Zoho reported a 31% growth in Nigeria in 2023, making the Nigerian market one of its key markets in Africa. This information was revealed by country manager Kehinde Ogundare during the annual user conference Zoholics Nigeria.
Introduction
Zoho, a global technology giant, has shown impressive growth in the Nigerian market since its inception in 2020. Kehinde Ogundare highlighted that Zoho is focused on positively impacting the local economy and community, contributing to the company's growth.
Key Growth Factors
Zoho employs a local currency billing strategy in key African and Middle Eastern markets, allowing individual users and businesses to avoid fluctuating dollar rates. This strategy stems from the company's policy of prioritizing stability over profit. Over the past year, Zoho increased its local workforce in Nigeria by 40% and its partner network by 22%, underscoring its commitment to the local market.
Strategy and Partnerships
Zoho has achieved growth through a sustainable corporate culture and high-quality service delivery. The company is known for its low employee turnover and significant increase in the number of employees. In 2023, Zoho recorded substantial growth in its partner network and workforce. Additionally, Zoho has partnered with SME-focused communities to support startup development and strengthen its regional presence. The Zoho for Startups program allows new customers to access Zoho solutions with credits and free services.
Zoho has achieved significant success in the Nigerian market through its localization strategy and sustainable development approach. These accomplishments highlight the importance of local markets for the company's global growth and its commitment to developing local communities and economies.
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