Skye bank yesterday unveiled an online shopping mall for Small and Medium Scale Enterprises and retailers in the Nigerian market. The online mall, known as YesMall, provides a platform for retailers to sell mostly made-in-Nigeria products and services.
The new online store, called YesMall, offers a unique experience for the bank’s current and prospective SME and retail customers who can buy and sell their products and services from the comfort of their homes by using electronic devices such as phones, tablet, laptop, or desktop. They can also do their transactions by using ATM machines nearest to them.
According to the the group managing director/chief executive officer of Skye Bank Plc, Mr Timothy Oguntayo, the bank came up with the platform after noticing that some SME operators find it difficult to sell their goods as most of the finished goods end up as items of inventory in the warehouses. He further added that noting that e-commerce had gained recognition in both national and global trade, the bank planned to facilitate the participation of Nigerian SME operators in the global e-commerce sales which is currently estimated at $1.5 trillion.
In addition, he explained that the potential worth of e-commerce in Nigeria, put at an estimated $10 billion per annum, offers a huge opportunity for discerning businesses to explore and tap into to grow their market share.
“Available statistics show that the e-commerce sector in Nigeria currently boasts of about 300,000 online orders daily. Our desire at Skye Bank is to substantially grow these figures and make e-commerce the new trade highway in Nigeria,” he said.
