It was an idea and they came to “Tekedia Startup Masterclass: from startup idea to unicorn”. And over months, they refined their business model. They doubled revenue in June. And doubled again in July. Two things were catalytic (will hold those for their strategic competitiveness). Shoptreo is a pioneering B2B fashion retail platform in Nigeria, which connects fashion manufacturers (yes, tailors) in the informal sector to distributors. 

Powered by the trio of innovation, customer-centricity, and pursuit of excellence, they have great results: “Shoptreo has witnessed a tremendous 521% growth over a span of 7 months. This exceptional growth can be attributed to the implementation of a community-based customer approach and retail finance, resulting in a 129% increase in user base over this space of time. 

“This approach has not only facilitated targeted audience engagement and reduced marketing costs, but has also solidified Shoptreo’s position as a trusted player in the fashion retail market across various regions in Nigeria.” They operate in Kano, Aba, etc, scaling Made in Africa. And the forex crisis in Nigeria is helping since many people are going local since the foreign alternatives have become very expensive.

Congratulations Emmanuel (Tochukwu) Jacobs  and George (C) Uteh  for the growth. And Good People, tell your fashion manufacturer (the preferred terminology here for tailors) to join the Shoptreo movement at shoptreo.com. They will turn that tailoring designer, shoe designer, etc into a businessperson with scale.

In this season, I am chronicling some of the startups which began life in Tekedia Institute. Dozens come here, yearly, and our impacts are huge. This is the temple where you master how to build in Africa!

(Photo: she owns a fashion company. Shoptreo distributes as much as she can make. Now, she gets finance to produce more.)

—Press Release

Shoptreo is excited to announce significant achievements and progress made in 2023

Shoptreo is the pioneering B2B fashion retail platform in Nigeria dedicated to bridging the gap and connecting fashion manufacturers in the informal sector to distributors. With an unwavering commitment to innovation and customer-centricity, Shoptreo aims to revolutionize the retail fashion industry.

Since its launch, Shoptreo has experienced remarkable growth and has reached important milestones, establishing itself as a prominent player in the fashion retail industry. The company’s continuous focus on innovation, customer-centricity, and pursuit of excellence has been integral to its success.

Shoptreo has witnessed a tremendous 521% growth over a span of 7 months. This exceptional growth can be attributed to the implementation of a community and referral-based customer approach and retail finance, resulting in a 129% increase in user base over this space of time. This approach has not only facilitated targeted audience engagement and reduced marketing costs but has also solidified Shoptreo’s position as a trusted player in the fashion retail market across various regions in Nigeria.

To better cater to its customers’ needs, Shoptreo has expanded its range of products and services. The platform now offers an affordable delivery option, ensuring the prompt and reliable shipment of orders. Furthermore, Shoptreo provides retail financing solutions that allow our retailers, especially SMEs and MSMEs in the informal sector, to receive goods upfront, with a portion available on credit. This strategic initiative minimizes recurring delivery expenses and facilitates efficient business expansion for customers.

The provision of flexible financing options by Shoptreo has not only enhanced customer loyalty but also improved customer retention. By enabling customers to have positive purchasing experiences through convenient payment options, Shoptreo has significantly increased the likelihood of customers returning for future purchases. This loyal customer base is essential for sustaining growth and driving profitability.

Shoptreo’s adoption of retail financing has attracted a broader customer base, allowing individuals to make larger purchases regardless of their financial constraints. As a result, the company has experienced accelerated business growth. Through effective management of cash flow and revenue, Shoptreo has been able to re-invest in marketing efforts, and customer acquisition. This has fueled the expansion of the business and facilitated sustained growth.

Shoptreo has also established vital strategic partnerships with top logistics companies, enhancing its capabilities in providing affordable and efficient delivery services. These alliances ensure an exceptional customer experience, characterized by swift and reliable order fulfillment.

Shoptreo takes pride in its expanding team, comprising industry professionals who share a common passion. The diverse expertise of the team members has played a pivotal role in propelling the company’s vision forward and achieving outstanding results. Shoptreo’s customer monthly conversion rate has increased from 27% to 31%, while the company have grown its gross merchandise value by over 100% in one month.

“We are thrilled by the substantial progress we have made in 2023. Our achievements reflect the hard work of our dedicated team and the continuous support from our customers,” stated Shoptreo CEO, Uteh George.

The Federal Government of Nigeria has partnered with Nigerian commercial bank, Wema Bank, to establish innovation hubs across States in the country, aimed at empowering one million youths with relevant digital skills.

The initiative known as FGN/ALAT Digital and SkillNovatiob Hub, was agreed upon during a meeting between representatives of the bank and the Vice President of Nigeria, Kashim Shettima in Abuja.

Wema Bank’s Managing Director and Chief Executive Officer, Moruf Oseni, said the initiative is designed to revolutionize the way young entrepreneurs and employees interact with technology, entrepreneurship, and skill development.

In his words,

“The Digital & SkillNovation Hub reflects our dedication to fostering a thriving ecosystem that empowers Tech-Savvy Youth Entrepreneurs, Youth Entrepreneurs by Nature, and Young Employees, driving economic growth and sustainable progress across the nation. This centralized platform will integrate cutting-edge digital tools, technologies, and resources to streamline digital activities, collaboration, and information sharing.”

The Digital and SkillNovation Hub will first open in Lagos and Borno states, with Kastina, Cross River, Anambra, Oyo, and Kano states following suit.

The initiative is aimed at providing financial solutions, training, and access to strategic partnerships, empowering young employees to become an integral part of Nigeria’s workforce, especially those deployed through the National Youth Service Corps (NYSC).

Under the scheme, grants will be provided through a collaborative arrangement between the Federal Government and WEMA Bank, allocating N500 million to be given to SMEs and Techpreneurs.

The FGN/ALAT Digital SkillNovation hubs will focus on training one million young adults in software engineering, product management, business analysis, cloud computing, and product design, using specialized resources.

Wema Bank is one notable Nigerian bank that has continued to be at the forefront of equipping Nigerian youths with relevant digital skills. The bank is known for its commitment to innovation and empowerment, with proactive approaches to equipping youths.

Notably, Wema Bank has always come up with initiatives aimed at providing youths with essential skills for the future, empowering them to embrace the digital age and thrive in an increasingly technology-driven world.

The Bank has implemented several initiatives and programs to promote digital skills among its customers and the wider community. These initiatives include;

Digital Literacy Programs: The bank has organized workshops, webinars, and training sessions aimed at improving the digital literacy of its customers. These programs help customers become more comfortable with using digital platforms and services for their banking needs.

Financial Inclusion Initiatives: To promote digital skills and financial literacy, Wema Bank initiatives are aimed to provide financial education to underserved communities, encouraging them to adopt digital banking services.

SME’s Support: The bank is committed to empowering and educating Small and Medium Enterprises (SMEs) with skills and knowledge of current business trends.

The SME-centric Wema Bank has a rich history of supporting SMEs and has, over the years, introduced several initiatives in the SMEs segment Like ALT for Business platform, funding unique start-ups and creatives through its Hackaholics program, SME Business School, SME loan offerings, and many more.

In the Igbo Nation, the wise ones will say “Mberede ka eji ama dike’ [great people are known when they’re confronted with unforeseen challenges]. In ECOWAS history, what the  Niger military junta has done is common if you recall how Yahya of Gambia  packed out when they dropped a minor threat. During Abacha time,  he was the ECOWAS, as he locked up military khaki boys in cells when they rejected his instructions. After he dealt with them, they saluted and delivered as expected.

But time has changed. Yes, Niger can go against Nigeria and ECOWAS because you know what: that is the spirit of democracy which Nigeria is “practicing”. With the Nigerian Senate voting down any military participating from Nigeria, the options are largely limited to carrots and dialogues with some sticks. We do not expect any military mobilization – and that is a good outcome. ECOWAS will meet on Thursday: “The notice of the meeting, which is to be held in Abuja, Nigeria’s capital, on August 10, was sent on Monday by Tinubu, who doubles as the chairman of ECOWAS.”

I call on Nigeria and the broad ECOWAS to swallow any pride. We will all forget in days. But what we will not forget is turning the Niger Republic into another Syria with some parts for Russia, and some for the West.  I have already shared my plan on how we can go about this here. 

Call a meeting of the African Development Bank, African Export-Import Bank, economic ministers of ECOWAS countries and partners of ECOWAS, and work out a regional sovereign guarantee (RSG) package of $5 billion for Niger Republic. That is about the national budget of the country.

Then open an Africa-wide investment opportunity window for Niger, guaranteeing 50% of every investment into Niger Republic in the next three years. Areas to be covered include education, agriculture, healthcare, and related areas. At least 25% of the RSG should go to Niger-native companies.

Comment on Feed

Comment 1: Niger is bigger than Nigeria, so what is exactly this misguided notion that ECOWAS military is capable of dislodging a junta that captured power, largely supported by the local population? How many military personnel can you muster exactly and what would be the instruction? Let this whole embarrassment stop now, because they will be defeated, if they ever enter Niger, the politicians asking for military intervention obviously don’t know what taking war to another’s soil entails.

Gambia was a different case, it was a civilian regime that went rogue, in a very tiny country. If you superimpose the whole of Nigeria into Niger, it will swallow it and still have spaces, yet we are dreaming of invasion and dislodging, this is not a movie scene.

In another one week, we will be done with this Niger thing, nobody will attack or remove anyone, because the odds are heavily against the proponents, they do not stand a chance.

There’s no democracy in West Africa, so let this noise about restoring democracy cease, we never had one.

It is an aberration for fraudulent people to give sermons on rule of law, the very thing they never respected in their home domains. Funny creatures everywhere.

Comment 2: Ndubuisi Ekekwe I enjoyed this piece but down to the last part, I have a reserve. Niger won’t just be turned to Syria, and parts of it for Russia and the West, but the whole west African states will be in a turmoil like never seen before, worse than Africa ever experienced in the previous world wars.

Because it will be a war amongst nations. Like I said earlier, it will gradually spill over, it definitely cannot be contained in Niger alone. They will have no restrictions to attack opposition nations in a bid to weaken their morale. I maintain my stance, that Africa should always rather seek the path of pure brotherhood and friendship because if they create enmities for themselves, there will be no victor.

Comment 3: Any discerning mind can see through Tinubu’s smoke screen. Tinubu, having failed miserably on the home front in just three months of taking office, with his economy in complete mess – Petrol up 300%, inflation out of the charts, USD/NGN shooting for the skies, productive businesses packing up, is desperate for any distraction whatsoever from his economic woes and what a timely gift this Niger drama offers. How ironic that a complete outsider, who would not cry for his own people, is crying more than the bereaved!

Now, Niger has assembled a solid military coalition with Burkina Faso, Guinea, and Mali. In addition, Niger’s military rulers have enlisted support from Russian Wagner mercenary group. Let’s face it, everyone knows that Nigeria’s corrupt military – the same military that could not contain Boko haram – instead resorting to settling with cash, nor bring back the kidnapped girls, nor even feed or provide necessary gear and logistical support for its military, is not in any position to face the Niger Military alliance and Russia’s Wagner. Look very well, the only ones beating war drums are the greedy vultures who are already salivating at the money to be made. That’s just the way it is.