Large sellers are the key for e-comm
Online sales | Large sellers expand the scope of consumer choice - istock×
They source an array of goods from MSMEs. The notion that they hinder small sellers is misplaced
The National E-Commerce Policy has been in the works for the past few years. The policy presents a tremendous opportunity to boost small and medium businesses, facilitate their migration to online channels, and help them expand their reach. A recent study by Nasscom shows that offline and online collaborations will be the mainstay of retail in the next decade. This collaboration is projected to add $640 billion to the retail market by 2030. A progressive policy can help create the right kind of environment to support this kind of growth. Since selling online comes with a unique set of challenges, the e-commerce policy should lay the groundwork for ease of doing business and offsetting costs associated with online sales.
Budget Speech 2021: What will Tito Mboweni tell South Africans?
Finance Minister Tito Mboweni’s budget speech comes in the wake of shocking unemployment figures and a warning by ratings agency Moody’s, to further downgrade the country’s credit rating
The Minister of Finance Tito Mboweni is expected to deliver the 2021 Budget speech on Wednesday, 24 February 2021. The devastating impact of the COVID-19 pandemic on the country’s economy is certainly no secret and in that respect, Mboweni may not have too much good news to share.
The minister is under immense pressure to essentially deliver a financial plan which sectors including labour and business will be satisfied with, but if history has taught us anything, this is quite unlikely.
Good morning.
We are reporting on Ngozi Okonjo-Iweala’s landmark achievement, a series of security meetings to deescalate violence across the country, and Nigeria’s continued hunt for COVID-19 vaccines.
Nigeria’s Ngozi Okonjo-Iweala poses at her home in Potomac, Maryland, near Washington DC, minutes before she was confirmed as the first woman and first African leader of the beleaguered World Trade Organization, on February 15, 2021. Eric BARADAT / AFP
Okonjo-Iweala Makes History
Nigeria’s ex-Finance Minister, Ngozi Okonjo-Iweala has been confirmed by the World Trade Organisation as its next Director-General. The news sent Nigerians into a celebration frenzy. The word ‘Congratulations ma’ was high on Twitter’s trends list late Monday.
Increase in inflation and FOREX
NERC in a statement on Tuesday confirmed the adjustment of the electricity tariffs between two naira and four naira, saying it was to reflect the increase in inflation and foreign exchange rates.
According to the statement, the Commission said although tariff increases for Bands D and E (Customers getting power below 12 hours daily) remain ‘frozen’, it, however, admitted that the tariff rates for these classes of customers were also “adjusted’ upwardly.”
The statement said: “In compliance with the provisions of the Electric Power Sector Reform Act (EPSRA) and the nation’s tariff methodology for biannual minor review, the rates for service bands A, B, C, D and E have been adjusted by N2.00 to N4.00 per kilowatt-hour (kW-hr) to reflect the ‘partial’ impact of inflation and movement in foreign exchange rates.
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