Wole Faroun, managing director of Netplus Advisory, the company responsible for WebMallNG, Medenhanz and U-Mall has revealed that while it is possible to consolidate online malls in Nigeria, current online malls cannot come together to form a mega online mall.
In an exclusive interview, Faroun said the nation is too big for just one online mall.
He said: “I can’t say that we will have one online mall – the market is simply too big for that. It’s a growing market and as such more entrants will come into the space.”
He however revealed that market maturity would companies to merge in order to provide services that are robust.
“As the market matures, companies will merge to provide more robust solution with huge customer base. And I think that’s important for any growing market,” he said.
He said his company is working with financial institutions to release other innovative e-business solutions.