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Jumia, Konga to Struggle as Facebook Enters E-commerce Space

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e commerce
  • Jumia, Konga to Struggle as Facebook Enters E-commerce Space

Nigeria’s top e-commerce companies, Jumia, Konga, etc will henceforth have to adjust their strategies to survive Facebook entrance into the e-commerce space.

Mark Zuckerberg, the Chief Executive officer and co-founder, Facebook, last week announced that the social media giant will launch an e-commerce focus product that will allow Facebook, Instagram and Messenger users to post products for sale on their profiles, Stores or in Ads for free.

“It’s one simple and consistent experience across this family of apps, which means it is easier for people,” Zuckerberg said in a live stream on Facebook. “That of course means there’ll be higher conversions and more sales for small businesses.”

According to experts, the move could open up an additional $30 billion in revenue for Facebook as users are expected to pay a small fee/commission for using the company’s payment gateway.

However, Nigeria’s E-commerce platforms like Konga, Yudala, Jumia, etc will struggle to sustain or increase the number of merchants on their platforms given Facebook reach and presence in Nigeria.

In 2019, a video recorded by Juliani, a Kenyan gospel artist who visited Facebook’s head office, shows Facebook has 33 million monthly users in Nigeria and over 16 million daily users. Meaning, Facebook already has a potential market of 33 million users to offer its free product listing service.

Accordingly, Facebook has data of these potential users for an easy free campaign across key sectors, unlike Nigeria’s E-commerce platforms that need expensive aggressive campaign and registration to get customers on their platforms.

Also, with most Nigerian based e-commerce platforms yet to scale or still struggling with billions of dollars in debt, they do not have enough operating capital to compete with the likes of Facebook, Google that are leveraging on existing databases and reach to gain and sustain their growth in most industries.

Nigerian users on Facebook owned platforms (Instagram, WhatsApp, Messenger) with reasonable followers will now prefer to list their products on their profiles rather than starting anew on platforms that usually limits their sales to Nigeria.

For instance, Nigerian based tailors can now reach Nigerians in diaspora looking to buy Nigerian made designs without having to worry about limited or restricted payment gateway that over time has reduced them to just the Nigerian market.

Therefore, Nigerian e-commerce companies are likely to struggle with growth as many users are expected to abandon their platforms for a more affordable Facebook with global reach.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Technology

Nigeria, South Africa, Others Experience Millions of Cyber Attacks in 2020

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Kaspersky Lab

South Africa, Kenya and Nigeria Saw Millions of Cyber Attacks in 2020 and the Year is Not Over Yet

Kaspersky security solutions have reported 28 million malware attacks in 2020 and 102 million detections of potentially unwanted programs (pornware, adware etc.) they have accounted for by the beginning of August 2020. These numbers show that it’s not only the malware that attacks users but also the “grey zone” programs that grow in popularity and disturb their experiences, while users might not even know it is there.

Potentially unwanted applications (PUAs) are programs that are usually not considered to be malicious by themselves. However, they are generally influencing user experience in a negative way. For instance, adware fills user device with ads; aggressive monetising software propagates unrequested paid offers; downloaders may download even more various applications on the device, sometimes malicious ones. While calculating interim results of threat landscape activity in African countries, the researchers noticed that PUAs attack users almost four times more often than traditional malware. They also eventually reach more users: for instance, while in South Africa, the malware would attack 415,000 users in 7-months of 2020, the figure for PUA would be 736,000.

“The reason why ‘grey zone’ software is growing in popularity is that it is harder to notice at first and that if the program is detected, its creators won’t be considered to be cybercriminals. The problem with them is that users are not always aware they consented to the installation of such programs on their device and that in some cases, such programs are exploited or used as a disguise for malware downloads. This is why many security solutions, including ours, flags such programs to make sure users are aware of its presence, influence on their device and activity,” says Denis Parinov, a security researcher at Kaspersky.

By taking a closer look at PUA, it becomes apparent that they are not only more widespread but also more potent than traditional malware. Evaluating results over the same 7-month period in Nigeria, there were 3,8 million malware attacks and 16,8 million PUA detections – which is four times as much. Kenyan and South African threat landscapes have been more intense. In South Africa, there were almost 10 million malware attacks and a staggering 43 million PUA detections. Kenyan users faced even more malware attacks – around 14 million, and 41 million PUA appearances.

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Finance

Healthcare Startups Raised $111.4bn in Total Funding, a 34% Jump Year-on-Year

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Startups in the Healthcare Sector Raises $111.4bn in Funding

The coronavirus pandemic put enormous pressure on the healthcare industry, forcing pharmaceutical giants and institutions to roll out clinical trials for a COVID-19 vaccine at breakneck speed. But behind the COVID-19 outbreak as the main healthcare issue in 2020, large health systems and venture capital firms continued investing millions in startups whose products could bring critical healthcare delivery innovation.

According to data presented by Buy Shares, UK, the total amount of funds healthcare startups raised over time hit $111.4bn in September, a 34% jump year-on-year.

Total Funding Amount Surged by 162% in Three Years

In 2015, healthcare startups worldwide raised $5.4bn in funding rounds, with the cumulative value of investments reaching $24.4bn that year, revealed the CrunchBase data. During the next two years, this figure surged by more than 68%, reaching $45.5bn in the fourth quarter of 2017.

Statistics show that 2018 delivered a $19.2bn of investments into healthcare startups, while the cumulative funding value rose to $64.7bn. In 2019, the total value of raised funds jumped by $24.7bn to $89.4bn, the most significant increase year-on-year.

The Crunchbase data revealed the first quarter of 2020 delivered $7.1bn worth investments into healthcare startups, a 51% increase year-on-year. Between April and June, the cumulative value of funding rose to $103.7bn and continued growing. Statistics show the total funding amount healthcare startups raised over time surged by 162% in the last three years.

Analyzed by geography, North America represents the leading region with $72.4bn of investments in healthcare startups. The US companies raised more than 97% of that amount, with California and San Francisco as the leading hubs. Asian startups hit $25.5bn in total funding, ranking as the second-leading region globally. European healthcare startups follow with $12.8bn worth funding rounds.

Three Largest Funding Rounds in 2020 Worth Over $2bn

The CrunchBase data also revealed the three largest healthcare startup funding rounds this year hit over $2bn value.

Last month, JD Health, the healthcare unit of Chinese e-commerce giant JD.com, raised more than $830 million from Hillhouse Capital in Series B funding, the largest investment in 2020. The company announced it would use this capital to further strengthen its pharmacy supply chain capabilities and explore additional healthcare services opportunities in the broader healthcare sector.

In July, Seattle-based biotech startup Sana Biotechnology raised $700 million in initial financing that will be used to advance the company’s discovery and development programs that deliver engineered cells as a treatment for different types of diseases.

Statistics show that Lyell Immunopharma`s $493 million worth Series C funding round represents the third-largest healthcare startup investment in 2020. Last year, the San Francisco-based company joined forces with GlaxoSmithKline plc to develop new technologies to improve cell therapies for cancer patients.

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Technology

TECNO Never Disappoints – its latest CAMON 16 Premier Beats Competitors to lead the Industry

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Latest CAMON 16 Premier Beats Competitors to Lead the Industry

As smartphones are becoming increasingly integrated into our everyday lives, it is essential to choose one that fits your lifestyles and your needs. Every mobile phone brand is trying to stand out from the rest by upgrading their technology and introducing new functions; however, the best way to measure their value is through their performance side by side. Today, we have selected three android phones for comparison: the TECNO CAMON 16 Premier, Huawei Y9 (2019), and Samsung A41.

Mobile phone screen design

While the three phones consider the different needs of users, they differ quite a lot when it comes to design. TECNO focused on the user’s convenience and has shifted its fingerprint scanner to the side so that it will be easier to gain access to the phone. This was a good move on TECNO’s part as it was a concern when we tested Huawei’s Y9 (2019) that was rear-mounted. This stopped me from unlocking the phone accidentally every time my fingers brushed the scanner. The CAMON 16 Premier also opens faster and is extremely convenient to do so, so much so that it felt intuitive after a while. The unlocking time of CAMON 16 Premier is less than a second, and this is a marked improvement from even their own CAMON 15. This allows users to save time over minute actions, making the Samsung A41 and Huawei Y9 (2019) appear inferior. It seems that TECNO has done a lot of user research on this aspect, and the attention to detail made us feel very good about the CAMON 16 Premier.

In terms of screen size, which is a crucial consideration for users today, the TECNO CAMON 16 Premier takes the lead with its display with over 6.85” of high-resolution screen while 6.53FHD hole screen on Samsung A41 and 6.59”FHD notch on Huawei Y9 (2019). This is the real estate for users to watch their favorite TV shows or make video calls, users can enjoy greater visual details. The bigger screen is more comfortable to watch for extended periods, allowing users more considerable viewing time before getting tired. The CAMON 16 truly shines when users watch their favorite high-resolution videos. The widescreen works in perfect sync with the 90Hz ultra-clear resolution, so users do not have to strain their eyes to enjoy a high quality viewing experience.

Camera function – front and rear cameras

The camera qualities of a phone have become a clear determining factor for users when it comes to buying a phone. After much consideration, the TECNO CAMON 16 Premier once again stands out with their ultra-clear visuals that reflect what you see with your eyes. It boasts a 64MP ultra quad-camera while the Huawei Y9 (2019) only has a rear camera of 13MP. The Samsung A41 comes a little closer with a 48MP triple rear camera and a panorama function but still shy of the quality that CAMON 16 Premier can produce.

TECNO’s CAMON series has always been notable for its superior camera and photography capabilities. They put the user’s needs first and develop technology around that, bringing the user an unprecedented clear photography experience. Each camera lens has its mission and an outstanding feature, genuinely living up to their expectations that each picture could be a masterpiece. Based on the MTK flagship-level G90T core chip, the CAMON 16 Premier supports 64MP full-size output. As we understand, this is an industry-first, and not many phones can compete with this configuration. With five rear flashes, the user can get clear and bright photos regardless of the darkness of their environment.

Camera function – anti-shake function

Clear photos will always be a priority when shooting. TECNO CAMON 16 Premier uses the Super Hybrid Video Anti-Shake (Super HIS) to stabilize and has produced fantastic photography results. Another advantage is that it supports 960 frames of super slow-motion shooting, thus expanding the potential of video shooting exponentially. The CAMON 16 Premier’s 8Gb of RAM aslo helps tremendously in accelerating the video processing time.

It seems to us that the TECNO CAMON 16 Premier is not merely a phone but a professional camera integrated with many other easy-to-use phone functions. These functions ensure the users get the best photo quality everywhere, every time. It is impressive that TECNO managed to fit something of this quality into a mobile phone.

Battery life

Battery life is a significant feature that determines how long your phone can last while you complete your tasks. The TECNO CAMON 16 Premier has a 4500mAh battery and a quick charge of up to 70% in just 30 minutes. This is an upgrade compared to the smaller 4000mAh and 3500mAh capacity of Huawei Y9 (2019) and Samsung A41. Furthermore, the user’s safety is TECNO’s priority as CAMON 16 Premier comes with its newest safety features. TECNO has engineered the CAMON 16 to reduce overheating during fast-charge and lowered the surface temperature by two degrees. It does this while simultaneously offering two types of charging options as CAMON 16 Premier has managed to even add a Type-C fast charging capability inside its lithe frame.

This is complemented with another safety function that automatically shuts the phone down when the battery is fully charged. This is a breakthrough in the industry, TECNO has integrated into the CAMON 16 Premier to better protect the mobile phone and the user.

The promising future of AR

One critical measure of a good smartphone is how they approach new technology. In this aspect, TECNO’s CAMON 16 Premier is already off to a strong start with its unique AR Graffiti function that Huawei Y9 (2019) and Samsung A41 do not have. This new function gives users the ability to unleash their creativity digitally and re-imagine their surroundings. The AR Graffiti function has countless brushes and unlimited colors that you can use to customize your photos. This took us by surprise because it is something refreshing on the market, and also we had a lot of fun playing around with this technology.

To make it even better, TECNO CAMON 16 Premier also has other complimentary AR features. AR Sticker and AR Emoji, for example, allows users to interact in many creative ways. The features will enable you to capture any expression you want with over 200 facial features available. This technology also includes light beautification and localization features to make sure you look your best, even in AR. We know AR in smartphones is still an experimental technology, but if this is the direction that it is going to be in the future, then we think the CAMON 16 Premier will become popular very fast.

After reviewing so many functions, the clear winner amongst these three phones is clearly TECNO’s CAMON 16 Premier. TECNO has not only continually integrated advanced technologies into their products, but also makes sure they are an economical product. The CAMON 16 Premier offers outstanding value for money, which is only one of the many other benefits that this phone offers.

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