BoI, DAWN Commission Seek E-Commerce Growth

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The first South-West e-commerce summit and expo, put together by the Bank of Industry, in partnership with the Development Agenda for Western Nigeria Commission and Nustream Conference and Culture Centre, will hold in Ibadan between March 26 and 28, 2018.

At an event held at the headquarters of DAWN Commission in Cocoa House, Ibadan, BoI representative, Pacquedis Irabor, said the bank was in the partnership to expose young e-entrepreneurs and business owners to opportunities being offered by the bank to support the Small and Medium-scale Enterprises, particularly in the South-West region.

He said, “One of the major challenges SMEs face is the market, and this often threatens their business survival. It is one thing to provide the financing that they need to build their capital asset but another thing is the availability of the market; without the market your investment will not grow, so we have the optimism that the e-commerce summit will go a long way in providing the needed visibility for young entrepreneurs and the SMEs.”

The Acting Director-General, DAWN Commission, Seye Oyeleye, stressed the importance of the Internet and other useful online tools in e-commerce performance, adding that they eased the ways of doing modern business. He also commended the bank and other partners for the summit.

“It’s a growing industry with many opportunities, challenges and infrastructural needs. But it offers a glimpse into the future. The South-West region is very aware of the dynamics of the changing world of commerce and we have decided to be part of this lofty endeavour,” Oyeleye said.

“To further understand the financial requirements and opportunities available for e-entrepreneurs and those who are willing to participate in specific areas of the value chain, the conference will be an opportunity to further broaden their scope and deepen their understanding,” he added.

The DAWN Commission DG explained that the effort would focus on connecting people with human and technology resources as well as relevant products and services that are essential for the development of individuals, organisations and institutions.

The Founder, Nustream Conference and Culture Centre, Francis Madojenu, said at the event that ease of transaction, widening markets and reduced overheads were some of the advantages that e-commerce solution offered.

He however expressed concern that the South-West had yet to take full advantage of the benefits offered by e-commerce.

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