African social marketplace, MOBOfree.com, today announced that it has recorded an increase of more than 44% in the number of registered users of MOBOfree.com in Nigeria over the past 12 months, resulting in a 1042% increase in the number of classifieds published on MOBOfree.com in Nigeria, which makes more than 500 000 active listings on platform in Nigeria only.
The record increases are not limited to Nigeria only, the number of registered users of MOBOfree.com in Uganda has also increased by more than 1555%, resulting in a 5548% increase in the number of classifieds published on MOBOfree.com in Uganda.
MOBOfree now has a total of 4 million registered users, including 2 million monthly active users in Nigeria and a strong footprint in Uganda and Zimbabwe.
Online trading is growing rapidly across Africa as the IT and mobile infrastructure across the continent continues improving. Despite that, part of our challenge still is convincing people of the value of using the internet to buy, sell or swap items and services -Cristobal Alonso, CEO and co-founder of MOBOfree
Nigeria’s e-commerce market is developing rapidly, with an estimated growth rate of 25% annually and a potential worth of $10 billion – with around 300,000 online orders currently being placed on a daily basis. A report released by McKinsey & Company indicated that e-commerce could account for 10 % of retail sales in Nigeria, Africa’s largest economies, by 2025.
The MOBOfree technological platform makes buying and selling online easy for any African user with any device, not only for PCs and smartphones but also for old phones with small screens (known as “feature” phones).
Nigerian startups raised $17.6m in Q1 2019, 8.5% higher than they did in Q1 2018. Find out more in the latest quarterly edition of the Nigerian Startup Funding Report here.
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