Ugoo Chukwunyelu is the CEO/ co-founder of Shopazhub. Shopazhub is an innovative and thriving e-commerce marketplace powering African Small and Medium Enterprises to engage in cross-border commerce.
According to Ugoo, the idea of the business emerged out of frustrations as a business owner. “I noticed a gap in the market where small businesses struggled to reach a wider audience, and at the same time, consumers faced difficulties finding unique products.”
With this vision in mind, he gathered a talented team of like-minded individuals, and together, they launched Shopazhub in June 2022, and since then, the platform has grown exponentially, as it continues to adapt and innovate to meet the evolving needs of users.
Ugoo says the opportunity to make a positive impact on both entrepreneurs is where he derives the motivation. “The joy of knowing that our marketplace has made shopping more convenient and enjoyable for millions of people around the world is truly gratifying.” Before founding the Shopazhub startup, I came across a report by UNCTAD which is an arm of the World Bank, which states that out of 90 per cent cross border trade that happens globally yearly, Africa only contributes 2.6 per cent to that number. This number is very abysmal if you look at the great potential available in African trades. One would wonder why are we only doing 2.6 per cent quota in global trade.
“Also being aware of the great value and scale that African SMEs can attain if they start selling in multiple markets spurred me to found the Shopazhub brand together with my co-founder Abiodun Oyekunle who happens to also be the CTO,” he noted.
Lucrativity
“Shopazhub has been fortunate to experience remarkable growth since we launched, starting with its operations in Nigeria. Our innovative approach to online retail, coupled with a strong focus on customer experience and seller support, has led to impressive success for us as a group. However, I must emphasise that our primary goal has always been to foster a vibrant and sustainable marketplace for all stakeholders rather than merely pursuing short-term profits.
“Our mission as a brand is to be a technological enabler to foster growth for cross-border commerce in Africa, hence empowering our merchants not just to scale, but also to be empowered to employ more manpower in their different businesses, hence contributing to reducing the unemployment numbers in their country, this is our primary driving force.”
Challenges
“Like any venture, we have faced our fair share of challenges. Some of the major hurdles we encountered were managing the talents, especially the technological talent base that will form the team that builds the solution while ensuring a safe and secure environment for our users, and keeping up with constantly evolving technologies.
“Additionally, international expansion posed logistical and regulatory challenges. However, with our committed team and strategic partnerships, we are committed to turning most of these challenges into solutions and unlocking value not just for us as a brand but also for all stakeholders in the ecosystem.”
Advice
“To all aspiring entrepreneurs, I would first say, have a clear vision and passion for what you want to achieve. This will drive you through the tough times and keep you focused on your goals. Secondly, surround yourself with a diverse and talented team that shares your vision and complements your skills. Remember that success is a team effort. Thirdly, be open to adapt and learn from failures because failure is an inevitable part of entrepreneurship, but it provides valuable lessons that can guide you toward success. Finally, always prioritise your customers and their needs. A satisfied customer base is the foundation of any successful business,” he pointed out.
Biography
As a young and ambitious entrepreneur, Ugoo Chukwunyelu began his career journey in the finance sector after completing his degree in Biology Education from the Prestigious University of Nigeria, Nsukka in 2014. He worked in the Insurance and then, the banking subsector for seven years cumulatively before leaving to join the business world.
Being in business opened his eyes to many challenges faced by SMEs, especially those operating the brick-and-mortar model. His passion for technology and online retail led him to co-found Shopazhub e-marketplace with Abiodun Oyekunle who serves as the startup CTO, which has now become a leading player in the e-commerce industry. Ugoo Chukwunyelu has been recognized for his visionary leadership and has received several awards for innovation and business excellence.
