Singapore-based Arcadier sets its eyes on African eCommerce

2018-09-18 12:43:28


September  13, 2018 (SINGAPORE) - With the third fastest GDP growth of any region  at a compound annual growth rate (CAGR) of 4.4%, an internet penetration  rate that is expected to more than double from 18% (216 million) in  2017 to 50% (600 million) in 2025, and a burgeoning youth population  that is willing and able to spend, Africa is rife with potential for  eCommerce.


Picture:  Professor Ivara Ejemot Esu, Deputy Governor, Cross River State, Nigeria  (third from left), Special Advisors, Cocoa, Energy, Minerals, Cross  River Sate, Nigeria; Kenneth Low, CCO, Arcadier; Adaeze Ekwueme,  President, Arcadier CocoOne, at the Parliamentary Room, Cross River  State, Nigeria  (April 2018)

 

Arcadier, the  world’s fastest-growing proprietary marketplace builder platform, is  looking to gain a slice of the pie. In particular, it is setting its  sights on the three countries with the greatest prospects for growth in  the region: Nigeria, Kenya, and South Africa. Their forecasted CAGR in  the eCommerce industry through to 2025 stands at a rapid 37.7%, 39.4%,  and 28% respectively. This closely mirrors the forecasted CAGR of  eCommerce savvy India (between 30 – 34%), underscoring the vast  potential of the three markets.

 

Arcadier  believes that the market is ready for its three-sided marketplace  platform technology. Consequently, in April this year, Arcadier was one  of several companies to join the Enterprise Singapore (ESG) Trade  Mission to Nigeria and Kenya to connect with potential distribution and  ecosystem partners. Reflecting on the visit, Arcadier’s Chief Commercial  Officer Kenneth Low said, “Our visit to Africa validates our research  that the region holds big opportunity for growth in eCommerce,  particularly for digital marketplaces. There are many use cases for  eCommerce marketplaces to disrupt traditional ways of working which will  drive efficiency of trade.”

 

 

Picture: ESG Trade Mission to Nigeria & Kenya (April 2018)

 

Since  the visit, Arcadier has been able to secure a number of partnership  agreements, the first being a distribution agreement with a Kenyan  company to resell Arcadier’s Software-as-a-Service (SaaS) product.  Another is a partnership with Stripe-backed Nigerian payment gateway  company, Paystack, which will enable Nigerian users to send and receive  payments on their marketplaces developed on the Arcadier platform.

 

However,  the most important partnership which Arcadier established was the  Memorandum of Understanding (MOU) with the Cross River State Government  of Nigeria. Arcadier’s digital marketplace technology will be used to  sell the State’s cocoa beans and derivative processed products such as  cocoa butter, powder & liquors directly to the rest of the world.

 

“Africa  is experiencing a digital boom estimated to be a US$300 billion  opportunity. Given the similarities of the growth trends in Africa to  that which we are experiencing in Asia, Singapore companies are well  positioned to work together with local partners to deploy innovative  solutions tailored to suit the market’s needs. There is strong interest  from our companies, from developing e-commerce platforms to supporting  cross border payments. Enterprise Singapore is happy to have played a  part in Arcadier’s entry into the continent. It reflects how size should  not deter SMEs from making giant leaps. We hope more digital companies  will rise to the call and partake in the Africa opportunity,” said Mr  Rahul Ghosh, Regional Group Director for Sub-Saharan Africa, Enterprise  Singapore.

 

Picture:  Udiba Effiong Udiba, Director General of Bureau, Public Private  Partnerships, Cross River State, Nigeria; Kenneth Low, COO, Arcadier;  Adaeze Ekwueme, President, Arcadier CocoaOne; Tang Jiunn Shyong, CFO,  Arcadier

 


About Arcadier Pte Ltd

Arcadier is the world’s fastest growing marketplace creator, and is the recognised global leader of multi-vendor marketplace technology.  Powering more than 7000 online marketplaces in 140 countries, Arcadier offers marketplace solutions for entrepreneurs and businesses of varying sizes, needs and geographical locations. Arcadier marketplaces supports many sharing economy ideas; from retail to services, rental of space & exhibitions. Learn more at: www.arcadier.com 

 

Press Contact: 

To learn more about Arcadier Marketplaces or to speak to Arcadier’s founders, contact Samuel Kuek at [email protected], or visit the website at www.arcadier.com

Address: 34 Boon Leat Terrace, #04-17, Singapore 119866, Republic of Singapore

Media Contacts:

Company Name: Arcadier
Full Name: Kenneth Low
Phone: (65) 63762880
Email Address: Send Email
Website: www.arcadier.com

For the original news story, please visit https://www.prdistribution.com/news/singapore-based-arcadier-sets-its-eyes-on-african-ecommerce/3579163.