In light of the recently published Kinnevik Q2 2016 earnings report, TechCabal organised a conference call at noon yesterday with a few financial and e-commerce experts to discuss the state of the internet business in Nigeria. One of the experts on the call, an Investor named, Eloho Omame thinks the real issue is that the Nigerian market space isn’t large enough to support two successful e-commerce companies.
Oo Nwoye disagrees. According to a thread of tweets he sent out this morning, pointing out that he’s spent a few hundred dollars on Amazon this year, as opposed to nothing on either of Nigeria’s biggest e-commerce platforms. In his opinion, going deep first, before going wide (that is, do a few things VERY well) is a much better strategy than burning through cash trying to acquire customers from all sorts of spheres.
The question is, is this a size of market conversation or is there an execution gap that even being the biggest e-commerce sites on the continent haven’t bridged?
Read Oo’s tweetstorm here.