Olufemi Adeyemi
The global technology company, today said that it grew by 31% in 2023 in Nigeria, one of its key markets in the Africa region. The company has been providing its 55+ apps in Naira to help local businesses avoid fluctuating dollar rates.
Its revenue growth in the Middle East and Africa (MEA) has shown impressive figures, with increases of 55% from 2018 to 2019, 29% in 2020, 52% in 2021, 43% in 2022, and 31% in 2023. In Nigeria, the revenue growth from 2018 to 2019 was 34%, followed by a remarkable 73% in 2021, 50% in 2022, and 31% in 2023.
In 2023, Zoho's leading products in Nigeria include Workplace, One, CRM Plus, Books, Desk, and the CRM application. The company boasts a portfolio of more than 55,000 applications and employs approximately 15,000 individuals globally, serving around 700,000 customers.
The acronym ZOHO stands for Small Office / Home Office, reflecting its commitment to empowering users.
In addition, Zoho announced a collaborative partnership with Bridge International Academies to facilitate the education of underprivileged children. These announcements were made during Zoholics Nigeria, the company's annual user conference.
"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," said Kehinde Ogundare, Country Head, Zoho Nigeria. "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. Additionally, to serve the community, we are supporting the education of children and also undertaking sustainability initiatives."
Community and Environment Initiatives
Zoho is collaborating with Bridge International Academies to launch a significant Corporate Social Responsibility (CSR) initiative across Nigeria, Kenya, and Uganda. The main goal of this partnership is to enhance the education of 200 children from disadvantaged communities by providing sponsorship for school uniforms, tuition fees for four terms, and other vital supplies for students enrolled at Bridge International Academies.
This initiative seeks to tackle the financial barriers that prevent many students from obtaining essential educational materials. Zoho acknowledges the vital importance of education in fostering societal progress and is dedicated to eliminating these obstacles by equipping Bridge International Academies students with the necessary resources.
Furthermore, Zoho intends to support Bridge International Academies in its digital transformation efforts by providing Zoho Wallet Credits, enabling them to leverage the company's technological solutions.
"Every child has the right to education, yet many children from underprivileged backgrounds face significant barriers to accessing quality learning opportunities. That's why we are committed to transforming the lives of millions of children in underserved communities by delivering life-changing education. Through strategic partnerships, we aim to bridge this gap by providing vital resources and high-quality education to the students we serve. We are thrilled and deeply grateful for our partnership with Zoho, as our shared commitment to delivering meaningful value is at the heart of what unites us," said Foyinsola Akinjayeju, Managing Director, Bridge International Academies, Nigeria.
Zoho is also recycling the billboards of its out of home ads and turning them into bags. Over 500 flexes from Nigeria and 1300+ in Kenya have been recycled so far.
"At Zoho, we believe that our growth should go hand in hand with the success of our customers, partners, employees, and the communities we are part of. In Nigeria, we embrace this same philosophy by hiring locally, expanding our partner network, and offering affordable technology tailored to meet local needs. For the community, we have been investing in youth upskilling initiatives and are now extending support to children's education. We are also committed to strengthening our sustainability efforts, including expanding our recycling programmes, such as flex recycling," said Ogundare.
Zoho's Growth in Nigeria
Zoho has achieved remarkable growth in the Nigerian market since its inception in 2020. Over the past three years, the company has experienced a substantial 43% compound annual growth rate (CAGR). Notably, in 2023 alone, Zoho witnessed an impressive 21% expansion in its partner network. Furthermore, the company strategically increased its local workforce in Nigeria by 40% in the preceding year, demonstrating its commitment to the market.
The success of Zoho in Nigeria can be attributed to the extensive adoption of its key products, including Zoho Workplace, Zoho Books, Zoho Desk, Zoho CRM, and Zoho One. These products have been instrumental in optimizing business operations, enhancing customer experiences, and increasing efficiency. Zoho's success in the Nigerian region is attributed to 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.
Other upskilling initiatives in Africa
Earlier this year, Zoho announced multiple upskilling collaborations throughout Africa. As part of the Young Creators Program, Zoho teamed up with She Code Africa, a non-profit organization focused on empowering and enhancing the skills of African women in technology. The company facilitated "train the trainer" sessions for SCA Academy instructors, providing them with the necessary skills to utilize Zoho Creator, Zoho's low-code application development platform. These trainers will subsequently educate more students affiliated with SCA to create impactful applications using low-code technology, addressing real-world business challenges.
In Kenya, Zoho partnered with MOMO Pencils, a prominent producer of eco-friendly stationery based in Nairobi, for the "Hope for Literacy" initiative. This program aims to tackle intergenerational poverty by enhancing access to quality education for children in underserved areas while promoting environmental sustainability and eco-friendly practices within schools.
Additionally, Zoho collaborated with J-Hub Africa, the digital innovation center at Jomo Kenyatta University of Agriculture and Technology, to provide training for JKUAT technology students. This partnership will concentrate on teaching students how to utilize Zoho's cloud-based business applications, thereby improving their technological skills and preparing them for a variety of career opportunities across different sectors.
Recently, in South Africa, Zoho worked with BabesGotBytes to equip over 40 girls and women with digital skills through an extensive one-year boot camp, aimed at closing the skills gap and increasing female representation in the tech industry. Furthermore, Zoho partnered with CodeTelligence to support a six-month boot camp for 36 economically disadvantaged youth, offering IT training and mentorship to boost their employability and readiness for the job market.