13 Jun YuuZoo Signs New Agreement for Nigeria with Etisalat, The Largest Mobile Operator in Africa & The Middle East New E-Commerce Platform, Targeting Nigeria’s Huge SME Market, Set to Launch End of June 2016
- YuuZoo and Etisalat, the largest mobile operator in Africa and the Middle East, have signed a new agreement that launches a new e-commerce platform in Nigeria, Africa’s biggest market
- Move gives YuuZoo prime access to the booming e-commerce market in Nigeria, with a focus on the huge SME market
- Partnership with the largest telco in Africa and the Middle East opens up the potential for further expansion in the region
- Concurrently, YuuZoo has bought over all rights for Etisalat from its franchisee, who signed an earlier contract with Etisalat in 2014
Singapore, 13th June 2016: Singapore-listed YuuZoo Corporation Limited (“YuuZoo” SGX: AFC) has, in Africa’s largest market Nigeria, signed an agreement with Etisalat, the largest mobile operator in Africa and the Middle East, for the launch of a powerful new e-commerce platform targeting the country’s booming small and medium-sized enterprises (“SME”) market.
The partnership between Etisalat and YuuZoo provides Nigerian SMEs with a broad-based new e-commerce platform, www.smearena.com.ng (“SME Arena”). The platform, built and managed by YuuZoo and marketed in Nigeria by Etisalat, is a portal through which SME’s can market and sell their products and services.
Leveraging Etisalat’s more than 24 million Nigerian subscribers, and targeting Nigeria’s entire 180 million population, SME Arena enables SME’s in Nigeria to access mobile and online consumers for their products. Users of SME Arena can also enjoy the tribal social networks and games offered in the platform.
Etisalat Nigeria is part of UAE-based Etisalat Group, the biggest telecommunications provider in Africa and the Middle East. Etisalat Nigeria’s 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, inter alia, the EPL, Serie A, and Bundesliga. Etisalat also offers La Liga, a partnership for Nigeria with FC Barcelona, and sponsors Africa’s Next Top Model and Nigerian Idol.
Linked to the signing of the new agreement, YuuZoo has bought over all contract rights for Etisalat from its franchisee, who signed an earlier agreement with Etisalat in November 2014. This move is in line with YuuZoo’s strategy of dealing directly with powerful media and telecommunication partners in the world’s 10 most populous markets, whilst appointing franchisees for the remainder of the markets. In lieu of buying the contract rights from its franchisee, YuuZoo will issue shares equivalent to a value of US$1.96M to the franchisee’s owner.
Thomas Zilliacus, Executive Chairman of YuuZoo, says: “Our strategy is to build partnerships with strong partners in the world’s largest markets, primarily in media and telecoms. Nigeria is one of the world’s 10 most populous markets. Nigeria is also the largest market in Africa, the fastest growing continent for mobile services. As such, we have bought over all rights to the contract with Etisalat from our UK franchise who signed an earlier agreement with Etisalat in November 2014. We believe the price YuuZoo is paying provides excellent value for YuuZoo and our shareholders. The revenue and profit potential in Nigeria alone is significant. This agreement with Etisalat Nigeria also opens the door for potential expansion to the 18 other markets in Africa and the Middle East, where Etisalat operates. SME Arena also is a blueprint that can be modified and offered to telcos around the world”.
James Sundram, CEO of YuuZoo, says, “This marks the culmination of almost a year of negotiations with Etisalat. The e-commerce market in Nigeria is young and booming. With Etisalat providing strong marketing support, the partnership will enable us to build a very strong position in e-commerce, social networking and games in Nigeria. We have a strong team on the ground in Nigeria, and are excited and very much look forward to this partnership.”
Etisalat (www.etisalat.com), is a multinational UAE based telecommunications services provider, currently operating in 15 countries across Asia, the Middle East and Africa, and is one of the top 20 mobile network operators in the world, with a total customer base of more than 150 million and a market capitalisation of over US$30 billion. Etisalat offers a wide range of mobile communication services for both B2B and B2C markets. In Nigeria, it is famous for the innovative ‘0809’ campaign which enabled Nigerians to choose their own mobile numbers. It holds the local rights to Nigerian Idol and is the official partner of FC Barcelona and Africa’s Next Top Model. The company enjoys a sterling reputation for customer service and is the only telecommunications operator in Nigeria that continually exceeds all the quality benchmarks set by the local industry regulator, Nigerian Communications Commission.
Headquartered in Singapore and listed on the SGX mainboard (SGX: AFC), with access to over 118 million registered users in 164 countries, YuuZoo uniquely combines social networking, e-commerce and games in a mobile-optimised, fully localised tribal marketplace, where the consumer can access hundreds of tribal social networks, shops and entertainment through one single login. YuuZoo grows its international business through a network of franchisees and partners. The network currently covers 68 countries.
For more information, please contact:
Executive, Marketing & Communications
DD : +65 6577 0658
Mobile: +65 8444 5214
Chief Financial Officer
DD: +65-6577 0654
Mobile: +65-8359 1041
 Source: YuuZoo (via the Singapore Exchange) Proposed Issuance of up to 20,000,000 new ordinary shares in the capital of YuuZoo Corporation Limited – Published January 14, 2016