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Akin Alabi questions Jumia’s operating model, Jumia responded

The founder of NairaBET, @akinalabi, has condemned e-commerce company, Jumia, for having his business and marketing book listed for sale on their platform without seeking his permission.

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Akin Alabi

The founder of NairaBET, Akin Alabi, has condemned e-commerce company, Jumia, for having his marketing book listed for sale on their platform without seeking his permission.

Sighting the book,Small Business Big Money on Jumia’s website came as a shock to the entrepreneur, as there was no prior agreement with Jumia to sell his book on their online store.

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[READ ALSO: REVEALED: This is why Jumia didn’t list in Nigeria]

Small Business Big Money‘ was co-written by Jason Njoku, the founder of Iroko TV and was published by CreateSpace Independent Publishing Platform on September 30, 2017. The book went on to become a best seller for the House of Representative member.

Here’s the big deal: Alabi raised questions about Jumia’s business model, posting on his  Twitter page that only Roving Heights (Nigeria’s online book store) was authorised to resell the book.

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When a Jumia sales agent informed Alabi that a distributor could have listed the book on Jumia, he disagreed, stating that only Roving Heights gets his book in bulk.

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Also, there’s a disparity in the price of the book, as the unknown vendor slashed the price from N5000 to N2,850. The official market price is N5000 as revealed by checks on Roving Heights’ website.

Mastercard buys Jumia shares, Jumia get $56 million from Mastercard, Jumia NYSE IPO listing, MTN, Jumia Investors

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Is there another culprit? Nairametrics discovered that the book is also being sold on Konga without a vendor name or distributor to ascertain who listed it. Note that Roving Heights, Jumia, and Konga are all online stores. However, as the entrepreneur disclosed, only Roving Heights was permitted to resell the book. But he only condemned Jumia for selling his book without permission, thereby raising questions as to why Konga wasn’t also condemned for doing same.

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Konga selling Akin Alabi’s book

Jumia’s response to Alabi: The e-commerce company addressed the situation in Akin Alabi’s comment section, stating that, “Jumia serves as a platform where vendors display their products and customers purchase from.

“We are sorry to learn you are not pleased with the listing of your book on our platform. This has been forwarded to the appropriate unit to resolve as soon as possible. Please let us know if you have any other concern.

“Thank you for your patience and understanding. Please be informed that the book has been delisted from our platform. We are sorry for any inconvenience caused.”

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[READ ALSO: Jumia Travel Founder continues fight against alleged Nigerian detractors]

The grey area: The development raises concerns as to whether Jumia actually verifies the authenticity of products being sold by their third party merchants, prior to listing them on their platforms.

Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: fakoyejo.olalekan@nairametrics.com.

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Coronavirus

Sanwo-Olu gives incentives to businesses to prevent job loss

Babajide Sanwo-Olu noted that the state is Nigeria’s number one commercial centre and a massive job loss will not bode well for it’s economy

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Bond: Lagos to rAN100 billion for infrastructural development, COVID-19: Lagos asks civil servants to stay at home, No public buses between 7pm and 6am, Okada ban takes effect from May 4 – LASG, No public buses between 7pm and 6am, Okada ban takes effect from May 4 – LASG, Sanwo-Olu gives incentives to businesses to prevent job loss

Lagos state governor, Babajide Sanwo-Olu, has promised that any business that employs a large number of people will receive incentives from the state government in order to prevent massive job loss in the state.

He noted that Lagos state is Nigeria’s number one commercial center and heavy job losses will not bode well for the economy of the state, and the country.

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“We are having conversations with different sectors on the requirements they need to ensure they do not retrench their staff. What many of the companies want will affect the State’s IGR but we are willing to make the sacrifice to prevent the loss of livelihood of our citizens,” the governor stated.

The phased reopening of the economy

The governor explained in his tweet that all businesses were still required to follow the Register-to-open initiative, and put all facilities in place before they would be allowed to reopen.

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(READ MORE: COVID-19: Best and worst case scenarios for the Nigerian economy)

According to him, the state will consider companies in the construction and manufacturing sector as top priority in the first stage of the reopening, while businesses in the entertainment and hospitality sector will be considered for reopening in the second phase, as the state tries to balance economic reactivation with COVID-19 management.

“We are caught between managing hunger & sustaining an economy that is not only dependent on commercial activities in Lagos alone but also in other states.  

“We are at the stage where we have to balance public health safety & the economy that affects the wellbeing of the people” Sanwo-Olu stated. 

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He urged Lagosians to support the government in breaking the cycle of transmission, by adhering to the guidelines from the authorities.

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Around the World

Air Peace to evacuate stranded Indians from Lagos to Kerala

A list of the passengers to be attended to has already been given and the flight shall depart Lagos on May 30, 2020, to Cochin Airport, Kerala.

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Air Peace signs deal with Brazillian aerospace company , Air Peace suspends flight operations over COVID-19

The management of Air Peace Nigeria has been contacted by the Indian High Commission in Nigeria to undertake the evacuation of stranded Indian nationals to Kerala, India. This was disclosed by the airline via its Twitter handle.

The airline explained that a list of passengers that would be attended to have been released and it has started reaching out to the Indians on Saturday.

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It stated, “A list of the passengers to be attended to has already been given to us and we have commenced reaching out to them. The flight shall depart Lagos on May 30, 2020, to Cochin Airport, Kerala.”

The flight is not free anyway. According to the airline, payments are expected immediately and they are Economy is $1.300 and Business class is tag $1,700. “You are equally allowed to pay in Naira at N460/$,” it added.

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However, some Indians in Nigeria has reacted with mixed feelings to the development on Twitter. While some were ready to join the flight back home, others called for the refund of ticket fare booked a week ago.

READ ALSO: Hope rises as Emefiele set to meet MTN, 4 banks today.

For instance, Jayant Khamesra requested for the refund ticket fare of N568, 100, which he paid for a flight from Lagos to Delhi.

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He said, “Please refund ticket fare P47812 LAGOS to DELHI. No show by Air Peace and it is been 1 week now, there has been no refund or confirmation of the same. Reference ALHN79 amount N568,100. I am sure a good world-class carrier like Air Peace won’t delay refunds purposely. Please act fast.

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Coronavirus

The World’s Economy may not survive without a vaccine

Industries like tourism and travel with social distancing rules in place will only scramble for the little they can get while sports stadiums, entertainment hot-spots, etc., will remain closed.

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The World’s Economy may not survive without a vaccine

As parts of the world restart economic activities, it is becoming clear that the worst plunge in modern history would need a vaccine or cure before things can revert to normal.

In response to the exogenous shock that is the Covid-19 pandemic, leaders, researchers, analysts, and experts have sought methods, options, – anything to reduce the negative impact of what many now regard as the worst slump since the 1930s. So far, different parts of the world have put systems and structures in place to allow a level of economic activity to continue as it became increasingly clear that full social welfare was simply unsustainable. This is, however, not without the existence of relevant restrictions like temperature checks, social distancing rules, and the latest fashion accessories – masks and gloves.

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READ ALSO: Nigerian economy going into recession, might contract by -8.9% – Finance Minister

While this is an admittedly better development than the enforced total lockdown – at least for the economy, this too has its limitations. Economic activities have taken on a sluggish growth pace and while production might continue, global demand remains hamstrung. Industries like tourism and travel with social distancing rules in place will only scramble for the little they can get. Sports stadiums, entertainment hot-spots, etc., will remain closed. Even with the increased dependence of delivery services, restaurants will struggle to make what they used to before. Jobs have been cut and even more will. In essence, the partial reopening of the economy isn’t also sustainable. Yet, it is impossible to ignore the virus itself especially given the risks of a resurgence of the virus in already treated patients and the increasing cases in many parts of the world.

Data obtained from Bloomberg revealed that people infected around the world reached 5 million with a death toll of over 330,000. With the pandemic still on our tails, finding a vaccine is our best bet – and nothing else might be able to beat that. Stephen Jen, CEO of Eurizon SLJ Capital – hedge fund and advisory firm in London told Bloomberg News that there’s some sort of bounty on the virus globally.

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READ MORE: Osinbajo sets up committee on reopening of Nigerian economy, suspends loan deductions for states

In his words, “I don’t see how it is wiser for investors to bet on the virus than to bet on science, technology, and unlimited political and financial capital in the world to contain and defeat the virus.”

Also, the shares of American drug maker based in Massachusetts, Moderna Inc., hit a record high early in the week, as a result of its early data from a small trial of the company’s Covid-19 vaccine. It, however, gave up some of those gains days after stock traders scrutinized the early nature of the vaccine data.

Bloomberg Economics predicts that the restriction and shutdown of businesses triggered a plunge in economic activities of about 30% and their findings found that the first steps to relax controls will have a good impact on activity than later ones. Yet, our optimism is palpable. Anita Zaidi, Director of Vaccine Development and Surveillance at the Bill & Melinda Gates Foundation have advised that the process of creating an effective immunity could take years, and even then it will have to solve the issue of logistics that is making the vaccine readily available globally.

Today, the world waits in hope that this too passes like many of its predecessors. While it will indeed pass, there still is no saying how long it will take before life reverts to a new but sustainable normal.

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