FYI

YuuZoo advances to Nigeria

Singapore-based social e-commerce company YuuZoo has announced that it is expanding into Nigeria.

The announcement:

Singapore, 26 November 2014: Singapore-based YuuZoo Corporation(“YuuZoo” SGX: AFC), the world’s first third generation social e-commerce company has signed a ground-breaking deal with Etisalat, the fastest growing telecommunications network in Africa’s most populous country, Nigeria. The partnership, which targets Etisalat Nigeria’s more than 20 million customers, including thousands of SME’s, will bring YuuZoo’s unique social e-commerce model to a market where mobile commerce and mobile advertising is growing rapidly, where current annual e-commerce revenue is over US$500 million and has an annual potential of US$10 billion.[5]

Nigeria is Africa’s most populous country and Etisalat has during its 6 years of operations won a reputation as the most innovative, reliable and service-minded telco in the country. In 2013, it announced a 500 million investment programme to further boost quality and subscriber growth.

Some of Etisalat’s unique services include the Etisalat Football Community, offering fans breaking news, tips, stories, match highlights and all the goals as they are scored from all major football leagues across the world including the EPL, Serie A, Bundesliga, La Liga, etc. Etisalat is also the official partner in Nigeria for FC Barcelona, and the sponsor for Etisalat Prize for Literature and the Nigerian Idol.

Commenting on the partnership, Etisalat Nigeria CEO Matthew Willsher says, “Customer service is of utmost importance to us, and we use social media extensively. It has worked very well for us, and has contributed to our tremendous growth. YuuZoo’s unique social e-commerce model, which combines social networking, e-commerce and gaming under one single mobile-optimized and fully localized destination, adds a hugely attractive dimension to what we can offer the more than 170 million consumers in Africa’s largest market. YuuZoo’s social e-commerce model will create new opportunities for us— that the traditional social media model does not offer.”

Speaking on the partnership, Thomas Zilliacus, Chairman and CEO of YuuZoo remarked, “This is a very exciting project which opens up a completely new business segment, partnerships with mobile operators, for us. Etisalat is a very strong and highly admired brand in Nigeria. Nigeria is the largest market in Africa, with a population of over 170 million. Etisalat’s marketing is focused on the huge youth market where its growth has been very strong. The partnership with Etisalat adds a reach to an additional 20 million subscribers to our existing base of over 65 million in 164 countries. We will work closely with Etisalat and build the business quickly, and have therefore opened an office in Lagos. We see a huge potential in Africa and are very happy to start in Nigeria, the largest country in the region.”

Source: press release

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