24 Apr YuuZoo Signs Joint Venture Agreement With Africa’s Largest TV Network For The Launch Of YuuZoo’s Virtual Shopping Mall On TV Across Africa
50:50 joint venture with Nigerian Television Authority (“NTA”) reaches all of Nigeria’s 178 million or the seventh most populous country in the world and several overseas markets through online, satellite and IPTV
All revenue from e-commerce and advertising will be collected by YuuZoo
NTA will provide extensive marketing on TV and will sell advertising on YuuZoo’s social networks to local advertisers
NTA has also acquired from YuuZoo the exclusive license for television marketing and revenue share of YuuZoo in Nigeria
Singapore, 24th April 2015: Singapore Exchange Listed YuuZoo Corporation (“YuuZoo” SGX: AFC) the world’s first 3rd generation social m-commerce network, today announced that it has signed a 50-50 joint venture with Nigerian Television Authority (“NTA”), Africa’s largest TV  network with a reach to Nigeria’s 178 million  population as well as a large international audience.
Under the agreement signed in Abuja, Nigeria yesterday, YuuZoo will, for Nigeria and the other markets that NTA reaches, launch a fully localized version of its virtual shopping mall. NTA will, in turn, provide extensive marketing of the localised version of www.yuuzoo.com through its TV programs. NTA will also develop new TV shows linked to social networks that will be planned together with YuuZoo, and sell to local advertisers advertising for each network that is chosen to be promoted by the joint venture.
NTA also has acquired from YuuZoo the exclusive license to market and revenue share with YuuZoo on television in Nigeria.
YuuZoo will manage and host the virtual shopping mall as well as the advertising platform, the e-commerce platform and the payment platform. All revenue collection will be done by YuuZoo.
According to eMarketer, one of the world’s leading authorities on digital data, the Average Revenue Per User (“ARPU”) for digital advertising across Africa in 2014 was USD 5.77 , and the ARPU for e-commerce across Africa in 2014 was USD 601 .
With effective TV campaigns having a conversion rate of up to 25% , this represents a potential of multi-billion USD revenue annually for the joint venture.
As a result of the joint venture agreement with NTA, YuuZoo has more than doubled the staff at it local office in Nigeria, where before the now signed joint venture with NTA the company already has agreements with Etisalat, the largest mobile operator across the Middle East and Africa and the fastest growing operator in Nigeria, and Nigeria-based Redeemed Church of God, one of the largest Christian churches in the world.
Says YuuZoo Chairman & CEO Thomas Zilliacus: “The one billion people in Africa represent an enormous opportunity in social e-commerce and social networking. Nigeria, with its 174 million population, is the by far largest market in Africa. We are immensely proud of having been chosen as the joint venture partner by Nigeria’s largest TV network. The agreement is the latest addition to a growing line of agreements with leading partners in the world’s largest economies, and once again validates, by Africa’s largest TV network choosing YuuZoo, the fact that YuuZoo’s platform and patent-pending solutions are amongst the most advanced and reliable in the industry.”
“We are very excited about the fact that we have signed a joint venture agreement with yet another leading media company. Media companies and telcos, which are our key partners, have a vast captive audience, which we believe we together can convert into active users of services within our virtual shopping mall,” he concluded.
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Headquartered in Singapore and listed on the SGX mainboard (SGX: AFC), with access to over 85 million registered users and 700 million TV viewers across 164 countries, YuuZoo in a unique way combines social networking, e-commerce and games 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
ABOUT NIGERIAN TELEVISION AUTHORITY :
The Nigerian Television Authority “NTA” was inaugurated in 1977 and is the government-owned body in charge of television broadcasting in the country. The NTA runs the biggest television network in Africa with stations in several parts of Nigeria. In addition to reaching viewers across all of Nigeria, a number of NTA programmes can be viewed online via Africast as well as TelAfric Television (US & Canada). NTA News bulletins are frequently aired on Africa Independent Television, and BEN Television in the United Kingdom. NTA is also on the IPTV platform SuncasTV, and via free-to-air satellite on Galaxy 19, Intelsat 905 and Intelsat 507
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 Source: http://www.nta.ng/ (April 24, 2015)
2 Source: http://www.worldometers.info/world-population/nigeria-population/ (as of July 1 2014)
3 Source: http://www.pwc.co.za/en/assets/pdf/enm-2013/internet.pdf (p. 71, April 24 2013)
4 Source: emarketer- (January 2013)
5 Source: http://themediaonline.co.za/2013/06/eight-reasons-why-tv-ads-are-effective/