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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

Online marketplace to promote locally manufactured goods to emerging new markets

Economy experts have pointed manufacturing as central to a sustainable economy in Africa, According to World Bank Economist Hinh Dinh: “It is the responsibility of African governments to bring foreign direct investment (FDI) to manufacturing to create jobs. The history of economic development is such that any country would need to start producing basic household goods. Over time they moved to higher value goods. No country in the world has developed without producing light manufacturing. And no country can skip it.”

The African Government diversifying its economy has been timely in a period like this. Growth in manufacturing has been rapid at a pace of almost 18% p.a accounting for 9% of GDP during 2013 compared 2.5% as thought prior to rebasing. In spite of improvements, the obvious difficulties facing manufacturing in Africa still looms around poor patronage has been a big issue with locally made products in Africa, During 2013, Africa imported US$240bn worth of manufactured goods compared to almost US$66bn worth of manufactured exports. the continent imported US$18.7trn worth of merchandise goods during 2013 compared to just US$6trn at the turn of the century.

What this tells us is the high patronage of imported goods as compared to locally produced ones. Of course people might argue poor quality as the reason for this preference, but that’s a misconception, which should be reduced in order to boost manufacturing in Africa. The need to get patronage for goods produced locally birthed the cokodeal.com an online marketplace for manufacturers and exporters in Africa. To connect locally produced goods to emerging markets and get more customers, thereby promoting Africa’s local content. Trade would play a big part for the transformation for the African manufacturing sect.

According to the CEO of cokodeal.com, Mr Mike Dola expressed success stories of gaining new markets for local manufacturers, hereby increasing demand for businesses on cokodeal.com platform, which serves as the hub for local manufacturers in Africa to display their products thereby meeting more customers within and outside Africa. With free trade zone and government policy in support of trade in African region, there is a need for seamless intra-Africa trade that cokodeal.com aims to bridge. Africa is rich in raw materials and resources necessary for manufacturing, also blessed with tremendous human resources who are ready to work. When these manufacturers produce, they need to make sales, they need patronage, and with platforms like cokodeal.com, local manufacturers have the right tool to connect to new markets.

Cokodeal online marketplace is built such that it promotes Africa’s local content globally. It has a multiplatform where one can promote locally produced goods across several countries within the platform. Manufacturers can easily create and manage their online store and it is very cost effective and easy to promote products across several cokodeal country platforms.

Whatever ever phase Africa is today is as a result of Africa realising it has to look within to maintain improvement and stability in its economy. Manufacturing should be key to this transformation, however, when these manufacturers are empowered, what happens to getting customers for their products, what happens to easy sourcing of these produce by business people and customers? These days people can be in the comfort of their rooms and place order online to be delivered to their doorstep, business practice is evolving, so should the approach of manufacturers in Africa.

By embracing technology, manufacturers can connect to new markets, which make it easier for businesses in different African countries to connect and trade. The business man can place orders, discuss shipment agreement and have products shipped to their country even without leaving his country. The world today is operating automated business process, and we have to be a part of it, to improve our trade activities and ultimately make sourcing local raw materials for manufacturing and export easy.

Cokodeal.com cuts business cost for SME’s

It is imperative to understand the role technology has forced on us all, as we transition from an analogue system of trade to digital, forcing out old methods and creating new ones we have to adapt with. It was published in the media recently; “Online shopping booms, states and businesses lose revenues”. This is as a result of a progressive shift in the way trade is carried out.

The electronic trade has got us familiar with new terms like e-shop, e-store, storefront and marketplace. These are terms that represent a virtual setup of ones store on the internet that can be open for trade 24hour with ease of access through mobile phones, apps and desktop using the internet.

In recent times we have seen development that e-companies like Dealdey has brought to the online industry by driving huge volumes of customers to sellers through a discount pricing system, which helps the seller to reach interested individuals with their product offering, saving cost of marketing for small businesses.

Also getting familiar with terms like affiliate, that is more common to sites like Konga and Jumia, they host thousands of small scale businesses that sell hundreds of goods through their platform, which helps to drive sales for the business owners. In the recent black Friday hosted by the platforms, sales generated by these platforms for business owner were in volumes that wouldn’t have been possible by the brick and mortar physical shops.

Furthermore, marketplace like cokodeal.com that helps manufacturers and exporters’ drive their growth to intra Africa trade, this saves huge advertising cost,  by creating market linkage to new emerging markets for manufacturers and local producers in Nigeria. Cokodeal.com has successfully helped manufacturers link with interested buyers out of the shores of Nigeria, making such businesses capable of more international trade.

As explained by an economist with the Kaduna state Ministry of Budget and planning, Mr Yusuf Auta, states that in spite of the risk associated with online shopping, government could still tap from its huge revenue potentials. For instance cokodeal.com partnerships with SMEs, exporters and government agencies in helping them to promote locally sourced goods to a global market has huge potential of driving revenues from other countries and boosting the economy of the nation.

In the turn of the table, business owners need not see online trading as a hindrance to their growth instead see it as a means to save marketing, advertising and staffing costs. As their business can now be accessed globally when registered on these platforms for free. To highlight some of the cost these means of trading saves such businesses; the technical requirement and cost to setup a website, the search engine optimisation that enables easy search of product through the internet, and the ease of communication between buyers and sellers securely has been covered.

All that is required of the business is to register for free and abide by the agreement policy of the platform, upload business and product details and then sales begin to roll in. This can be achieved in minutes and the opportunities for SME businesses are unending. It is obvious that innovation and creativity of the online space is taking over and the world is becoming a global village, therefore SME’s must see online market place as the next big space to tap into instead of seeing it as a threat. If businesses do not take advantage of the huge benefits now, they may be left behind.

appeared on Naija247news.com

http://naija247news.com/2015/12/cokodeal-com-cuts-business-cost-for-smes/

Investment: chances of obtaining BOI loans for business in Nigeria just got better!

For years business person in Nigeria, have bemoaned the slim chance of access to financial support from the government to run their business. Most SME’s have attributed their crippling growth and failure to lack of appropriate funding. This might be changing now because during this year’s IC-CUBE National youth conference, BOI announced their program to support SMEs growth in Nigeria. Here as some excerpts from the presentation:

“The SMEs represent about 90% of manufacturing/industrial sector in terms of number of enterprises in Nigeria. Small and medium enterprises are a very important part of the Nigerian economy as a study by the IFC show that approximately 96% of Nigerian businesses are SMEs (Oyelarin-Oyeyinka 2010). However, in spite of the fact that the SMEs constitute more than 90% of Nigerian businesses, their contribution to the rebased GDP of $510BN is at 45%. In a bid to address challenges hindering the growth of Small and Medium Enterprises (SMEs) , the Bank of Industry (BOI) has signed a service agreement to engage 122 Business Development Service Providers (BDSPs) to drive the SME sector in the country.”

“This is in fulfillment of BOI’s core mandate of providing long-term financial and business support services to large, medium and small projects, the Bank has decided to engage the services of Business Development Service Providers (BDSPs),”

With the business and financial advisory services to both current and prospective customers, BOI is set to make obtaining loans achievable. Improper documentation of loan applications have  been a huge part of the reasons why many applicants fail to get their applications granted.The services of the BDSPs is a way to curb that, so applicants can have better chance to be granted loans. judging from the fees for consulting these BDSPs, one can say this deal is not bad at all. Here are the several BDSPs centres across Nigeria and their costs based on the amount of loan you seek to apply for on the BOI official website.

For questions, drop a comment, we will be glad to help.

Welcome to Cokodeal blog!!!

Cokodeal blog is finally live!!!

It has been an intense but fulfilling journey getting cokodeal marketplace up and running. In essence it is a part of our belief and love for Africa. It all took longer than we thought it would take, as it is a platform designed from scratch codes since its inception in June 2013.

The company is a product of an ardent desire for an Africa that will be the convergent point of global trade and not a continent that is at the mercy of foreign aid. We think that there is urgent need to consciously expose African produced goods so as to change the world’s perception of Africa being a predominantly consumer market.

Cokodeal Limited, a UK – African multinational company is determined to help Africa take advantage of its large market through cokodeal.com: like alibaba.com in Asia. Cokodeal.com is Africa’s largest locally produced commodity export e-commerce site, with presence in Tanzania, Ghana, South Africa, Nigeria, Rwanda, Kenya and Zambia. The company provides an online marketplace where individuals and businesses can buy, import and export goods and services solely produced in Africa.

Cokodeal.com will help African manufacturers, farmers, textile industry, solid mineral miners/traders, SMEs and service provider to easily connect with prospective business partners outside Africa. It will also go a long way to promote intra Africa trade.

We want to thank friends, family and partners who supported cokodeal through their assistance with ideas, concepts, design, network, social sharing and just overall support. And of course thanks to the first customers in 2014 who had so much patience and understanding with the small bugs and hiccups of a new website, as we were working on it and continue to improve it.

To visitors, a big hearty “welcome”” and we hope you find what you want and need in our marketplace, we aim to offer you excellent services and ensure security protection to keep you happy at all times.

Cokodeal.com will contribute in no small measure to the promotion of the African local content which is imperative to the transition of the continent from the third world to first world.

Looking forward to this journey and new adventures in the future.

Cheers.

Signed

Mike Dola

(Cokodeal.com CEO)