Dealdey Shuts Down!!

And another one bites the dust!

I was looking for affordable hotels in Lagos and I decided to search via Dealdey. The site came up relatively blank..

At first, I though I had slow network. I was already cu*ssing out my ISP thinking the internet service was slow again when I observed that other websites were loading just fine.

I did a lil bit of digging and found out that Dealdey has shut down. Can I say I'm entirely surprised by the news? Well no!.

This is considering the fact that sister company, Konga was acquired by Leo Stan Ekeh's Yudala last year. Both Dealdey and Konga were founded by Sim Shagaya.

This news does not paint a bright picture for Nigeria's e-commerce industry. So many have shut down due to what they describe in summary as their high overhead costs and consumers partial mistrust of online shopping. Nigerians are still comfortable shopping at Oshodi.

This news is coming at a point when Nigeria is experiencing high rate of unemployment.So many people will be thrown into the labour market as a result of the shut down.

Here is hoping the others survive. In a bid to make money and win, can others look at the option of Partnership or Mergers?

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Good News for Nigerian Businesses!!..Britain to add Nigeria's Naira to List of Accepted Trade Currencies

Good news for Nigerian businessmen and women.....Britain just added the Naira to the list of pre approved currencies for conducting trade.

This moves makes it easy for transactions with Nigerian businesses denominated in the local currency to be conducted.

With this, the Naira becomes one of the three currencies from West Africa that can benefit for its programme of funding transactions that promote trade with Britain.

According to the British High Commissioner to Nigeria, Paul Arkwright, via a statement.........
“This is a clear indication of how much value the UK places on its relationship with Nigeria. It will provide a firm foundation for a significant increase in trade and investment between both countries." According to the the statement, the UK would provide up to 85 per cent of funding for projects containing a minimum of 20 per cent British content.
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