DomainKing- Ventures Africa: Nigeria currently has the largest internet-using population in Africa. According to a report by the Nigerian Communications Commission (NCC), there are over 98.3 million active internet users in the country. But despite this growth, a very insignificant proportion of SMEs have established their online presence to take advantage of this opportunity.
Only close to 100,000 .ng domains have been registered by 2018 despite the fact that there are 37 million MSMEs in Nigeria. When compared with South Africa, which has nearly 1.2 million .za domains for 5 million SMEs, the difference is clearly very big. The local domain penetration in South Africa is almost 24 percent, in the US it is close to 50 percent but in Nigeria, it is just 0.25 percent.
Ventures Africa talked with Karan Singh, CEO of DomainKing Nigeria to find out the challenges faced by the SMEs & how DomainKing is going to help change this situation in Nigeria.
Ventures Africa: What are the challenges preventing the Nigerian SMEs to come online?
Karan Singh: Despite the increase in internet penetration in Nigeria, the domain penetration is still very low, owing to the number of challenges with lack of awareness at the top.
Firstly, a majority of small business owners think that having a website or online presence is not required for their business. They assume that websites are only meant for big brands or firms and they (small businesses) have not much to gain from being online.
Catch the full interview here