Nigeria’s Ecommerce industry stands as the largest in Africa, currently valued at $13 billion annually, with projections indicating a potential surge to $75 billion by the next decade.
Despite these staggering figures, the contribution of this industry to the growth of Small and Medium Enterprises (SMEs) remains under-realized.
HoganHost, Nigeria’s leading web hosting firm, is stepping up to address this gap with a revamped marketing strategy aimed at encouraging SMEs to establish a robust online presence.
The online Ecommerce sector in Nigeria is dominated by major players like Jumia, Konga, and Jiji, leaving a significant portion of SMEs yet to tap into the vast opportunities offered by the digital landscape.
According to a report by SMEDAN, despite the presence of approximately 37 million MSMEs in Nigeria, only about 226,840 .ng domains have been registered to date, reflecting a mere 0.25% utilization of the internet for business growth among SMEs.
In a strategic shift, HoganHost founder and CEO, Joseph Effiok Hogan, sheds light on the company’s renewed focus on empowering small businesses through their digital transformation. Recognizing Nigeria’s immense market potential, Hogan emphasizes the need for increased online business activity in a market where less than 0.25% of small enterprises have an online presence. This pales in comparison to other developing countries, such as South Africa, Kenya, Ghana, India, and Brazil, where online domain penetration exceeds 18%.
Hogan points out the prevalent mindset among Nigerian small business owners, who often perceive online presence as exclusive to large firms and consider it an expensive endeavor. To counter these myths, HoganHost aims to educate SMEs about the affordability and numerous advantages of establishing an online presence.
Hogan underscores the potential for growth and job creation when SMEs venture into online markets. From local restaurants to law firms and fashion designers, the internet offers a platform for reaching a global audience. A well-designed website not only enhances credibility but also acts as a powerful tool for receiving valuable feedback, improving services, and expanding customer bases.
HoganHost recognizes Nigeria as predominantly a “do-it-for-me” (DIFM) market, in contrast to the US, where businesses often adopt do-it-yourself (DIY) solutions for website creation. Hogan highlights the importance of local web designers and developers in guiding SMEs through the process of establishing a strong online presence.
By organizing educational events across cities, HoganHost aims to train the next generation of web professionals. These professionals will play a crucial role in encouraging more businesses to embrace the online sphere, ultimately creating new jobs and fostering IT professionals in the country.
Hogan stresses the significance of making web services affordable for Nigerian businesses. HoganHost offers competitive pricing, starting at just ₦2,000/year for .ng domain registration and affordable web hosting packages from ₦250 per month.
As HoganHost spearheads initiatives to make web services more accessible and educates SMEs about the benefits of an online presence, the company aims to catalyze the growth of Nigeria’s digital landscape. In a world where over half of the country’s population is online, the opportunity for Nigerian small businesses to thrive in the digital era cannot be overlooked. HoganHost is leading the charge to empower SMEs and position them for success in the ever-expanding digital marketplace.