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Nigerian SMEs save 50% development cost on U-Mall – Netplus Advisory

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Nigerian small and medium-scale enterprises save about 50% of development costs when they are on U-Mall, a platform developed by Netplus Advisory in partnership with United Bank for Africa (UBA).

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In an exclusive chat, Wole Faroun, Managing Director of Netplus Advisory said the platform was developed to provide comprehensive e-commerce solutions to Nigerian businesses.

“With the online channel becoming increasingly adopted by consumers in Nigeria, it has become a viable channel for business however most businesses are unable to effectively take advantage due to cost and technical know-how hence the need for a solution like U-Mall,” he said.

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In addition to saving costs in development, he said the turnaround time is also shorter as the platform is set up immediately.

“On timing, getting them setup is immediate – matter of minutes versus weeks/months it takes to setup an e-commerce website. On marketing spend the savings is around N100K per month for anyone really trying to be successful online. There are similar savings for logistics/order fulfillment/customer service. These are all taking care of on behalf of the merchant,” he said.

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He added that the number of businesses on the platform is increasing.

He said: “We got over 100 businesses in the first week of launch. It’s been increasing ever since – but because of KYC involved, it takes time for the actual site to be made available to customers. The bank needs to do verification of the businesses.”

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