Cokodeal woos partners with AI-enabled export platform for wider reach

Cokodeal as featured on Vanguard News: https://www.vanguardngr.com/2020/09/cokodeal-woos-partners-with-ai-enabled-wider-reach

Cokodeal, a major player in Africa’s commodity market, has said it is positioning itself as the centre for commodity export for Africans, using Artificial Intelligence to connect and match real-time buyers across the world with African traders on the platform. Noting that there are so many opportunities to explore in the international trade space and Africa Continental Free Trade Area, AfCFTA, agreement, Cokodeal.com said it is providing options to interested investors to become partners and shareholders in the company.

This, it said in a statement by its Co-Founders, Mike Dola and Michael Olufemi, will lead to raising of funds and leveraging partners to access larger markets, a plan that is “open to private individuals, business partners and company associates.” According to Cokodeal, “This funding will help to develop a more robust technology infrastructure for the platform, align its vision and better deliver product efficiently, register 6,000 agents across Nigeria that will help generate real-time trade information and coordinate deals in their local communities.

“This will develop strong collaborations and partnerships with larger organisations locally and internationally, to run digital marketing campaigns globally to drive huge numbers of buyers for its businesses to do bigger and better deals. “A series-A funding is in the pipeline in an ongoing deal flow with venture capitalists.

This fund will allow the company to better compete in the global space, becoming a household name and trading partners across the world. “Investors and partners would have a great deal of advantage in joining early, as the company becomes very valuable and more attractive to larger investors.”

On the benefits of the partnership, Cokodeal noted that from fashion to agriculture, the continent has seen an emergence of entrepreneurs in recent years creating quality and bringing the best products into the market. “Although resources abound, inter-trade and intra-trade seems to still be quite limited in the continent. “The global market is interested in many of these locally-produced goods, but don’t know how to find and reach manufacturers.

“The local producers on their end really have no knowledge of the extent their products could reach and as such still remain in the same spot within weak economies for a long time, which leads to stunted growth.

“Cokodeal has found this sweet spot, taken advantage of the opportunity and is currently filling the gap. “With technology, we have been connecting commodity traders in Africa to the local and global market effectively, efficiently and quickly since we launched in 2013.”

Top 14 agricultural products you can invest into in Nigeria with export business statistics

Top 14 Agricultural Product Exports in Nigeria – (2016 Q3)

The National Bureau of Statistics publishes data on Nigeria’s Foreign Trade. The data is published on a quarterly basis and details the value of goods imported into Nigeria as well as those exported outside Nigeria.

This table outlines the top agricultural products exported out of Nigeria for the 3rd quarter of 2016.

How do I start exporting business, documentation, what to export and where to

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Exporting From Nigeria

The commonly asked question by intending exporters is what products can be exported from Nigeria. Before identifying exportable products. It is important that a beginner knows that export business involves a number of procedures and documentation to be taken before lunching out on the international platform. The procedures and documentation are:


Registration with Nigerian Export Promotion Council:

Procedures for Registration are as follows:

Organizations eligible for registration as exporters are:


  1. Limited Liability Company
  2. Co-operative Societies registered by State Ministry of Commerce and FCDA and
  • Government and Non-Government Organizations duly registered by Corporate Affairs Commission (CAC)


Intending exporter can buy Exporters Registration Form at the cost of N500.00. On completion, applicants are expected to pay N5,000.00 (Kindly confirm updated rate) processing fee and submit the form with the following documents:


  1. Photocopy of Company’s Certificate of Incorporation;
  2. Certifies True Copy of Memorandum and Articles of Association
  • Certified True Copy of Form CO7, in case of Limited Liability Company or a copy of the Law establishing the agency in case of Government Organisation.


Please note that the schedule officer is expected to sight the original copies of the above documents.


Exportable Products:-


The products that can be exported are numerous depending on the exporters’ areas of interest, finances at his or her disposal and then the availability of the product(s). However, one needs to know that there are products prohibited from exportation. These are:


  1. Timber (Rough or Sawn)
  2. Raw hides and skin including wet blue and all unfinished leather.
  • Maize
  1. Scrap Metal
  2. Unprocessed Rubber Latex and Rubber Lumps
  3. Artifacts and Antiquities
  • Wild life Classified as endangered species and their products, e.g. Crocodiles, Elephants, Lizard, Eagle, Monkey, Zebra, Lion, to mention a few.


Exportable products could be classified into five major categories including:


Agriculture Products e.g. Charcoal, Chilies (Dried) Cocoa Beans, Coffee, Gum Arabic, Sesame Seeds, Shear nuts, Shear Butter, Shrimps, Cassava, Cashew nuts

Export Destination: Europe


Processed foods e.g. Cassava flour, Yam flour, Ground Rice, Vegetable Oil

Export Destination: Cassava (Europe) African countries.


Solid Minerals e.g. Zinc Ore, Lead Ore, Copper, Calcium, Carbonate, Marble, Tantalite, Wolframite, Iron Ore, Gem Stones.

Export Destination: Europe and Asia


Manufactured Products e.g. Alcoholic beverages, Cosmetics and Soaps, Detergents, Chemicals, Cocoa Cake, Cocoa butter, Malt drinks, Insecticides, Electrical wires, Furniture Component.

Export Destination: Cocoa Cake & Cocoa butter (Europe) African Countries.


Handicrafts e.g. Talking Drums, Calabash Carvings, Wood Carvings, Beads, Pottery, Metals Carvings, Hand – Woven textiles, Raffia products.

Export Destination: Europe and U. S.


Documents Required when Exporting


Correct documentation, therefore, is the lubricant of international trade and its importance cannot be overemphasized. Incorrect documents cause delays at ports when clearing the goods through customs, resulting in extra costs, failure to meet delivery dates and, in some cases, seizure of such goods. Unfortunately, some exporters fail to realize the importance of correct documentation and thus develop bad reputation for their export business. In order to save extra costs and possible delays the point of import, the potential exporter should ensure that he is full acquainted with all aspects of the actual procedure involved in getting the goods from factory/farm gate to the consignee. It is therefore, important to know what documentation will be needed to get the goods out of the country of production and into the foreign market with the least possible delay and expense.

Exporting requires a lot of documentation, specifically, all exporters are expected to complete form NXP (Nigerian Export Proceeds) and pay the mandatory levy. Clean Certificate of Inspection is issued by the Federal Government appointed inspection Agent (Cobalt International Services Limited) as contained under the Nigerian Export Supervisory Scheme which requires that all exporters pay 0.5% of the FOB value of their exports.


Export document vary according to nature of product and destination. Below is a categorization of export documents:


Commercial Documents

  • Profoma Invoice
  • Commercial Invoices
  • Consular Invoice
  • Certified Invoice and
  • Parking list


Quality Documents

  • Certificate of Quality and Fumigation (FPIS)
  • Phyto-sanitary Certificate (PQSO)
  • NAFDAC Certificate of Quality
  • Certificate of Quality by (SON)
  • ISO Certificate


Transport Documents

  • Bill of Lading
  • Airway bill / Road way bill
  • National Maritime Authority Form E-3.2
  • Single Goods Declaration (SGD)


Tariffs Concession Documents

  • Form EUR 1
  • GSP Certificate
  • ECOWAS TLS Certificate of Origin and Movement Certificates
  • Commonwealth Stand Still Preference Certificate of Origin



Other Documents include:

Non oil export data form

Certificate of Origin

Certificate of Manufacture


Permit to export Solid Minerals from Federal Ministry of Mines and Steel Development.


What Constitutes Export Readiness?

Good Products

  • Market Driven Designs. Products that are consistent with the market taste
  • Can be adapted to buyers specs
  • Designs adapted to facilitate shipping
  • Presented in complete line, or families of products (important)
  • Consistent quality control
  • Solid construction
  • Made with quality materials
  • Competitive price research the market


Production Capacity

  • Able to produce in large quantities
  • Ability to grow as orders increase
  • Sufficient production staff
  • Appropriate tools for increased production



  • Working telephone, fax, mobile phone and email
  • Computer literacy
  • Printed materials

Brochures, pamphlets

  • Printed order forms, receipts, bills, etc
  • Print or digital photo catalog


Administration Systems


  • Easy to use accounting systems
  • Up to date record keeping system
  • Inventory and stock control
  • Order management calendars
  • Costing and pricing evaluation systems


Vision for Growth

  • The exporter must research markets and opportunities as well as constraints to come up with a viable vision. This should include specific steps to growth.


Export Incentives

The Federal Government through NEPC put in place the Export Expansion Grant Scheme (EEG) to boost export and ensure the competitiveness of made in Nigeria products in the international markets. Beneficiary of the scheme are paid in Negotiable Duty Credit Certificate (NDDC).


Applicable percentage grant is determined by set guidelines. The maximum percentage is 30 while the minimum is 15%.


Visit www.cokodeal.com to get international buyers and begin your export journey.

Support helpline/ whatsapp is 08163229560


Relevant Internet Sites on Exports.


The following internet sources provide credible trade leads:



intlTrade Network provides advertisements of exports and imports via the internet. Original trade advertisements are relayed world-wide by e-mail to subscribers.


ProTrade Forum home page is CompuServe’s special trade section for traders, importers and exporters.



Trade Match (SM) is an interactive medium and services for international traders to access potential buyers/sellers.



Trade Compass is an internet information system designed specifically for business and organizations engaged in international commerce.



The homepage of Trade Point USA, the site for UNCTAD’s (United Nations program of providing trade leads and trade backup for developing nations. Includes trade leads, market information and UN documents.



The Global Trade Point Development Centre is an initiative of the United Nations Trade Point Development Centre (UNTPDC) to provide standards, software and opportunities for trade lead dissemination particularly to small business in less developed nations.



To register as a supplier / exporter — follow this link —


Article credit:  Cokodeal contributor

For support:

Email: cokodeal@yahoo.com —- service@cokodeal.com —

Whatsapp +2348163229560

Cokodeal connecting Africa’s enterprises to $15 trillion international trade market.

By 2018, the African e-commerce market is projected to soar to US$ 50 billion from just US$ 8 billion in 2013 according to reports. To some these figures show gradually the growth of ecommerce in Africa. However there are those who feel Africa should be benefitting more. The huge some of ecommerce transactions and enterprises springing up in the past years have been focusing on serving local markets in Africa.


Perhaps it’s time to start thinking markets outside Africa. Put side by side Africa’s ecommerce projection for 2018 with estimation of over US$15 trillion for annual business-to-business transactions and well over US$1.2 trillion for annual business-to-consumer trade in the world according to UNCTAD, and you see the huge opportunities Africa is yet to tap into.


While a large number of developed countries keep benefitting from international trade, Africa is still lagging; According to eMarketeer (July 2014) the total international B2C trade from the entire Africa and Middle East region represented only about 2.2% of the world’s total in 2013.



How can Africa start picking up on international trade?

The invent of internet has made the world a global unit. With just a few clicks from wherever you are, one can access any country’s market. Gone are the days you have to travel thousands of miles to do business transactions. It has evolved the way we do business in the new age we’re in.

E-commerce perhaps is one of the very useful application areas of the internet. An ecommerce platform is specifically built for Business transactions to be carried out largely through the internet, they form a gateway through which buyers and sellers can connect and do business. A few example of such platforms in the world are Amazon, Ebay, and Alibaba.

Alibaba as a typical example, paved way for small manufacturers in China into global market. In 2013, they had 231 million active users, each of whom made an average 49 purchases a year, for more than 11 billion orders annually.

Ecommerce brings the unique opportunity to open access to international markets for small and medium-sized enterprises (SMEs) in Africa; for example a small farmer somewhere in Kano, Nigeria is not limited to only buyers in Nigeria alone; he can have buyers anywhere in the world.

It’s been 2013 ecommerce came to Africa, and very few initiatives are towards promoting Africa to the global market. On their own, efforts by Africa’s enterprises to access markets outside their shores have been the usual brick ’n’ mortar way. Over the years its been almost impossible for African enterprises to trade through platforms like Alibaba, amazon and Ebay as they have access restrictions.

As ecommerce continues to record some success in Africa, the application of ecommerce into cross-border trade is still very much untouched.

Of course the difficulties are there, but efforts should start showing- something like what this particular startup is doing in Africa-Connecting Africa trade, promoting locally made products in Africa and connecting Africa businesses to global markets.

A step like this can be very scary considering several factors impeding Africa ecommerce from growing but Cokodeal has dug in; the past four years, they’ve gained experience, growing network and making their business work. Helping local businesses in Africa connect with buyers within Africa, Europe, Asia, and USA through its online marketplace, broker service and digital marketing expertise.

The profits are huge and the early players stand the chance to reap huge, Africa has enough to offer a large market and these are the kind of developments we want to be seeing in ecommerce in Africa.

Platforms like cokodeal might not be there yet, but we get the idea; and with bit of support, just like China, Africa can be the next international trade hub through them.

marketplace platform provides SMEs advertising services and advisory

Launched in 2014, Cokodeal is a digital advertising platform for SMEs, allowing businesses to drive sales via its digital marketplace.

It offers small businesses marketing and increased visibility, and also offers business advisory services to guide an international commodity trader on fees, documentation and best practices.

Dola, who along with his co-founders has self-funded Cokodeal thus far, says the startup has no need for external funding and is determined to become a “unicorn” employing thousands of people by disrupting African trade.

“The SME digital advertisement and intra-Africa commodity trade to global market is a US$600 billion market. Cokodeal aims to be the company with the largest market share controlling commodity trade in Africa to global market,” he said.

The startup has made steady progress thus far, with over 1,000 merchants listed and over 4,000 users. Dola says Africa has millions of manufacturers and traders struggling to be found, as most have limited marketing budgets and little understanding of how to use digital media.

“Many foreign private ventures that want to invest or trade with African businesses do not have a trusted contact partner to deal with,” he said.

“Many African businesses do not have good trade knowledge to export their goods and receive funds from abroad.”

Cokodeal, which has already expanded to Tanzania, has established itself as the largest marketplace for “Made in Nigeria” goods. Dola says the size of the opportunity is “huge”.

“The amount of informal trade unrecorded by statistics is very large,” he said. “Uptake has been positive. We receive lots of enquiries from different countries within Africa and internationally for product sourcing information. We have also brokered many deals for businesses and created an easy medium for different unknown brands.”

Having already expanded outside of Nigeria, Cokodeal will be licensing to more African countries, such as Kenya, Ghana, South Africa, Rwanda and Angola, in early 2018, with an improved operating trade network. Dola is optimistic it will see a positive reaction in these new markets as well.

“Cokodeal is a fully designed multi-platform that allows localisation of the platform in each African country, the upload of products in local currencies, and is accessible in another country’s local currency,” he said.

Featured on disruptafrica.com

Nigerian digital advertising platform Cokodeal seeks “unicorn” status