{"id":5120,"date":"2013-06-17T22:24:54","date_gmt":"2013-06-17T22:24:54","guid":{"rendered":"http:\/\/disnaija.com\/nigeria-news\/s-african-company-invests-in-nigerias-e-retail-firms\/"},"modified":"2013-06-17T22:24:54","modified_gmt":"2013-06-17T22:24:54","slug":"s-african-company-invests-in-nigerias-e-retail-firms","status":"publish","type":"post","link":"https:\/\/disnaija.com\/s-african-company-invests-in-nigerias-e-retail-firms\/","title":{"rendered":"S\/ African company invests in Nigeria\u2019s E-retail firms"},"content":{"rendered":"
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Cape Town based Silvertree Capital (www.silvertree-capital.com), an Africa-focused business builder and venture capital investor, has invested in two of Nigeria\u2019s largest e-commerce sites, Sunglasses.com.ng and Glamour.com.ng., according to a press release by Silvertree.<\/p>\n

Both of these leading e-commerce sites offer a broad range of top consumer brands to the burgeoning online shopping market and have a free delivery charge throughout Nigeria.<\/p>\n

Sunglasses.com.ng specialises in genuine, high-fashion eyewear and contact lenses while Glamour.com.ng secures one of the top positions in online retail for cosmetics, fragrances and personal care products. Both e-commerce sites have been built and funded by Startup Partners Africa (SPA) based in Berlin, Germany and Lagos, Nigeria.<\/p>\n

Manuel Koser, Founding Partner at Silvertree Capital and previously co-founder at Zando, said, \u201cWe are very enthusiastic about the online market in Nigeria, which is beginning to show tremendous growth as more consumers start using the internet to shop.\u201d<\/p>\n

Nigeria has a population of over 160 million people, roughly three times the size of South Africa and is rapidly increasing. In 2012, the Nigerian retail market had a volume of approx. EUR 30 bn with 15% yearly growth rate. Internet penetration is at ca. 30% fuelling the tremendous e-commerce growth.<\/p>\n

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