Massilia Motors becomes Sole Distributor Of Mitsubishi Vehicles In Nigeria

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Massilia Motors becomes Sole Distributor Of Mitsubishi Vehicles In Nigeria
L-R: Deputy Managing Director of Kewalram Chanrai Group, Mr. Victor Eburajolo; Managing Director of Massilia Motors Limited, Mr. Thomas Pelletier; and Deputy Managing Director of Massilia Motors Limited, Mr. Kunle Jaiyesimi at a Press Conference to announce the coming together of CFAO Motors and Kewalram Chanrai Group to form Massilia Motors Limited as the sole distributor of Mitsubishi vehicles in Nigeria at an event held at Mitsubishi showroom, Victoria Island, Lagos

By Daniels Ekugo

Massilia Motors Limited has been appointed as the sole distributor of Mitsubishi vehicles in Nigeria, following the coming together of CFAO Motors and Kewalram Chanrai Group for this purpose.

Massilia Motors Ltd. will provide customers with Mitsubishi passenger cars, SUVs, pick-ups vans, spare parts and after-sales services across Nigeria. The head office located at 4A Ijora Causeway, Ijora Lagos is a major after-sales hub with a fully equipped workshop and qualified technicians.

The company’s vision is to become Nigeria’s leading automotive distributor with delivery of world class customer service. In addition, Massilia Motors Ltd. is set to ensure effective talent management that will result in motivated and customer oriented employees.

The modern flagship showroom of the company on Adeola Odeku Street, Victoria Island and the new Mitsubishi Motors website are steps taken to show the company’s commitment to revitalize the brand’s image in Nigeria.

Speaking at the event, the Managing Director of Massilia Motors, Mr Thomas Pelletier said: ”The Massilia advantage is that we do not only sell cars, we consider our customers as stakeholders and provide solutions tailored to their needs. From counselling on the best product for each use to establishing a maintenance plan, we follow the customer through the product life cycle to ensure good value and a longer life span”.

A complete range of Mitsubishi vehicles is now available with compact cars, sports utility vehicles and pick-up trucks with renowned models such as the Pajero or L200.

The Japanese car manufacturer, Mitsubishi Motors is known for the reliability and ruggedness of its products. With Massilia Motors Ltd, the brand aims to exceed customers’ expectations, thanks to skilled technicians trained according to the manufacturer’s requirements, the expansion of its authorized dealer network and provision of service centres nationwide.

About CFAO

CFAO is a front-ranking specialized distributor and preferred partner of major international brands, serving the high-potential equipment & services, healthcare and consumer goods markets in Africa and the French overseas territories.

The Group is active in 39 countries, including 34 African countries and 7 French Overseas Territories. It employed 12,370 people at end-2015.

In 2015, CFAO generated consolidated revenue of €3,435.7 million and recorded recurring operating income of €269.2 million.CFAO is a subsidiary of TTC (Japan).

(PMnewsNigeria)

SMART INSIGHTS TO SOCIAL MEDIA MARKETING

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SMART INSIGHTS TO SOCIAL MEDIA MARKETING
Social media is a term for internet enabled platforms where social actions or activities are carried. Such activities may include creating, sharing or exchanging information related to interests, careers, ideas etc. For instance, Twitter is a social site designed to let people share short messages or “updates” with others. Facebook, in contrast is a full-blown social networking site that allows for sharing updates, photos, joining events and a variety of other activities. Pinterest and Instagram are biased towards photo updates while newer sites like periscope and snapchat tend to work more for  people who love short video messaging.

Leveraging the power of content and social media marketing can help elevate your audience and customer base in a dramatic way. But getting started without any previous experience or insight could be challenging.

In order to succeed with social media marketing, it is important that you understand the fundamentals. This will help you build a lasting foundation for your brand to thrive.

Here are some important things you need to know when marketing on social media

LEARN TO LISTEN
Success with social media and content marketing requires more listening and less talking. Read your target audience’s online contents and join discussions to learn what’s important to them. Only then can you create content and spark conversations that add value rather than clutter to their lives.

Social media is about community building. Learn to create value for that community, that is how they will in turn pay attention to you. But first , you have to listen and understand what they really love talking about

ITS NOT ALWAYS ABOUT NUMBERS

It’s good to have thousands of followers on your social media networks but partaking in aggressive and spammy practices will surely hurt your brand. Growing REAL followers organically is a gradual process and one that is more consistent when you have a systematic approach to your contents.

Having a lot of followers does not necessarily set your brand apart as a thought leader or define it as the best in that industry. Having a clear brand definition and goals will get your brand farther as opposed to accumulating followers all over using questionable tactics.

PATIENCE ! PATIENCE ! PATIENCE !

It is very important to be patient especially when you are marketing on social media. Often times, it is difficult to get the right audience with the right  message at the right time but planning contents around the needs of your target audience will surely help you grow in time.

NEVER UNDESTIMATE THE POWER OF INFLUENCERS
Spend time finding the online influencers in your market who have quality audiences and are likely to be interested in your products, services and business. Connect with those people and work to build relationships with them.

If you get on their radar as an authoritative, interesting source of useful information, they might share your content with their own followers, which could put you and your business in front of a huge new audience.

NEVER FIGHT WITH A CUSTOMER

It’s always a great idea to transfer “old school” marketing principles to “new school” marketing. One of those principles is this: the customer is always right.

If one of your customers takes to social media to complain about the quality of your product or service, avoid getting into an argument. That’s because you can’t win.

Instead of arguing, take steps to make the customer happy. That’s Customer Service 101. Or, simply direct the conversation off of social media so that there is less visibility.

KNOW YOUR ANALYTICS

How many people did you reach on Facebook this week? How many tweet impressions did you generate this month?

If you can’t answer those questions, it’s because you’re not studying your analytics.

It’s important to review your analytics regularly because you’ll see what types of posts and tweets generate the most engagements. That way, you can focus on what’s successful in future social media campaigns.

BE READY TO EVOLVE AS SOCIAL MEDIA EVOLVES

Do you think you know all that there is to know about social media? Think again.

Even if you’ve “arrived” at the current state of social media right now, you can be sure that it will evolve with technology over the next year. Social media strategies that work today might not work in 2017.

That’s why it’s a good idea to always be learning about social media marketing best-practices on a regular basis. That way you can be better informed.

Do you need Social Media Marketing for your business? or want to get certified as a Search Media Marketer?, 

Contact us or Register for our Digital Marketing courses to acquire the requisite skills.

Kindly call us on +2348069766133  to join the next training session…

(theideapress)

Netflix boss predicts mobile operators will soon offer unlimited video

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Netflix boss predicts mobile operators will soon offer unlimited video

Netflix head Reed Hastings predicted Monday that mobile carriers will soon offer data plans that give users unlimited video streaming to meet the rising popularity of watching TV and movies on mobile devices.

“Ten to twenty years from now all the video you view is going to be on the Internet,” he said at the Mobile World Congress, the phone industry’s largest annual trade fair.

“I think screens today are really stunning, you can see all the depth right in front of you. The beautiful thing is you can watch it on the move.”

While watching video on mobile devices via Netflix and other streaming sites is growing, data caps imposed on plans by mobile operators act as a barrier to users wanting to watch a video on the go.

Carriers offer unlimited data caps but they are usually very expensive.

But Hastings said he believed mobile carriers will eventually create a two-tear system where video data is unlimited to meet the growing demand for watching TV series and movies on mobile devices.

“What we are going to see I think is a number of companies pioneering new ways of offering services to the consumers where it is unlimited video data but it is limited to say one megabit speed,” he said.

“So it is a slower speed but you get unlimited data on that and that turns out to be very efficient on network so an operator can offer unlimited viewing.”

Netflix started streaming TV in the United States nearly a decade ago and has now launched in almost every country.

It ended 2016 with nearly 94 million subscribers, adding five million outside the United States in the last three months of the year.

Nearly half — 47 percent — of Netflix users are now outside the United States, a proportion expected to increase as it adds more customers.

Mobile video traffic is forecast to grow by around 50 percent annually through 2022, to account for nearly three quarters of all mobile data traffic, according to a forecast by Sweden-based telecommunications operator Ericsson.

(guardian.ng)

MTN, Lumous target one million Nigerians with electricity solution

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MTN, Lumous target one million Nigerians with electricity solution

The mobile electricity solution is a unique innovation that combines the efficiency of the mobile revolution with reliable solar energy to provide modern electricity to Nigerians through an affordable pay-per-use functionality and simple installation.

Information and Communications Technology firm, MTN and Lumous Mobile Electricity Services have developed an innovation targeted at solving the electricity challenge of about one million residents of Nigeria this year.

The mobile electricity solution is a unique innovation that combines the efficiency of the mobile revolution with reliable solar energy to provide modern electricity to Nigerians through an affordable pay-per-use functionality and simple installation.

Speaking on the rationale behind the partnership, MTN Nigeria Chief Executive Officer, Ferdi Moolman, said the MTN and Lumos partnership was poised to scale clean and affordable, off-grid power across Nigeria.

“With the backing of OPIC and Power Africa, MTN and Lumous plan to bring electricity to over one million Nigerians this year. The solar technology of Lumous and the easy payment process with MTN airtime provides a seamless customer experience for Nigerians looking for modern clean electricity.

“We have always ensured that our subscribers constantly enjoy our innovative products and services, as we continue to engage them at their passion points with life-enriching experiences. Now everyone can enjoy 24/7 access to noise-free, fume-free reliable electricity, every day for as low as NGN150 per day”. We believe that this solution will help to improve the lives of our subscribers especially because it empowers them to do more for less with electricity at their convenience and pace”

To the CEO and Co-Founder, Lumous Global, Davidi Vortman, the firm is excited about this major milestone, which will accelerate growth in Nigeria and improve the lives of millions.

Vortman said: “Having the backing of institutions such as OPIC and Power Africa provides a vote of confidence in our plans and helps spread our service across Nigeria”

Explaining how the Lumous Mobile Electricity Service powered by MTN works, CEO at Lumous Nigeria, Yuri Tsitrinbaum said, “This electricity is generated by home-size solar power systems installed in our customers’ homes and\or businesses. It comes in a new type of solar panel and indoor unit that allows customers to purchase electricity as a service on demand using their MTN mobile phone. Upon deployment, the subscriber loads airtime onto the SIM (embedded on the system) to activate the platform and enjoys uninterrupted power supply”.

The MTN-Lumous solar solution uses a large solar panel linked to an indoor storage unit that allows customers to access significant amounts of power on demand day or night. The service is provided on a lease to own basis and the cost is spread over a five year term, payable in affordable instalments via mobile phone from an MTN account. Customers receive a full product repair service during the lease period providing peace of mind and quality assurance.

Existing users include small businesses, residential users, small businesses schools, healthcare facilities, community buildings among others.

(guardian.ng)

Dangote Tomato signs deal with farmers in Sokoto, Gombe

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Dangote Tomato signs deal with farmers in Sokoto, Gombe

The Dangote Tomato Processing Company, Kadawa, Kano state has concluded arrangement to purchase fresh tomatoes from farmers in Gombe and Sokoto States.

The company had already signed an agreement with Tomato Growers Association for the procurement of the commodity from the two states.

The Managing Director of the company, Alhaji Abdulkarim Kaita, said on Tuesday that the company found it necessary to go into the agreement following the non-availability of the commodity in Kano and other neighbouring states that produced it in large commercial quantities.

He noted that the CBN anchor borrower programme had adversely affected tomato the production this irrigation season, especially in Kano State where many farmers shifted to wheat and rice production.

He said, “The wheat and rice loans given to farmers this year have affected tomato production in the state.

“This is the reason why the product is still costly as a big basket which was between N400 and N500 last year, is now N3, 000 in the market.

“So we cannot buy it at the present price.

“When the price was between N400 and N500, we used to buy from farmers at N1, 200 per basket.”

He said that the company would continue to monitor the situation until it was satisfied that the commodity was available to enable the factory resume production.

“If we resume production now, the commodity will be scarce and once it is scarce, the price will go up. This is what we don’t want for now,’’ he said.

On why the company did not give farmers loan to produce the commodity as it did in the past, Kaita said that out of the 100 farmers that benefited from the loan, only 20 of them were able to repay the facility.

He said, “So we cannot give them another loan now since most of them have yet to repay the earlier loan they enjoyed.”

He said that as soon as the commodity was available for processing, the factory would resume normal production.

He said, “We are ready to resume production because all our machines are in good condition and ready for operation.”

(punchng)

How Telecom Investments Is Driving Nigeria’s e-Commerce Growth

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How Telecom Investments Is Driving Nigeria’s e-Commerce Growth

Nigeria’s e-commerce sector is escalating with thousands of websites offering consumers alternative choices. Instead of walking  down to mammy markets, shops, supermarket or shopping malls, consumers can in the comfort of their rooms use laptops or mobile handsets and make purchases from e-commerce sites with the goods delivered at their homes.

The surge in e-commerce in the past five years has made Nigerians to start making flight bookings, payment of utility bills, online shopping and other business transactions on the web. Today, online retailers are taking over from the traditional malls people are accustomed to.

Electronic retailers (e-retailers) tend to create a shopping experience for customers without having to visit the mall physically. Barely two years since indigenous online retailing started in Nigeria, names like Jumia, Konga, GTBank’s SME Marketplace Gloo, Jiji, Rytedeals, Mall for Africa and hundreds of others are gathering fame for their online retail efforts.

Helen Anatogu, chief executive officer of iDEA Hub said the digital economy in Nigeria continues to thrive mainly attributable to: the huge youth population that is creating and demanding online content, emergence of e-commerce platforms that facilitate the procurement of services, demand for data services over voice service due to the increasing lifestyle effect of global social media platforms like

She said , “Facebook, Twitter, WhatsApp, Instagram, Snapchat, etc., the Cashless policy by the Central Bank of Nigeria (CBN) as well as promotion of financial inclusion strategy by CBN and Bankers Committee, especially licensing of mobile money operators” has propelled the rise of e-commerce in the country.

According to research, globally, retail trade accounts for 27 per cent of the world’s Gross Domestic Product (GDP. The retail sector also employs 17 per cent of the global workforce, which is about 800 million people. In the United States alone, one in every 10 people works in the retail sector.

With over 80 million Nigerians living in metropolitan areas, creating huge opportunities for formal retail to thrive, e-commerce has become a major driver of economic growth, job creation and wealth generation globally while in Nigeria, it is creating great opportunities for existing and new investors to take advantage of.

Digital technology is driving the internet market place. Virtual transaction means that businesses can be transacted from the remote corners of our homes enabled by the internet. The growing number of smartphones and other advanced devices is increasing the use of data-intensive applications, particularly video streaming, on mobile networks. This is resulting in an explosion of data traffic, with volumes forecast to grow at a CAGR of 49 per cent over the next five years.

According to GSM Association, the mobile industry continues to drive innovation across the world, with its impact felt in both developed and developing markets. Mobile has allowed individuals, companies and governments to innovate in new and unexpected ways, with consumers across the globe showing a ready appetite to adopt new technologies.

In Nigeria, affordable smartphones running on mobile broadband networks are bringing many individuals their first computing devices and first experience of internet access. This has encouraged the development of new services, applications and use cases that have rarely been seen in more developed western markets.

According to telecom experts, mobile is playing a central role in delivering digital and financial inclusion. The Nigerian Communications Commission (NCC) recently said the telecom operators have brought in about $68 billion direct investment into the industry, with much of the investments coming from mobile network operators (MNOs).

Just last week, executive chairman, MTN Nigeria, Mr. Phutuma Nhleko, disclosed that MTN Nigeria has invested $16 billion into its Nigerian operation. This investment is key in spurring Nigeria’s e-commerce explosion. For instance, MTN Nigeria through its investment in infrastructure has enhanced digital inclusion in Nigeria.

Nigeria’s largest mobile network is investing in infrastructure rollouts, securing telecoms and cable broadcasting spectrum licences in Nigeria. It is also diversifying into digital financial services to restore investors’ confidence as well as eyeing new revenue stream for expansion, with plan to list part of MTN Nigeria shares on the Nigerian Stock Exchange (NSE).

MTN Nigeria is the largest music distributor in Africa and has investments in mobile money and Africa Internet Holdings (AIG). Last year, it rebranded AIG companies into Jumia’s ecosystem. Kaymu is now Jumia Market, Jovago, Hellofood, Vendito, Lamudi, Everjobs, Carmudi and AIGX are now known as Jumia Market, Jumia Travel, Jumia Foods, Jumia Deals, Jumia House, Jumia Jobs, Jumia Card and Jumia Services respectively.

MTN is aiming to transform into a financial technology (FinTech) operator through mobile money, e-insurance, e-commerce, cloud business, web services and last mile banking. It is also working on tapping into Nigeria’s $21 billion Diaspora remittance market. MTN has embarked on a process of housing new revenue streams, particularly digital services, outside the core business.

This will allow for more agility and greater flexibility to accelerate growth in these areas. New revenue streams are expected to increase their contribution to revenue over the next 12-18 months. In Nigeria, the mobile operator has acquired pay TV broadcasting licence, 4G LTE and digital financial services.

Tolu Akinluyi, communications, media and technology executive at Accenture Nigeria said,  “The Nigerian government must create an enabling environment to foster sustainable growth and development of the telecom sector. It must encourage the industry to promote, build, incubate and partner in the development and realization of IT innovation hubs.”

It is pertinent to emphasize the need for progressive regulatory environment that acknowledges the importance of ICT as a major contributor to GDP and a major alternative to oil revenue as well as need for proactive policy to fast tract the explosion of e-commerce and innovation in the country.

Cross-border E-commerce Considered a Growth Rocket for Sub Saharan Africa Retailers

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Cross-border E-commerce Considered a Growth Rocket for Sub Saharan Africa Retailers

Highlights

  • Cross-border online retail predicted to grow at twice the rate of domestic e-commerce (CAGR: 25%) until 2020
  • Retailers can grow 60% faster with a premium service offering

DHL Express, the world’s leading international express services provider, has published research highlighting the significant growth opportunity for retailers and manufacturers with an international online product offering. The report – The 21st Century Spice Trade: A Guide to the Cross-Border E-Commerce Opportunity – looks in detail at the markets and products that offer the highest growth potential, the motivations and preferences of customers making international online purchases and the success factors for online retailers that wish to expand overseas. It focuses in particular on the opportunity for premium products and service offerings, with higher basket values accounting for a significantly higher proportion of orders in cross-border transactions.

The report reveals that cross-border e-commerce offers aggregate growth rates not available in most other retail markets: cross-border retail volumes are predicted to increase at an annual average rate of 25% between 2015 and 2020 (from USD 300 Billion to USD 900 Billion) – twice the pace of domestic e-commerce growth. Online retailers are also boosting sales by 10-15% on average simply by extending their offering to international customers. An additional boost comes from including a premium service offering: retailers and manufacturers that incorporated a faster shipping option into their online stores grew 1.6 times faster on average than other players.

“Contrary to what many retailers think, cross-border shipping is actually simple and retailers in Sub Saharan Africa are perfectly positioned to take advantage of international opportunities. ‘Brand Africa’ is something that has increased exponentially in popularity in recent years and it’s time for retailers to remove the boundaries and open up their business to seamless international trade. Often, retailers choose not to promote their businesses internationally, and worse yet, will turn down international sales interests due to the misconception that it’s too difficult to manage and deliver,” says Hennie Heymans, CEO for DHL Express Sub Saharan Africa.

“Globally, our experience is that virtually every product category has the potential to upgrade to become premium, both by developing higher quality luxury editions and by offering superior levels of service quality to meet the demands of less price-sensitive customers. The opportunity to ‘go global’ and ‘go premium’ is available to retailers in all markets and our global door-to-door time definite network is well-positioned to support retailers looking to develop a premium service offering or directly reach new international markets without  the need to  invest in distribution or warehousing. In Sub Saharan Africa, the opportunity for Intra Africa trade should not be ignored. ‘Going global’ does not only mean trading outside of the African continent, Africa is home to one of the world’s fastest growing middle class, with an appetite for quality products and services. There are also a number of trade blocs in place to support Intra Africa trade growth and retailers should take advantage of this captive market.”

The report is based primarily on research and in-depth interviews conducted by a leading global management consultancy, as well as more than 1,800 responses to a proprietary exporter survey of retailers and manufacturers in six countries. It casts a light on the evolving face of e-commerce, with both supply and demand becoming more sophisticated Manufacturers are increasingly taking advantage of e-commerce to move to direct retail models – bypassing the ‘middleman’ and offering their products online to the end customer – and expect to grow 30% faster in cross-border e-commerce than other retailer groups. Customers in many markets are also becoming more discerning, citing product availability and trust, as well as attractive offers, as the motivating factors for shopping with overseas online retailers.

The main challenges highlighted by consumers to cross-border purchases relate to logistics, trust, price and customer experience. At the same time, online retailers can take a number of relatively easy steps to identify, cultivate and service demand from abroad. The report noted that the e-commerce trend has given birth to a new eco-system of facilitators and off-the-shelf solutions (such as payment providers and programs that localize a website’s check-out experience for the visitor), helping retailers to adapt their offering to the digital world and to transact with customers in foreign markets. Global logistics partners can provide support in identifying the right trade-off between centralized and local warehousing and fulfillment, while fast, reliable and flexible delivery options can be an important tool in turning speculative interest into long-term customer loyalty.

(Proshare)

Facebook’s Chief Product Officer in Nigeria To Speak at Social Media Week & Meet Local Entrepreneurs

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Facebook’s Chief Product Officer in Nigeria To Speak at Social Media Week & Meet Local Entrepreneurs

Chris Cox, Chief Product Officer at Facebook, is in Nigeria today, to speak at Social Media Week in Lagos about the future of media, and to meet with Nigerian entrepreneurs and content creators.

Nigeria is the first stop on a week-long trip to West Africa where Chris will visit Nigeria, Ghana and Senegal to learn about the challenges and opportunities people in the region face so that Facebook can better serve the region’s content creators, entrepreneurs and developers.

Inspiration for content creators at Social Media Week
During his talk at Social Media Week — the region’s premier new media and social media conference — Cox highlighted Nigeria’s status as a hub for innovation and creativity because of its fast-growing mobile technology sector and its vibrant film and music industries. He focused on how the world is moving to digital video, with formats such as virtual reality, live video broadcast and 360 video giving people new ways to tell their stories.

“Stories matter, whether it’s the stories of our lives or the story of Africa’s growth and ascendance” says Cox. “We want Nigeria’s storytellers — the musicians, the filmmakers, the novelists — to take their stories to the rest of the world. The explosion in mobile video and live video, gives people a new way to share their story and perspective with the globe – and this is happening on Facebook.”

Cox talked about how creators like Femi Kuti are using Facebook to bring fans into their lives and extend their presence beyond the stage and recorded media. He also discussed how innovators like Afrinolly – the creative hub where technology meets art — are using virtual reality and 360-degree video to create exciting and compelling new storytelling formats.

Building on Mark Zuckerberg’s 2016 visit
Chris Cox is the most senior Facebook executive to visit Nigeria since Mark Zuckerberg visited Lagos in September 2016. He arrived in Nigeria last night (26 February) and attended New Afrika Shrine to see Femi Kuti, one of his musical heroes. Femi’s hour long set was streamed via Facebook live to the world and Chris was honoured to be invited to play keyboards for one song.

“I’m looking forward to hearing more about how Nigerian creatives, developers and entrepreneurs are using mobile technology, video and Facebook platforms to create inspiring applications and services for their customers and communities,” says Cox. “The level of innovation we see in this market is amazing. As Africa’s most populous country, Nigeria is an important market for us.”

Facebook accepts local currency payments in Nigeria
When Mark Zuckerberg visited Nigeria, one of the requests he heard was for businesses to be able to pay for advertising and other services in Naira. In response, Facebook has started accepting locally issued Nigerian Naira cards from new advertisers for payments on its ads platform.

“With 8.6 million people in Nigeria using Facebook on mobile every day, Facebook is a great place for businesses to reach their customers” says Cox. “We’re listening to our community of partners, developers, advertisers and content creators to understand what we can build to best serve their needs.”

Starting on 8 March, Facebook will kick off Boost Your Business, a series of free training sessions designed to help thousands of Nigerian small business owners understand how to leverage digital platforms for growth. The sessions will be facilitated by trainers led by She Leads Africa in key cities including Lagos, Kaduna, Abuja, Port Harcourt and Ibadan.

(Proshare)

Here are 12 Malaysian Startups That Recently Got Funded

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Here are 12 Malaysian Startups That Recently Got Funded

A quick list of funded startups in Malaysia straight from BHIVE database.

The e27 database is a trove of information and we’d like to share what we find there with you. This week, we took a peek at the database and came up with this list of startups in Malaysia that received at least US$1M in their most recent round beginning January 2016. 

Round: Seed

Dah Makan | US$1.3M – A full-stack food delivery provider with a rotating menu of healthy international and local dishes. Funded by East Ventures, Asia Venture Group, and Grupara.

BookDoc | US$2M – An online platform connecting users with healthcare providers. Investor undisclosed.

RecomN | US$1M – A service provider discovery and recommendation tool for a wide range of service like sports coaches to construction crews. Funded by Gobi Partners.

Round: Series A

iPrice | US$4M – A search and comparison platform for various consumer goods like electronics, appliances, and apparel that also offers coupons and vouchers from various e-commerce sites. Funded by Asia Venture Group and Venturra Capital.

Althea Korea | US$3.4M – E-commerce platform for beauty products offering primarily Korean beauty products. Funded by 500 Startups and Cherubic Ventures.

Jirnexu | US$3M – A fintech startup building customer acquisition and lifecycle management solutions. Funded by DMP, Celebes Capital, NTT DoCoMo, and Nullabor

ServisHero | US$2.7M – A mobile platform that connects users with local service providers. Funded by Golden Gate Ventures

Carsome | US$2M – Car shopping portal connecting buyers to dealers. Funded by IMJ Investment Partners, IdeaRiverRun, and 500 Startups

Nuren Group | US$2M –  Content, community, and commerce platforms with websites targeting women users (wedding.com.my, motherhood.com.my, and nuren.sg). Funded by Gobi Partners.

The Lorry | US$1.5M – A Lorry, van, and 4×4 booking website offering professional house moving, furniture disposal, and office moving services. Funded by SPH Media Fund.

 Round: Series B

iflix | US$45M – Streaming and download platform for movies and TV shows. Funded by Catcha Group and PLDT.

Round: Venture

iCar Asia | US$13.2M – An online network focused on developing and operating leading automotive portals in Malaysia, Indonesia, and Thailand. Investors undisclosed.

Want more information on Asia’s startups? Check out BHIVE  startup database  (it has filters and everything!).

(Proshare)

Potato Farm and Processing in Nigeria – The Cros Agro Potato Farm

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Potato Farm and Processing in Nigeria – The Cros Agro Potato Farm

Cros Agro (a merger of Matankadi and Gadol) is the leading diversified agro-allied firm in Nigeria. Founded in 2001, the company has established its footprint as a player in Potato farming and processing business in West Africa and a leader in Sub-Saharan Africa.

Leading the way in the production of the Irish potato value chain, Cros Agro is investing in the critical enabling components that ensure long time sustainability of the industry. We belive that agriculture is a great industry that can attract the right talent, investment and professionalism.

Cros Agro currently owns a 700 hectares of Oil Palm Plantation, 500 hectares of Ginger farm, 1,200 hectares of Potato field and a 10 hectares ready for Processing facility in Gurara. ,In addition to 3.2k plus hectares Cros Agro has reached and agreement with Rosenqvists Food Technologies to supply its 5,000Kg an hour French Fries and Potato Flakes processing plnt- plant to be completed in December 2017 and commissioned for operation in April 2018.

Key Facts

  • The Largest indigenous potato farm in Nigeria with a landmass of 2,600hectares
  • The first Frozen French fries company in Nigeria and West Africa Subregion
  • Currently employing close to 60 farmers and additional 3k jobs once processing plant resumes in 2017
  • Supporting socio-economic development of rural Nigeria whilst improving on quality of life

Cros Agro Potato Action Plan
·         Produce high quality potato that could be consumed fresh in the form of mashed potatoes, potato pancakes, potato soup, potato salad to name a few.

  • Production of high quality seedlings to meet local and international needs for the purpose of re- planting.
    · Potato peels and other zero value wastes from potato processing are rich in starch which is used by other industries as biodegradable substitutes. They can also be converted to animal feeds.
  • Our heavy equipment will be leased out to farmers in need of such services at a specific fee.

    · Our Storage facilities will also provide storage to other users.

    Consumption: Nigeria

The Investment Case: Nigeria
Nigeria is the fourth biggest producer of potato in Sub-Saharan Africa with a production yield of about 843.000 tonnes per year. Because of an inadequate supply of good quality seeds, inadequate storage facilities, poor diseases and pest management the average yield ( 3.1 ton / hectare) in Nigeria is the lowest in Sub-Saharan Africa. The usage of modern agriculture technics and equipment will boost the productivity of the Nigerian potato value chain. There are proven practical technics that potato yields of 25 ton / hectare and more are possible to harvest on the Plateau area.

Potato Data: Nigeria

  • Total produced : Average 843,000 ton
  • Over 200,000 ton sold in major cities.
  • About 100,000 ton informally sold across Nigerian borders.
  • More than 40,000 ton import mainly from Europe
  • 40% of stored seed potatoes are lost within 3 month of storage

Potato Data: Africa

Potato Sales Price Dynamics: Nigeria

  • Sales prices of ware potatoes in Nigeria show significant fluctuations depending on market location and type of distribution channel (either retail or wholesale). This fact suggests that the market is not very competitive.

 

  • The graphic below shows the sales prices per kg of locally grown potatoes (Nicola variety) for the major cities in Nigeria and for the most important collection markets in Plateau State. Furthermore the figure highlights the sales price per kg of potatoes imported by Shoprite. All amounts represent a four month average comprising the period from Mai to August 2014. (courtesy a report by Sylvanus Mahannan Ayuba, Michael Kitsche with support of : Folarin Ranson Oguntolu (Potato Initative Africa)

EU- The 2011/2012 season
Processing prices are at very high levels because the spring drought has delayed the likely arrival of new crops suitable for processing. The April 2012 processing contract on the Eurex futures p g market temporarily rose above €200/tonne last week, an unprecedented level for the time of year.

Cros Agro goal is to;

  • Produce 432,000 tons per annum of high quality Potato in the first year of operation.
  • Supply enough potatoes to individual consumers, fast food restaurants, hotels and industries in Nigeria and other African countries,
  • Produce 43,800 tons of French Fries in the first year of operations,
  • Be the largest suppliers of high quality seedlings to other farmers.

The factory is expected to be fully operational within 12 months, with a total cost of $52M

  • Become a major player in the Agricultural/ Manufacturing Sector,
  • Create employment opportunity for almost 500 direct and over 10,000 indirect labour.
  • Generate additional revenue from the fees and interest from the facility granted.
  • Have the opportunity for converting debt to equity at a concessionary rate.
  • Have a great opportunity in investing in a highly viable venture.

We intend to achieve these objectives by

  • Production: Adopting internationally best mechanized Agricultural standards for cultivating our acquired 700 hectares of land in Plateau State and 6,500 in Kaduna. This is expected to yield 432,000 tons per annum for two sessions.
  • Storage: With our existing 1000 tons capacity standard storage facility and the development of additional 12,000 tons capacity, all located in Jos. The issues of storage of potato are greatly being addressed.
  • Processing: We are proposing a 5000kg/hr capacity factory for the production of high quality French fries.

Objectives of our Investment Strategy

  • Revenue maximization: With our marketing strategies earlier defined, we intend to capture 75% of the existing French fries market in the Nigerian fast food industry. This amount to about N12b per annum.
  • Profit maximization: the company’s measure of efficiency, success and sustainability to a large extent depends on the level of profitability.
  • Wealth maximization: We will create value for our shareholders/investors. This will be achieved by ensuring that all capital investment to be embarked on generate a positive internal rate of return (IRR).
  • Guaranteed stakeholders welfare: As a socially responsible corporate entity, we will strive to ensure all stakeholders interest are protected.

What You Need to Know About French Fries and Flakes Business in Nigeria

  • The local market consumption of French fries from fast food restaurant is put at over 40tons every normal weekend. However, during vacations, holidays, weekends and summer season, this number triples.
  • French fries are one famous snack enjoyed by many people in Nigeria. French fries are deep fried slices of potatoes which are served hot or often consumed as snacks. Potato flakes are becoming alternatives to staples like Gari and Pounded Yam
  • French fries are mostly served in fast food restaurants in Nigeria. The fast food sector in Nigeria contributes annual revenue of over N200billion to the economy. French fries have approximately 8% shares in fast food industry.
  • French fries market in Nigeria is national, with a population of about 170m people, with a predicted national population growth rate of 5.7% per annum, the French fries market in Nigeria is enormous

  • Produce 40,000 tons per annum of high quality Potato in the first year of operation.
  • Supply enough potatoes to individual consumers, fast food restaurants, hotels and industries in Nigeria and other African countries,
  • Produce 43,800 tons of French Fries in the first year of operations,
  • Be the largest suppliers of high quality seedlings to other farmers.

IRR derived by Cros Agro is estimated at 148%.

Facts & Figures 

Total estimated cost of entire project                                                                 $50+Millions

Total Capital costs for Processing Plant (French Fries and Flakes)              $35+millions

Debt to equity ratio is assumed at 70% debt and 30% equity

Average yearly cumulative turnover                                                                   $80+millions

Post Asset Portfolio cumulative valuation                                                        $110+millions

Required Debt for processsing plants and operations                                      $35+millions

Cros Agro Farm…  

  • Production: Adopting internationally best mechanized Agricultural standards for cultivating our acquired 2,500 hectares of land in Plateau State and 2,000 plus hectares in Kaduna. This is expected to yield 432,000 tons per annum for two sessions.
  • Storage: With our existing 1000 tons capacity standard storage facility and the development of additional 12,000 tons capacity, all located in Jos. The issues of storage of potato are greatly being addressed.
  • Processing: We are proposing a 5000kg/hr capacity factory for the production of high quality French fries.

Facts & Figures

Total investments required                                                                                  $50 + million

Total Debt required                                                                                                  $35 + million

Total Equity required                                                                                               $15 + million

Facts & Figures

Farm Estate Management                                                                                       4+

Total Asset value to the Group Post fund raise                                               $110+ Million

CROS AGRO Asset Management

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