This is very related to the above point on Mobile payment and transactions. On 16th December 2013 German e-commerce incubator and cloning giant Rocket Internet, MTN, Africa’s largest cellphone operator and Stockholm-listed Millicom International Cellular partnered to develop internet e-commerce businesses in Africa through Africa Internet Holding (AIH), a vehicle to develop e-commerce businesses across the African continent (alongside partner Millicom International Cellular). They each took a 33.3% stake but the value was undisclosed. While still subject to regulatory approval, the parties expect the transaction to close during the second quarter of 2014. The implication for Nigeria? More transaction will be fulfilled online and there will be a radical change from the traditional brick and mortar shopping to shopping online as seen in developed countries. Businesses will have to respond by developing B2C and B2B enterprise architecture that will facilitate e-commerce. AIH has already developed a number of e-commerce ventures in the last 18 months, including Jumia, Zando, Kaymu, Jovago, Lamudi, Carmudi, EasyTaxi and Hellofood. The partnership is expected to capture the growth potential of the digital media space across footprints in the region.
Read the full article here: 10 Economic Highlights to look out for in Nigeria in 2014. Want to share you thoughts on the Nigerian Economy in 2014? You can drop your comment below or continue the discussion with on twitter Tweet to @seunoyeniran