaid within 30 days.
No physical documentation or collateral is required, neither do you need a physical visit to the bank to access both loans. Imagine the confidence that comes with sorting out your bills within minutes and without having to wait till month end.
Salary accounts should do more than receiving your monthly pay from your employer. It should be instrumental in making your day-to-day living easier, and this is what having your salary account with FirstBank can achieve for you. You can get a Personal Loan Against Salary (PLAS) if you have a a longer-term project at hand or investments to make. It may be paying school fees for your kids, acquiring assets or renovating your properties, paying rent, taking professional examinations.
Customer who qualify can access Up to N50 million based on their net monthly income and rates are competitive, while offering long term and flexible repayments up to 48 months tenor.
Despite all these benefits and ease in access to loans, it literarily costs nothing to open a FirstBank Salary Account. Zero opening balance, Zero minimum daily operating balance, Zero account maintenance charge, plus you even get your first debit card issued for free.
Truly, it is always “YOU FIRST” from FirstBank.
UBA Group Dominates the 2021 Banker Awards, Wins ‘African Bank of the Year’
Breaks the Banker Magazine Record as it wins Best Bank in Nigeria and 12 of Its Subsidiaries Africa’s global bank, United Bank for Africa (UBA) Plc yet again, reaffirms its leadership position across Africa, as the bank has been globally recognised as the African Bank of the year 2021 by the Banker Magazine, a leading global finance news publication published by the Financial Times of London.
UBA’s solid financial performance, its excellent service delivery to customers and its continuous role of facilitating rapid economic growth across the African continent were some of the reasons that led to the bank being named best bank in 12 of its African subsidiaries and in Nigeria. UBA Nigeria Plc, UBA Benin, UBA Burkina Faso, UBA Cameroon, UBA Chad, UBA Congo Brazzaville, UBA Cote D’Ivoire, UBA Gabon, UBA Guinea, UBA Liberia, UBA Senegal, UBA Sierra Leone and UBA Zambia all came out top as the best banks in their respective countries.
This will not be a first for UBA. In 2020, six of its subsidiaries in Benin, Cote D’Ivoire, Chad, Liberia, Sierra Leone and Zambia were winners of the Best Bank award. This year, the UBA Group is breaking a record with its exceptional wins as African Bank of the Year and Bank of the year in 13 countries. The total 14 awards makes it the first time ever in the history of the almost 100 years of The banker, that any banking group will be clinching as many as 14 wins in a single year.
At the Virtual award ceremony which was held on December 1st 2021, the Middle East and Africa Editor for The Banker, John Everington, explained at the event that a rigorous and highly analytical process is made annually to reach the decision for each Bank of the Year award and the institution’s reputation for independence, authority and integrity is thoroughly applied to each submission.
“While several African banks impressed the judges this year, there was no doubt as to the worthiest recipient of the Bank of the Year for Africa – UBA Group – a clear winner across a wide range of criteria. UBA has performed impressively across its footprint with a strong financial performance across most of its markets,” Everington said.
UBA’s Group Managing Director/Chief Executive Officer, Kennedy Uzoka, who expressed delight over the recognition from The Banker stated “Like I always say, at UBA, we must be doing something right. Winning 14 total awards in13 subsidiaries and the Bank of the Year on the African continent is a big achievement.’
Continuing, Uzoka said, “The recognitions come as a reassurance that we are on track in consolidating our leadership position in Africa, as we continue to create superior value for all our stakeholders. We have our millions of customers across the globe and our many thousands of staff to thank for this. They are the very reason why we keep winning’
Since1926, the Bank of the Year awards has been celebrating the best of global banking and is regarded as the industry standard for banking excellence. The 2021 edition highlights those institutions that have outshone their peers in terms of performance, strategic initiatives and response to the Covid-19 pandemic.
The Banker Magazine is a publication of the Financial Times – a leading global finance news publication which has been in existence since 1888. The Banker magazine is the definitive reference in international banking for high level decision makers.
United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty-five 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
FIRSTBANK HOLDS NON-OIL EXPORT WEBINAR SERIES, CREATES AWARENESS OF THE BANK’S EXPORT SOLUTIONS.
FirstBank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced the convening of its non-oil export webinar series. The Event is centered on deliberating opportunities that will enhance the country’s expansion of its drive towards diversifying the national economy, thereby reducing the reliance of oil as a mainstay of the country’s revenue.
The first series of the virtual event is scheduled for 10am on Tuesday, 30th November 2021 via Zoom meeting. To register and be part of this transformational knowledge session, click on this link-https://www.
The event is themed “Building Sustainable Non-Oil Export in Nigeria; Harnessing Opportunities within the AfCFTA Treaty & Agro Commodities” and will have the attendance of Mr. Segun Awolowo MD/CEO, Nigerian Export Promotion Council (NEPC); Dr Biodun Adedipe, Founder and Chief Consultant of B. Adedipe Associates Limited (BAA Consult) amongst others, as guest speakers.
The webinar series aims to facilitate sustainable exports as well as guide participants on ways of navigating the hurdles and challenges of exports in Nigeria. The webinar will explore market and economic trends, unique export opportunities and potentials within the non-oil export industry across the geopolitical zones in the country.
The importance of exports in Nigeria remains a front burner conversation by individuals and organisations as it provides a means of increasing the markets for producers, and an opportunity to attract the much needed foreign exchange earnings to boost the national economy, which is critical to expanding its Gross Domestic Products.
Speaking on the event, the Group Head, Marketing & Corporate Communications, Folake Ani-Mumuney said: “in recent years, the country has witnessed increased activities by the government towards diversifying the economy, thereby boosting the export potentials of the country – beyond the contribution of crude oil – which has been the mainstay of the national economy for many decades.
Our forthcoming Non-oil Webinar series will expand discussions that are crucial to the growth of Nigeria’s export potentials as we unlock numerous opportunities that will promote the economic diversification drive of the government which is essential to the continued growth of the national economy, especially with the current business challenges posed by the pandemic.”
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