26 Nov Etisalat, One Of Nigeria’s Fastest Growing Mobile Telcos, Partners With YuuZoo To Launch Social E-Commerce Networks In Africa’s Biggest Market

Etisalat_logo

 

* Deal opens the door for YuuZoo to the highly lucrative mobile telco market
* Agreement is YuuZoo’s second in a short time in Nigeria, Africa’s largest market
* Partnership targets Etisalat’s growing base of 20 million subscribers and SME’s in Nigeria, with a potential total revenue of over US$500 million[1]
* YuuZoo expands global footprint and sets up Nigeria office to support growing customer base  and high demand from Africa’s largest economy[2]

 

Singapore, 26 November 2014: Singapore-based YuuZoo Corporation (“YuuZoo” SGX: AFC), the world’s first third generation social e-commerce company has signed a ground-breaking deal with Etisalat, the fastest growing telecommunications network in Africa’s most populous country, Nigeria. The partnership, which targets Etisalat Nigeria’s more than 20 million customers, including thousands of SME’s, will bring YuuZoo’s unique social e-commerce model to a market where mobile commerce and mobile advertising is growing rapidly, where current annual e-commerce revenue is over US$500 million and has an annual potential of US$10 billion.[3]

Nigeria is Africa’s most populous country and Etisalat has during its 6 years of operations won a reputation as the most innovative, reliable and service-minded telco in the country. In 2013, it announced a 500 million investment programme to further boost quality and subscriber growth.

Some of Etisalat’s unique services include the Etisalat Football Community, offering fans breaking news, tips, stories, match highlights and all the goals as they are scored from all major football leagues across the world including the EPL, Serie A, Bundesliga, La Liga, etc. Etisalat is also the official partner in Nigeria for FC Barcelona, and the sponsor for Etisalat Prize for Literature and the Nigerian Idol.

Commenting on the partnership, Etisalat Nigeria CEO Matthew Willsher says, “Customer service is of utmost importance to us, and we use social media extensively. It has worked very well for us, and has contributed to our tremendous growth. YuuZoo’s unique social e-commerce model, which combines social networking, e-commerce and gaming under one single mobile-optimized and fully localized destination, adds a hugely attractive dimension to what we can offer the more than 170 million consumers in Africa’s largest market. YuuZoo’s social e-commerce model will create new opportunities for us— that the traditional social media model does not offer.”

Speaking on the partnership, Thomas Zilliacus, Chairman and CEO of YuuZoo remarked, “This is a very exciting project which opens up a completely new business segment, partnerships with mobile operators, for us. Etisalat is a very strong and highly admired brand in Nigeria. Nigeria is the largest market in Africa, with a population of over 170 million. Etisalat’s marketing is focused on the huge youth market where its growth has been very strong. The partnership with Etisalat adds a reach to an additional 20 million subscribers to our existing base of over 65 million in 164 countries. We will work closely with Etisalat and build the business quickly, and have therefore opened an office in Lagos. We see a huge potential in Africa and are very happy to start in Nigeria, the largest country in the region.”

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ABOUT ETISALAT:

In just six years of operations, Etisalat Nigeria has become a major industry player with a growing subscriber base of 20 million in a highly competitive market. Its portfolio of voice and data-centric products include – easy starter, easycliq, easybusiness, easyflex, classic post-paid and easyblaze; all tailor-made to meet the needs of its customers.

Etisalat has won several awards for its outstanding performance, some of which include: ‘Telecoms Brand of the Year’, ‘Best Telecom Customer Service’ Telecom Innovations Company of the Year, and ‘Most Innovative Corporate Social Responsibility Company’, among others.

ABOUT YUUZOO:

Headquartered in Singapore and listed on the SGX mainboard (SGX: AFC), with access to over 85 million registered users in 164 countries, YuuZoo in a unique way combines social networking and e-commerce in a mobile-optimized, fully localized virtual shopping mall, where the consumer can access hundreds of targeted social networks, targeted shops and targeted entertainment through one single login. All networks are localized for each market as comes to language as well as merchandise and design. To see the networks, log into: www.yuuzoo.com. For more information about the company, please log on to: www.yuucorp.com

 

Macquarie Capital (Singapore) Pte. Limited (“Macquarie”) was the financial adviser to W Corporation Limited (now known as YuuZoo Corporation Limited) in relation to the acquisition of the entire issued and paid-up share capital of YuuZoo Corporation and its subsidiaries

 


[1] E-commerce ARPU 25 USD, advertising ARPU 0.75 USD, gaming ARPU 4 USD

[2] http://www.economist.com/news/leaders/21600685-nigerias-suddenly-supersized-economy-indeed-wonder-so-are-its-still-huge

[3] http://www.ngrguardiannews.com/business/182195-nigeria-s-550m-e-commerce-sector-grapples-with-logistics-funding-challenges