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Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by Femoje(m): 9:50pm On Oct 05, 2017 |
According to news reports this week, online classifieds marketplace, Efritin.com has closed shop in Nigeria due to Nigeria’s economic conditions, 16 months after its launch. “It basically has to do with the fact that we didn’t get desired returns on our investment, so we decided to scale back on our investments in Nigeria and that means we are forced to let many people leave the company,” Nils Hammar CEO of Saltside, owners of Efritin told ITWeb Africa in an interview. The staff of the company are already leaving the head office, which is located in Ikeja and the properties of the company are being put up for sale. However, the company clarified that the site is not going to be shutdown but it will be up and running as it has been. But how do they intend to manage this? “I think the data cost in Nigeria is very high. In comparison to other parts of West Africa, Africa and the rest of the world, it is very expensive to use the Internet for the vast majority of the people. It is very difficult for e-commerce and classifieds because they are quite late in the evolution of the Internet industry,” said Nils. Why Efritin.com may not have closed shop because of Nigeria’s economic condition It would be recalled that in November 2016, it was reported that the former marketing manager of Efritin.com, Uche Ajene who is well known in the online retail space had accused the Somalian national and former MD of Efritin.com, Zakaria Hersi of stealing thousands of dollars, turning a blind eye to internal mismanagement and false fully creating invoice trails. According to Techmoran, senior members of Efritin.com management who pleaded anonymity say that Zakaria Hersi’s activities were the beginning of the end for Efritin.com Nigeria as they struggled to raise further investment to scale the business. The company is also reported to have 10 court cases in Nigeria that would cost it about N20million in fees. Although in an interview with ITWeb Africa, Nils Hammar CEO of Saltside, owners of Efritin refused to comment on the court cases and said it was not the reason why they were closing shop in Nigeria. “I’m not commenting on any legal issues whether it’s true or its status. I understand the question from your point of view, but I cannot comment on it,” said Nils. Looking at the issues that faced the company one will wonder if the high cost of data or Nigeria’s economic condition is the real reason why they are closing shop in Nigeria. https://naija247news.com/2017/01/15/why-we-shut-down-efritin-com-in-nigeria-ceo-nils-hammar/ 1 Like 1 Share |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by coolcharm(m): 10:01pm On Oct 05, 2017 |
What is efritin.com? Let them just say jiji and olx chased them out. 29 Likes 4 Shares |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by beewhy009(m): 10:16pm On Oct 05, 2017 |
Iyen deep. The citiz6sef dey run comot and you are expecting to stay. Even the President is not always around 28 Likes |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by niqqaclaimz(m): 7:13am On Oct 06, 2017 |
Hmm..Didn't even like to post ads on.the site Well dont forget to check this out https://www.nairaland.com/4088478/Start Different Online Business and make more than $40 a day |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by DanielsParker(m): 7:13am On Oct 06, 2017 |
They have confirmed it also. Nothing works in the zoo. 10 Likes 1 Share |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by Nobody: 7:13am On Oct 06, 2017 |
If a company that did so much advertising and publicity couldn't survive in our nation, I wonder what the future holds for we aspiring entrepreneurs. 62 Likes 4 Shares |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by Ayo4251(m): 7:13am On Oct 06, 2017 |
. |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by Micuryor(m): 7:13am On Oct 06, 2017 |
Yur brand is UNKNOWN. 2 Likes 1 Share |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by HumanistMike(m): 7:13am On Oct 06, 2017 |
The competition is keen these days. Just keep your chin up, gather yourself and apply the lessons to move forward. Good luck. |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by ElectronicsGuy(m): 7:13am On Oct 06, 2017 |
v |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by Bolustical: 7:14am On Oct 06, 2017 |
Running a business in Nigeria requires financial ingenuity, discipline as well as innovation. Despite the unfavourable conditions, many are still making it in their businesses. 9 Likes |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by nony43(m): 7:14am On Oct 06, 2017 |
Abeg who know them? |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by Finstar: 7:15am On Oct 06, 2017 |
You see, even a company with experts as team couldn't even survive the competition. And one of my student who doesn't have money nor the technical experience is disturbing me to create such a site for him.. Not that I can't create it, I don't like delving into something I know won't bear any fruit. Starting such a site will require millions and the right team. If you don't have it, don't even bother. What I do is help people, give them the right advice on how to make it online. If your dream is unrealistic, sorry, i'm not ready to work with you. If you want to delve into the online world, especially as a webmaster or blogger, give me a call or whatsapp.. Make sure your dream is realistic.. 0.8.1.6.7.9.7.0.9.6.9. 4 Likes 1 Share |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by Nobody: 7:15am On Oct 06, 2017 |
HumanistMike: Do you know in conclusion you didn't make any point ..... Must you comment without thinking Smh for your generations 4 Likes |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by kolnel: 7:17am On Oct 06, 2017 |
OLX enjoys better patronage |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by wiringdpt(m): 7:18am On Oct 06, 2017 |
Second time i will see this comment today, is this your new punchline to get likes? Chukason1: 43 Likes 1 Share |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by obiageIi(f): 7:19am On Oct 06, 2017 |
Poor management |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by Welcomme: 7:19am On Oct 06, 2017 |
The name sef... What da hell is efrintin? 2 Likes 1 Share |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by Nobody: 7:20am On Oct 06, 2017 |
wiringdpt: Shut up there who are you |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by Nobody: 7:21am On Oct 06, 2017 |
obiageIi: For your mind ... You made a point ....... 1 Like |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by EagleScribes: 7:21am On Oct 06, 2017 |
If Google can be working this hard though it is still top among the Internet giants, efritin.com should have done better And by the way, the CEO made valid points about the data issue in Nigeria. Though it's not an acceptable excuse 3 Likes |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by Nobody: 7:22am On Oct 06, 2017 |
I just noticed for the first time. I didn't even know it has been shutdown 3 Likes |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by GlobalGisting(m): 7:22am On Oct 06, 2017 |
The cost of data in Nigerian is too high. Our senators are there sleeping and taking half of our annual budget as salary for sleeping. They never address issues of importance. In Dubai, You can do everything online. Crash the prices of data and internet business will thrive. Instead the FG impose tax upon tax on companies making it impossible for them to adequately function. 4 Likes 1 Share |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by Nbote(m): 7:22am On Oct 06, 2017 |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by BALLOSKI: 7:25am On Oct 06, 2017 |
Hmmmm |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by eagleonearth(m): 7:27am On Oct 06, 2017 |
I almost bought a car through their site last year. The only problem I discovered was that Custom officers use that site a lot to auction impounded goods. 4 Likes |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by Sharon6(f): 7:28am On Oct 06, 2017 |
Eeyah. GET RID OF STRETCH MARKS, CHECK MY SIGNATURE! |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by BALLOSKI: 7:29am On Oct 06, 2017 |
modelmike7:afraid de catch me sef . 1 Like |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by AnodaIT(m): 7:29am On Oct 06, 2017 |
na wa o Effitin down, Gomyway down Buhari why? 4 Likes |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by aku626(m): 7:30am On Oct 06, 2017 |
Sad |
Re: Why We Shut Down Efritin.com In Nigeria – CEO, Nils Hammer by deepwater(f): 7:31am On Oct 06, 2017 |
kai Apparently, there is no keke or danfo in Lagos without that their white efiritin sticker at the back Truly, this administration has never been a friend to business 5 Likes 1 Share |
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