MarketBuddy, an eCommerce web application platform, has formally debuted in Nigeria with focus on connecting buyers to sellers.
MarketBuddy provides three types of services including sale of goods/items and services from vendors and an auction module. The platform is a one-stop location for goods, services and bidding.
Conceived about four years ago to bridge specific needs within the Nigerian eCommerce space, the firm said customers are able to get their goods and services within the desired price range and quality level.
Accordingly, the firm also seeks to provide affordable web services for small businesses that cannot afford to host a website and use the platform as a stage to showcase goods and services.
Speaking at the formal launch held at The Nest Technology Hub, Lagos, the founder and chief executive officer, MarketBuddy, Adejuwon Adeboboye, said the firm wants to among other things bridge the gap between blue collar artisan, who has no reach on the Internet but that just depends on their traditional day to day pickups from people on the road side by giving them platforms to exhibit products and services globally.
With the firm headquartered in Lagos, Nigeria, Adeboboye said efficiency of the artisans on the platform would be determined by the number of work done, which are ranked and reviewed, thereby helping the platform to reach out to more people.
The CEO revealed that about 3000 artisans have been onboarded to the platform and about 15, 000 goods also on MarketBuddy.
In selecting artisans to the platform, “we sent a few agents to the market to survey and introduce the platform to people, especially those with zero online presence. Then we help them to come to the platform after thorough assessment of such artisan, we do this through verification which includes checking their phone number, NIN and business registration number. This verification is done through our partner, YouID, which gives a verdict before they are onboarded.”
Adeboboye, who said The Nest was the proprietary firm that did the development, stressing that, it was the firm that built the platform from inception, “we subsequently got a new team to push the platform to where it is now.”
Admitting that it was very rough at the beginning years, he said the management had to come up with different marketing strategies, including road shows to push the brand to the market.
He said the firm is fast pushing confidence and trust around the product in people, saying the firm also boasts of a differentiating factor, which is building customized links for artisans to be linked directly to their customers on the platform, thereby making it easier for customers to access.
According to him, the uniqueness of MarketBuddy is that the platform is a one-stop shop for eCommerce, with opportunities like auction platforms (like eBay), providing the opportunity to dispose of items immediately.
He said the firm is keen on becoming a major partner in connecting businesses and services together, adding that MarketBuddy is also looking at becoming the proprietary shopping cards for people in the diaspora.
Providing more insights, Raymond Maduawgu, the head of Operations and Product Manager, explained that after onboarding the artisans through the verification process, “we have a marketing budget for all artisans, which helps to ensure that their businesses are visible, when that is done, we have a 10 per cent cap, which is the lowest in the market. Other competitors take as much as between 15 per cent and 25 per cent. For us there is a 10 per cent mark that does not affect the profitability of the business and at the end of the day, we still help to process the delivery without extending the cost to any artisans.
“For us, the focus is long term; we are not looking at profitability now, but to build a reputation for people to really trust what we are doing.”
Speaking on the security architecture of the firm, he said lots of work has been done at the backend to forestall any challenge to boost the platform, stressing that lots of verification gates before access to the platform.
According to him, in another five years, the firm would extend internally the business unit from end to end, which centres on increasing volumes by having facility management (warehousing and storage) for end users.
He said there would also be training for artisans and that the firm wants to have market shares regionally across the country by ensuring that people in those areas use MarketBuddy.
According to him there is also a plan to move to neighbouring countries within the next five years and then globally.
On his part, Mobolaji Anthony, a data analyst, said the firm has made progress significantly and positioned adequately well to benefit for the global ecommerce market put at $6 trillion, which is open to everybody.
Anthony said checks showed that people are fast leaving local way of shopping and moving online very fast, stressing that data has revealed that about 2.71 billion people use eCommerce daily, of which 2.2 per cent of them shop internationally, “reason we are confident that MarketBuddy has a role to play in that space.”
At the unveiling, Cynthia Alabi, the head of Customer Experience Transactworld Digital Services, said African artisans and small businesses encounter numerous hurdles: limited access to funding, inadequate infrastructure, and a lack of market visibility among others.
According to her, platforms like MarketBuddy have come and are fast transforming the landscape by simplifying e-commerce, broadening market access, and equipping entrepreneurs with data-driven insights to make smarter decisions.
She said by integrating payment solutions, “they’re making it easier for businesses to transact securely and expand globally. At Transactpay, we believe in empowering small businesses through tools that unlock potential.”
Alabi said many small businesses fall into the trap of over-expansion or ignoring market trends lately, stressing that to avoid this, entrepreneurs must focus on their core strengths, embrace technology, and continuously innovate. Building a sustainable business requires discipline, adaptability, and a long-term vision.
