₦airaland Forum

mccoy47:
No I won't

Thank you.

Still love you.

Are you stuck somewhere without a church?

Do you need answers to life's questions?

Do you need a miracle?

Then worship with us at our Christ Embassy Virtual Church with Pastor Chris!!!

Click on this link to participate in today's service


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God bless you!!!

Are you stuck somewhere without a church?

Do you need answers to life's questions?

Do you need a miracle?

Then worship with us at our Christ Embassy Virtual Church with Pastor Chris!!!

Click on this link to participate in today's service


https://www.youtube.com/watch?v=qhm_OPcZHrQ.

God bless you!!!

The news that Nigeria has signed a currency deal with China allowing the free flow of the Chinese Yuan amongst Nigerian banks (https://www.thecable.ng/nigeria-china-sign-deal-on-free-flow-of-Yuan) is arguably one of the best (or worst?) policies so far of the Buhari Administration.

Banks would now be able to settle payments directly from Naira to Yuan, rather than from Naira to black market Dollar and then to Yuan. In fact, an extension of this is that debit and credit cards can now be issued and denominated in Yuan. A sizeable portion of the local Dollar demand is thus eliminated, reducing the pressure on our Dollar reserves.

To boost our Yuan liquidity, the Chinese loans being negotiated by the Federal Govt may be availed partly or wholly in Yuan. This will greatly boost Nigeria’s Central Bank and commercial banks’ Yuan liquidity. In fact, the Nigerian and Chinese Govts are reported to have entered into a framework arrangement for currency swaps as a means of providing the much needed liquidity.

At current rates of 30.74 Naira to the Yuan, and 6.74RMB (Yuan) to the Dollar, Nigeria would be able to fund its importation at the equivalent of the current official rate of N199/$1.

PROS

This policy will lead to a reduced demand for Dollars and easing off of pressure on our Dollar reserves, as a large portion of Nigeria’s import needs are served by China (China is Nigeria’s largest trading partner – http://www.premiumtimesng.com/business/business-interviews/188666-china-tops-u-s-as-nigerias-biggest-trade-partner.html). Deals such as Dangote’s purchase of 3400 trucks (http://venturesafrica.com/dangote-group-signs-deal-for-3400-trucks-supply/) will henceforth be settled in Yuan rather than scarce Dollar reserves, which would then be sufficient to service other legitimate investor demands such as portfolio investments, capital repatriation, etc.

This policy also implies cheaper imports from China as importers from China would import at the equivalent of the current official rate of N199/$1 as against the current parallel market rate of N320/$1.

CONS

This policy may keep Nigeria as an importation-dependent economy. Due to its deliberate policies towards boosting its economics of scale, China produces most goods at a comparative advantage. While we have decried the importation of toothpicks and the likes from China, we must bear in mind that we import toothpicks not because we do not have bamboo and other raw materials in Nigeria, but because China is able to bring these goods to the Nigerian market at a much cheaper price than the one produced right here in Nigeria. The reasons are not far-fetched; the availability of infrastructure, cheap labour and use of manufacturing clusters. This policy would therefore sound a death-knell to the resurgent local production of importation substitutes.

Again, this policy would only bear the projected fruits if and only if the Nigerian factor doesn’t come into play. As demand for Yuan surges, a parallel market for Yuan may soon be created, bringing us back to this same point many years after.

WHITHER NIGERIA?

This policy should not be viewed as a solution to Nigeria’s Dollar dependency as we may otherwise inadvertently create a Yuan dependency. At the very best, this policy should be a stop-gap, a short-term measure devised to keep things in place while we sort out our infrastructural and policy challenges. The future prosperity of Nigeria lies in production for local consumption and export, and not the consumption of foreign imports.

Maxwell Asowata, Legal Practitioner and Business Consultant, writes from Lagos, Nigeria.

Source - http://ecstasyhouseng.com/index.php/2016/04/13/free-flow-of-yuan-in-nigerian-banks-what-you-need-to-know/

Are you really planning to spend N8.9m in 'wages and admin' for a start-up in its first year?

@ OP... I appreciate the fact that you did not come here to argue. However, to completely diss Jumia without having the full facts of the issues on ground is rather unfair.

Let me first disabuse your mind as to my being a Jumia staff or mole on NL. Fact is I am not. I do not aspire to that... not now and hopefully not ever.

Like I said earlier, I am an ecommerce stakeholder having stores across all the major ecommerce platforms as well as my own online store. I run my own business and understand perfectly the issues these merchants are having. For example, the returns issue is a longstanding one and it affects all the ecommerce stores, but most especially those that undertake the order delivery aspect like Jumia does. I can also tell you that it was much worse in the past but steadily improving. Do I still have issues with them? A resounding Yes! But we are all in this for the long term and have to keep pushing for things to improve. Thus, calling for a merchant boycott or de-marketing the company is not the answer, rather as a merchant, you have to seek to understand what the issues are and plan your strategies accordingly.

If Jumia is failing these merchants that are your friends, why are they still willing to do business with Jumia by participating in the survey? You call it greed, but the truth is that they know on the overall, Jumia is good for their business hence they want to get back in! Ask those your merchants in Allen how much they are selling from their physical shops on a daily basis and compare it with the sales they are making on Jumia. I can guarantee you that their sales on Jumia beat their offline sales by far!

In addition, Jumia has not denied merchants access to their suspended accounts. I know because I know people affected. So they can still process pending orders before the suspension as well as track their orders and receive payments. Nobody can manipulate your pending payments from back-end and get away with it, particularly as each merchant has records of all items dropped off at their warehouse. So you can easily tell what you have received payment for and what is pending.

On the staff issue... if you have ever been to Jumia's warehouse and corporate office, you would know that they are overstaffed for the volume of business they are doing. Moreover, with the current economic downturn for most people and companies, orders are not dropping like before and they have to cut costs. Companies in all sectors of the economy are downsizing and even other major ecommerce players have laid off a larger proportion of their staff compared with Jumia.

In the final analysis, your friends know they are better off with Jumia than on their own. My advice would be that they review their strategy. Determine what items suffer the most returns and reduce the listings of those items, while also taking their own steps to promote the platform. Badmouthing the platform will not augur well for either the merchants or Jumia itself.

@ Op... You should have just told us that you came to run Jumia down rather than distorting facts to deceive the gullible.

We are front line patrons of all the major ecommerce stores, giving us much insight into their operations.

Is it true that Jumia has issues with returns? A resounding yes! But over the last few months, there has been appreciable progress in the speed of returns and we expect that it will keep getting better. Because Ecommerce is being deployed in a Nigerian environment without the right infrastructure, it is pretty challenging for the early pioneers such as Jumia and Konga to overcome these basic challenges.

Is it true that merchants were recently delisted? Another YES! But you are wrong to insinuate that the merchants don't know the cause. Infact, you even went on to raise cancellations as the reason for the delisting... and that's the reason right there! How can a merchant fail to ship over 50% of orders received over a period? Eventually these orders are cancelled creating a lot of customer dissatisfaction. Besides, does it occur to you that Jumia spends money on advertising in order to generate these orders? Why should a seller list an item for sale, Jumia brings in the order and then the seller refuses to ship the item? Who loses money spent on promotions? Whose reputation is damaged?

Anyway, your position is forgivable because you are working on hearsay. Tell your friend to work on his survey and just maybe Jumia may find him suitable to continue a relationship with.

Endorsed!

EnterPRO:
comparing Jumia and Konga, it would seem you need a PhD in Nuclear Physics to sell on Jumia while a baby can sell on Konga.

my observation.

buyers however seem to prefer Jumia. they claim Jumia delivery is more organized as you are called before deliveries and can even reschedule.

it appears their delivery fees might be cheaper too. not too sure of that.

Jumia is more buyer friendly because they still operate the cart system, making ordering easier and delivery cheaper for the customer.

Buyers are yet to fully adjust to Konga's new model and may also have misgivings about a seller having all their details as many sellers abuse the privilege by spamming the buyer with future products.

Alashi:
Yesterday was a day forget. Iorpenda did not return after the day's sales. It should be a sign that he sold everything he took with him yet I am not happy, because to avoid this I had told him he must return at the end of everyday's sales. Now I will for guidance on what to do because I don't want to threaten him or make him scared of me in any way. You know he is a good kid in his own right. Any suggestions, will certainly be appreciated.

Don't encourage this behaviour at all! If the nature of your location makes it possible for him to return daily, then he must.

From experience, staff like to test their boundaries and what's unacceptable. So show your displeasure with this new behaviour, otherwise he will soon be returning without money.

From my experience, it's unnecessary reporting the matter to the police and all that. What is your proof of impersonation? Have you seen the passport of the alleged impersonator? Bearing the same name is not sufficient proof as two people bearing same names is fairly common.

Follow Justwise's counsel. Your mum should start the process for the issuance of her passport. Any impersonation will be triggered a long the line and dealt with.

Note also that your mum may also be fingered as a conspirator if she indicates she is aware of any impersonation. It may be viewed that she condoned it all these years.

Keep the enquiries coming

JESS... my brainchild!

Horlufemi:
it's not easy. friends are gone, my fiancée is gone. I'm broke half the time but I won't give up.

That's the indomitable entrepreneurial spirit!!!

Whatever it is, Keep at it, Hit at it, Go around it, Jump over it, Walk through it... whichever you do, DON'T GIVE UP!!!

obiaguna:
I have been doing a whole lot of thinking lately and most of it centers on whether I continue working and putting someone else as a manager while I'm away or resigning completely to manage it.. I have big dreams and I know it's not easy but I am already tilting towards resigning and managing the business myself. It won't be easy Sha but it's possible. What are your thoughts?

I did that about 6months ago and while it has been mightily rewarding, it has not been without challenges that require the best of you. My advise would be to guarantee the financing for the business, guarantee your 6months expenditure (without relying on the income from the business), pray hard... then throw everything you have got at the business.

wapmingle:
like i said m currently into it, moreover as an investor that wont b yo problem to worry about.. v got everytin covered

If you are into it, you would consider shipping fees in your breakdown. The average good quality female heels weigh 0.4 - 0.6kg. That's over 1k if you are shipping via express. Your calculation is also based on an exchange rate of N200 to $1. Am wondering where you will find that... but like you said, it's all covered!

The biggest boost to importation business is ECOMMERCE! However, Ecommerce is still at its infancy in Benin. As a son of the Benin soil, it is my desire to see importers from Benin utilise Ecommerce as a tool to grow their business. The picture below is my one day sale on Jumia... and if I can do it, then you can!

Starting January, I will be enabling Benin importers to sell on Jumia, Konga, Dealdey, Kaymu, etc, right from Benin! It’s possible.

Stanley08:
Thanks alot. I called them they said 1K. I'm looking for 500

I handle my own Lagos delivery using my dispatch rider. May be willing to add your orders to my till @N500 if what you are sending meets our requirements. You can reach me on 08181011208.

Where's the shipping cost from source country to Nigeria?

How do you intend to sell on Jumia from Abia State?

This is what I call GOOD MATERIAL!

Keep up the good work.

@Op... there's more to Alibaba than registering successfully. Its sometimes like a maze in which you can get lost, but it can also be a straight path if you know the way to go.

Points to note for beginners

Buy from only gold sellers
Buyer from sellers preferably in or around guangzhou
Be wary of payment to bank account etc.

State the exact challenges you have... lets see what solutions NL can come out with.

kaposky:
It pays me nothing to lie.
I made that amount a day because one person bought
the product i sell that amount to that amount and i was paid
fully.
so, it was made in a day.
Thanks for contributing anyway.
Again, copywriters may copy it and use for themselves so I have to watermark it with my company name.
Regards

Didn't mean to sound so harsh dear. Just that it gets difficult sieving the wheat from the chaff as many people have been misled by scammers and newbies to jump into importation only to jump out.

While such a wedding may be desirable for various reasons, let's not forget that the marriage is invalid under Nigerian law if this was the only ceremony conducted i.e no traditional or court rites.

bolesco:
mtewww iranu abasa.pls learn how to give things for free.OLESSSSSS

This training held last year and was completely free for all participants. You will do well to read the programme reviews on this thread; or is there something you know that you are not telling?

kaposky:
See how much I made in one day from my mini importation business.

I will teach you how to make cool cash doing mini importation business.

Start first by getting my free report through my signature link below.

To your profit.

While I commend your gift to the public, it doesn't make sense to lie with the image of all the sales you have made in a month, and pass it off as your sale for a day.

This is how your picture should look like if you made that sale in one day:

Quite interesting

Promhize:
This might be the last time I would use St Patricks.

What's the issue?