Lcci Expresses Digital Significance For B2b Transactions

President/Chairman of Council, Lagos Chamber of Commerce and Industry (LCCI), Gabriel Idahosa, has explained that businesses would need to undergo unprecedented levels of digital transformation to radically change how they attract and retain customers, market their products, operate within supply chains and provide services.

This was disclosed by him in Lagos at the launch of Zandaux. According to him, B2B commerce is undergoing profound transformations.

According to him, traditional sales models are rapidly declining and the majority of B2B sales interactions between suppliers and buyers are shifting to digital platforms.

He said, “As a B2B organisation, you will have to anticipate that. In Africa, we still have a lot of catching up to do. In Asia and America, almost 70 per cent of all B2B sales are made through e-commerce while Europe is very much lower at about 20 per cent. Africa currently is nowhere near this level."

Idahosa further noted that Africa has long been a reservoir of untapped economic potential, and that the time has come for the continent to harness the power of B2B e-commerce to unlock new opportunities.

According to him, Zandaux, along with similar platforms, has the potential to create value by streamlining and expediting cross-border trade, eliminating inefficiencies, reducing costs and facilitating seamless transactions.

Zandaux stands as a beacon of innovation, offering a cutting-edge B2B e-commerce platform designed to empower businesses across Africa, he explained.

The Chief Executive Officer, Zandaux, Franck Obambi, said the innovation behind Zandaux was identifying the inconsistencies and inefficiencies in the supply chain when it came to trading.

He further stated that the continent possesses a lot of opportunities for seamless trading that are untapped by other platforms and Zandaux was able to address this by providing a way for buyers to acquire products easily and at an affordable cost without the unnecessary stages on the supply chain that are often contributing to the highers prices for the final consumers.

While addressing the issue of collaboration and policy making, the Lagos State Manager, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Bunmi Kole Dawodu, emphasized the need for strong Public-Private Partnerships, urging stakeholders to proactively engage with the government.

He linked the Zandaux’s mission to the broader AfCFTA agenda, highlighting its role in integration.

Chief Executive Officer, Thinkbikes Limited, Tolulope Olukokun, further addressed the challenges hindering intra-African trade, particularly in logistics and currency exchange.

While reflecting on his positive experience with Zandaux, Olukokun explained the platform’s ability to connect businesses across African nations seamlessly.