VCON: Micro-entrepreneurs Tasked On $175.19bn Direct Selling Market To Speed Up Economic Growth

Nigeria is currently going through its worst economic crisis, leading to widespread hardship and anger, even as journalists have called on micro-entrepreneurs to leverage on direct selling market, which is valued at about $175.19 billion in 2023 and projected to reach around $204.89 billion by 2032, to speed up economic growth in the country.

The journalists made the call at a V-Convention (VCON) Media Experience Sharing Webinar, which took place on Thursday, July 4, 2024.

Journalists that shared their experiences at the Webinar, were Tech Editors: Royal Ibeh, LEADERSHIP Newspaper; Prince Osuagwu of Vanguard Newspaper and N’ankwat Dariem of Voice of Nigeria (VON).
Following their attendance at the VCON in Malaysia, hosted by lifestyle direct selling company, QNET, the journalists recognised the need for Nigerian micro-entrepreneurs to apply the direct selling model to accelerate economic growth in the nation.

According to them, direct selling business is growing, currently valued at around $175.19 billion in 2023, suggesting that there are opportunities in the business.

For instance, Royal, who was VCON 2024 attendee, said it was a great experience. “My take home from the VCON experience is how QNET is empowering micro entrepreneurs all over the world, through its direct-selling business. QNET has given them a purpose in life. Imagine someone who does not have anything doing, all of a sudden, start earning as high as $500,000, all thanks to QNET. I would love to see a time when more Africans will be in that hall, celebrating the founders of QNET,” she stated.

Speaking on some of the unique products rolled out by QNET at the 2024 VCON in Malaysia, Ibeh stated that QNET has over the years rolled out great innovations, all in a bid to improve the wellbeing of people that use its products, adding that the first edition of the VCON 2024, was no exception as the company unveiled great innovations like the Amezcua e-Guard X, an innovative solution designed to mitigate the health impacts associated with mobile radiation from everyday electronic devices, including smartphones, laptops, and televisions.

“The company also unveiled HomePure Rayn, a showerhead that not just filters water but also has the Amezcua Resonance Technology (ART) to help boost energy. It also has an optional Vitamin C capsule which can help remove residual chlorine from the skin and an optional ACF (Activated Carbon Fiber) capsule which removes fine microorganisms,” she added.

N’ankwat Dariem of VON, who was at the VCON 2023, noted the significant presence of young entrepreneurs at the event seeking to improve their lives through direct selling. This resonated with Prince Osuagwu of Vanguard Newspaper, (who attended VCON 2022), as he sees VCON as a platform for knowledge exchange, particularly valuable for replicating success stories in the Nigerian market with its large youth population.

In its opening remarks, regional general manager for Sub-Saharan Africa (SSA), Mr Biram Fall averred that
QNET’s direct-selling business model, driven by e-commerce, has empowered millions in over 100 countries to transform lives while allowing them to pursue their aspirations and goals, adding that VCON serves as a benchmark for the direct-selling industry.

“This unique platform fosters knowledge exchange, develops new ideas, and propels the industry forward by bringing together a diverse group of experts, entrepreneurs, and marketing professionals,” Fall added.

Fall stated that VCON underscores QNET’s commitment to transparency and accountability, maintaining that the company brings together a diverse assembly of marketing professionals, experienced business leaders, and global entrepreneurs associated with the QI Group’s flagship business in Penang, Malaysia. “Every year, since 2022, QNET invites selected journalists from media outlets in Nigeria to attend this important event. It enables stakeholders to witness firsthand the company’s dedication to product quality, ethical business practices, and the empowerment of its Independent Representative network. We are grateful to our media partners who have joined us at various times to mark this important occasion,” he added.

Speaking on the company’s partnership with Transblue, Fall stated, “Our partner, Transblue Nigeria Limited, is a customer service compliance and logistics company. The company saw the challenges companies face in the Nigerian landscape and set out to become part of the solution by bringing superior customer and logistics services to the market. In April 2022, QNET’s official entry into Nigeria was marked by a significant partnership with Transblue Limited, which placed the company as QNET’s legal representative in Nigeria. This partnership has been instrumental in connecting Nigerians to QNET’s global network and empowering the youth.”

He said over the past two years, through the company’s interaction with the media in Nigeria, QNET name has become a household one.

CEO, Transblue Ltd, Mr. Akeem Ajisafe Abiodun, said: “QNET is known for its direct-selling business model, which involves selling products directly to consumers through an e-commerce platform. This business model has empowered thousands of people worldwide to become successful entrepreneurs. Direct selling is not only a promising career option but also a route to economic empowerment. The industry provides an appealing opportunity to launch a business with minimal capital. However, in Nigeria and many African countries, the industry has garnered attention for the wrong reasons due to the prevalence of pyramid schemes and fraudulent practices posing as legitimate direct-selling companies.”

Ajisafe added that VCON is a platform that plays a significant role in dispelling the misconception that direct selling is fraudulent, adding that, “It emphasises the importance of ethical practices, networking, and building sustainable businesses. The event also highlights the value of direct selling as a means of personal and financial empowerment, showcasing the success stories of entrepreneurs who have built their businesses through QNET’s direct selling model.”