Zoho Grows Business in Nigeria by 31%, Restates Commitment to CSR
Zoho, a global technology company, has announced it grew its business in Nigeria by 31 per cent in 2023, amounting to 43 per cent compound annual growth rate (CAGR) in the last three years.
With Nigeria, being one of its key markets in the African region, the company said it has developed over 55 apps on the Zoho Nigeria platform, and provided the apps in Naira to help local businesses avoid fluctuating dollar rates.
Country Head, Zoho Nigeria, Kehinde Ogundare, who revealed it on the sidelines of Zoholics Nigeria, the company’s annual user conference, also announced Zoho’s collaboration with Bridge International Academies, designed to support the education of underprivileged children in Nigeria.
According to him, “Zoho has experienced impressive growth in the Nigerian market since commencing operations in 2020. Over the past three years, Zoho has achieved a 43 per cent compound annual growth rate (CAGR) in Nigeria. In 2023 alone, Zoho saw a 21 per cent increase in its partner network.
“Additionally, the company expanded its local workforce in Nigeria by 40 per cent in the previous year.”
Zoho’s success in Nigeria stems from the widespread adaptation of its flagship products, including Zoho Workplace, Zoho Books, Zoho Desk, Zoho CRM, and Zoho One. These products have played a crucial role in optimising business operations, improving customer experience, and enhancing efficiency.
According to Ogundare, Zoho’s success in the Nigerian region is driven by key sectors such as financial services, energy, real estate and construction, IT hardware and IT related services, professional services (non IT), utilities and resources, and retail.
“As we continue to grow our presence in Africa, our focus is on ensuring that our expansion positively impacts the local economy, communities, and the broader business ecosystem. This approach aligns with our transnational localism strategy, which emphasises being rooted in local markets while staying globally connected.
“To support this, we are committed to hiring local talent, strengthening our partner network, and creating products tailored to the local market,” Ogundare further said.
According to him, to serve the Nigerian community better, Zoho is supporting the education of children and also undertaking sustainability initiatives.
On community and environment initiatives, Ogundare said: “Zoho is partnering with Bridge International Academies to establish a meaningful Corporate Social Responsibility (CSR) initiative in Nigeria, Kenya, and Uganda. The primary objective of the partnership is to support the education of 200 children from underserved communities by sponsoring school uniforms, fees for four terms, and other essential items for students attending Bridge International Academies.”
The initiative, according to him, aims to address the issue of financial constraints that hinder many pupils’ access to essential school supplies.
Zoho recognises the crucial role of education in societal development and is committed to breaking down these barriers by supporting Bridge International Academies pupils with necessary supplies.
It also aims to assist Bridge International Academies in its digitalisation efforts, offering Zoho Wallet Credits to help them utilise the company’s technology.
