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Nigerian e-market swells with

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By Prince Osuagwu

Who would have believed that Nigeria could grow this far? Just type on your computer browser and your desired good and services could be delivered at the comfort of your home. That is as far as Nigerian ecommerce ecosystem keeps growing on daily basis.

Yet, do you know that with over 167 million people living in Nigeria today, the current Internet penetration at approximately 30 per cent means that a lot of businesses online and more expected to come, would still perfectly compete, grow and survive?

That was the calculation of a Nigerian company,Morpheus Limited, promoters of the e-commerce platform, which sees them as the latest entrant in the burgeoning Nigerian online retail platform.
Explaining his business focus at a press parley last week, Managing Director of he company, Mr Emeka Mordi said that part of the growth statistics of the industry that attracted him into the business was that the growing middle class makes up more than 23 per cent of the population and therefore presents a golden opportunity for new entrants to create a safe and dynamic online retail service.

He described his platform as where business to business, B2B and retail commerce customers can access goods and services directly from the merchants at no additional costs.
He calls it a web-based, global marketplace where a variety of products could be bought and sold. The site, according to him, covers Nigeria and will eventually expand to other African countries in the near future.

Already is partnering over 108 merchants stocking everything from electronics, books, to fashion and health care, which the company intends to meet the needs of its rapidly growing customer base.
To secure customers Mordi said his company is using the highest grade of encryption and highest grade of technologies to secure the platform.

”We are also working   with the banks and payment platforms to spot any fraudulent behaviors in order to bring internet fraudsters to book” Logistics: “Because we recognise that delivery is a key point of failure in this business, logistics will be handled by top of the line haulage and logistics partners. For instance, we are partners to DHL

Express among others and also supplement their services with our own in-house logistics company, Thanet Deliveries.
”Besides, we are backed up by sound insurance policy. so even if the goods are stollen or damaged, the customer is not going to lose his money” he added.


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