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Just Spoke With BuzzFeed on Ecommerce

I just spoke with BuzzFeed on ecommerce in Africa.

The easiest way to waste money and destroy value in Nigeria is to start an ecommerce business. As I have noted many years ago in a seminal piece in Harvard Business Review, making money on ecommerce in Africa would happen but would take a really long time. I do not expect any to work till after 2023 (2022). But before then, it is putting good money in a value-destroying venture that would bleed cash until the owners give up. Ecommerce today in Africa is simply a loss-making online endeavor only people with deep pockets can do. You can be in it if you do not care for profitability.