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The E-commerce market is growing rapidly with global players making major investments in different regions to establish their dominance. Amazon and Alibaba, the largest eCommerce companies in the world are heading towards a direct battle against each other. Both are the biggest E-commerce companies in their individual home grounds, but the similarities pretty much end there. Basically, they are different business models operating in very different economies, which we will dive into in the “The War for Ecommerce Domination- Alibaba vs Amazon” infographic below. The War for Ecommerce Domination- Alibaba vs Amazon Infographic Summary Amazon was founded as Cadabra by Jeff Bezos in 1994. It was later renamed Amazon in 1995, the online bookstore. Since then, they have grown into the largest online retailer in North America. The major portion of Amazon’s revenue comes from electronics and merchandise, media content streaming, distribution and logic support and cloud computing via Amazon W

Nigeria’s telecommunications company 9mobile has empowered 3,490 SMEs with its quarterly small and medium scale enterprise networking and empowerment forum tagged 9mobile market access. The 18th edition tagged ‘Access to Sustainable Market for SMEs Challenges and Opportunities’ held in Lagos, empowered several SMEs according to a statement from the company.  The Director Enterprise, 9mobile, Plato Syrimis, said the forum has helped to create connection that would allow SMEs to interact and share insights and ideas to aid their development.  “At 9mobile Market Access, we create the connection that enables you to hit the ground running with the brilliant ideas and insights that are shared. 9mobile  recognizes the impact of SMEs towards enabling the growth of any economy and this is why we have remained consistent in offering our assistance and support to small and medium sized enterprises through our innovative platforms and services,” he said. Cull

The newly-established Development Bank of Nigeria (DBN) yesterday announced that it will lend N5 billion, long term money to over 20,000 Micro, Small and Medium Enterprises (MSMEs) in commencement of its first mandate – lending activities. According to the bank, the loan would be disbursed through three selected Participating Financial Institutions (PFI) including Fortis Microfinance Bank, LAPO Microfinance Bank and NPF Microfinance. Speaking at a press conference in Abuja, yesterday, the managing director, DBN, Mr. Tony Okpanachi, said the pricing of the loan is pragmatic and referenced to market rates. He also said, “DBN loan repayment tenure is flexible- up to 10 years with a moratorium period of up to 18 months and the pricing is pragmatic and reference to market rates.’’ DBN was licensed by Central Bank of Nigeria (CBN) in March this year as a wholesale development finance institution that will lend to banks for onward lending to MSMEs. Okpanachi also said “statistics show

Facebook on Wednesday constituted its Nigerian Small and Medium Enterprise (SME) Council, the first on the African Continent. During the inauguration in Lagos, Ms Abi Williams, Facebook’s SMB Sales Manager, EMEA, said that the council would be part of Facebook’s ongoing commitment to supporting SMB throughout Africa. Williams said that the council would bring together Facebook Africa’s SMEs team and Nigerian business owners from a range of industries in a partnership designed to provide better digital tools for business and customer growth. She said that the Nigerian SME Council was made up of 15 vibrant start-ups and established business owners from different sectors and locations across Nigeria. According to her, each business will bring its wealth of unique experience in understanding and embracing digital and mobile strategies. “The council will bring in experience on how to reach Nigerian customers, making them ideally positioned to offer Support to other companies who n

Diamond Bank Plc has  laid its Q3 2017 financial scorecard on the floor of the Nigerian Stock Exchange (NSE), displaying moderate growth in key financial parameters despite the lull trailing economic activity after the country exited recession. For the nine months business period, the Bank’s gross earnings jumped by 11 per cent year-on-year to N168.4 billion while profit before tax surged by 71 per cent to N6.7 billion.  Impairment charges shrunk by 16 per cent to N35.3 billion year-on-year, reflecting management’s prudent approach to loan underwriting.  Although operating costs rose by 16 per cent to N54.3 billion from N46.7 billion in the corresponding period last year; this increase, according to the Bank, is due to the huge investment in technology acquisition in line with the management’s strategic set goal to continue to lead the digital revolution in driving the development and delivery of world-class financial products and services in the sub-sector. Commenting about the r

Diamond Bank Plc has  laid its Q3 2017 financial scorecard on the floor of the Nigerian Stock Exchange (NSE), displaying moderate growth in key financial parameters despite the lull trailing economic activity after the country exited recession. For the nine months business period, the Bank’s gross earnings jumped by 11 per cent year-on-year to N168.4 billion while profit before tax surged by 71 per cent to N6.7 billion.  Impairment charges shrunk by 16 per cent to N35.3 billion year-on-year, reflecting management’s prudent approach to loan underwriting.  Although operating costs rose by 16 per cent to N54.3 billion from N46.7 billion in the corresponding period last year; this increase, according to the Bank, is due to the huge investment in technology acquisition in line with the management’s strategic set goal to continue to lead the digital revolution in driving the development and delivery of world-class financial products and services in the sub-sector. Commenting about the r

The Nigerian National Petroleum Corporation, NNPC, has received bids from 34 firms interested in providing security services to its various petroleum products depots and pump stations across the country. The Managing Director of the corporation’s midstream subsidiary in charge of pipelines, depots and other storage facilities, NPSC, Luke Anele, disclosed in Abuja at the official bids opening exercise to select firms to provide the security services, according to a statement by the NNPC spokesperson. Mr. Anele said the exercise was part of the corporation’s strategies to boost security around its depots and pump stations, to ensure steady supply and distribution of petroleum products across the country, particularly in the run up to the forthcoming yuletide season. Represented by the NPSC’s Executive Director in charge of Pipelines, Danladi Ahmed, the MD said the NPSC was desirous of engaging reputable and competent security firms to safeguard its critical assets to ensure unimped

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THE Minister of Finance, Mrs Kemi Adeosun, on Sunday, said the Federal Government had taken steps to reset the economy with a view to making it work for the benefits of the citizens. The minister, in an article with the title Positioning Nigeria for a prosperous future, said “The administration of President Muhammadu Buhari is laying the foundation for the kind of economic growth that makes a real impact in the lives of citizens.” Writing against the country’s recent exit from recession, Adeosun said, “Since the middle of 2014, when the price of crude oil fell dramatically, Nigeria’s finances became challenged. This is not hard to explain: we’ve historically depended on crude oil for as much as 70 per cent of government revenues, and 90 per cent of foreign exchange earnings. The outcome – pressure on government’s finances – was by…

The Mikano Product & Solution Division (MPSD), has none of its kind in the country. It was developed to Manufacture, Service and Maintain Generator-control/Customized Panels; uses prestigious brand names in electrical equipment such as ABB & Schneider Electric. MPSD Panels have become a leading name in the Nigerian market for 20 years due to: Large Stocking Facility, Short Delivery Period, Outstanding Technical Support, Wide Experience in Providing Optimized, Reliable & Efficient Solutions In order to provide the best in power and automation technologies, Mikano has partnered with international corporations such as SCHNEIDER Electric, ABB, and RAYCHEM from TE Connectivity for Medium/High Voltage products and power solutions; also with PHILIPS for fittings & lighting . The Division is the center for sales and technical support of all LV, MV and Lighting products manufactured by Multi national companies worldwide. We offer complete power solutions with global technolog

India is now the world's second largest smartphone market, behind China. That pushes the U.S. down to third spot for the first time. According to Canalys data, India shipped 40 million phones in the third quarter of this year, 23 percent higher than the same period in 2016. That momentum was responsible for propelling India past the U.S. China overtook the U.S. in 2011 to become the world's largest. Canalys analyst Rushabh Doshi said India has been working to improve its network coverage, and as more people get reliable 4G access, that's helped push demand for mobile devices too. India, the second most populous country in the world, with 1.3 billion people, is on track to have just under 300 million smartphone users in the country by year end. Xiaomi is having a spectacular year in India And perhaps unsurprisingly, the vendors winning India are premium Android makers with affordable models. Samsung and Xiaomi in particular, are neck-to-neck, with Xiaomi rocketing

India is now the world's second largest smartphone market, behind China. That pushes the U.S. down to third spot for the first time. According to Canalys data, India shipped 40 million phones in the third quarter of this year, 23 percent higher than the same period in 2016. That momentum was responsible for propelling India past the U.S. China overtook the U.S. in 2011 to become the world's largest. Canalys analyst Rushabh Doshi said India has been working to improve its network coverage, and as more people get reliable 4G access, that's helped push demand for mobile devices too. India, the second most populous country in the world, with 1.3 billion people, is on track to have just under 300 million smartphone users in the country by year end. Xiaomi is having a spectacular year in India And perhaps unsurprisingly, the vendors winning India are premium Android makers with affordable models. Samsung and Xiaomi in particular, are neck-to-neck, with Xiaomi rocketing

MarketMoni Loan is from the Federal Government of Nigeria to help with your trade or small business. The FG MarketMoni provide loans to market women and traders, artisans, enterprising youths and small scale farmers and Agric workers nationwide. MarketMoni offer loan from 10,000 to 100,000. 5% administrative fee (No other charges) 6-month loan tenure Two-week grace period Daily Collections FG MarketMoni Loan REQUIREMENTS: You must belong to a registered and accredited market association, cooperative or trade group. You must have a valid BVN. Your market association, cooperative or trade group must nominate you for a loan and must be willing to stand in as your guarantor. Your market association, cooperative or trade group must be registered with BOI. You must have a business location which will be verified by MarketMoni agents. MARKETMONI LOAN TERMS: 1. MarketMoni Loan Tenor is 6 Months. 2. Weekly repayment with a two week grace period. 3. Administrative Fee of 5% (N