• Thursday, February 29, 2024
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Glovo invests N3bn in Nigeria in three years, expands frontiers

Glovo invests N3bn in Nigeria in three years, expands frontiers

Glovo, a quick-commerce start-up, said it has invested over N3 billion in the Nigerian market since its entry into the country in the last three years.

This year alone, it said it has invested over N1.5 billion. The investments are on its growth trajectory in Africa’s largest economy, on talent, partners and expansion drive.

Lorenzo Mayol, General Manager, Glovo Nigeria said this during the opening of a second digital Micro-Fulfillment Center (MFC) of the firms at Yaba in Lagos Mainland for improved service delivery and better customer satisfaction.

He said the firm has “over 2000 partners across the country in running the business. We employ over 1000 couriers and we have more than 50 team members in Abuja and Lagos. And there are more opportunities for couriers, SMEs and for young talent in Nigeria”

Oscar Pierre, CEO and Co-Founder of Glovo who was in Nigeria for the firm’s opening of the second digital Center said the firm operates in seven markets across Africa and “Nigeria has the potential to become the leading market for us”.

Oscar said, “With a young population, emerging middle class, and busy traffic, we recognized a huge potential in Nigeria to drive the adoption of quick commerce to enable people to save time and make better decisions when shopping for groceries online.

“ Since our entrance into the Nigerian market in 2021, we have constantly worked to enhance our operating model to serve our consumers and give everyone easy access to anything in their city. This truly was, is, and will remain our main objective, and it’s evident across all our operations.”

Oscar who arrived in Nigeria from Barcelona said “Glovo is driving the future of retail in Africa, and we are excited about the future opportunities and possibilities in Nigeria.

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“ Our goal is to increase the speed in which we digitise retail in our key markets, allowing us to stay ahead of the trend and offer solutions that enable our retail partners to compete fairly in the digital world,” added Oscar Pierre.

Pierre said that the new development would enable the company to deliver more value-adding and premium services, especially to shape the future of grocery shopping in Nigeria.

He said that the company decided to expand its quick commerce arm, following the success of the business in the Lekki area.

According to him, this will help to meet the increasing consumer demand for rapid delivery on the mainland.

Micro Fulfilment Centre (MFC) or more specifically in Nigeria: Glovo Bargains, according to the company executives, is accessible through Glovo’s app or website.

“It offers customers the best affordable prices for fresh and consumer packaged goods from the convenience of their homes. Using the latest in-store digital technology and dedicated resources, Glovo Bargains ensures the quickest possible delivery times with customers receiving their orders in 20-40 minutes”.

Also speaking, Lamide Akinola, Head of Q-Commerce, Glovo Sub-Saharan Africa said Glovo Bargains was first launched in Lekki in 2022, and after its tremendous success among users on the Island, Glovo is expanding its Quick commerce arm to meet the increasing consumer demand for rapid delivery in the Mainland.

“With Glovo Bargains, consumers conveniently buy groceries and other essential items at better prices than the market, from the comfort and safety of their homes. We are excited to continue to expand our offering to meet consumer’s demands.”