Zoho grows by 31% in Nigeria, expands workforce by 40%

Zoho, a global technology company, has said that it grew by 31%  in 2023 in Nigeria, one of its key markets in the Africa region.

The Country Head, Zoho Nigeria, Kehinde Ogundare, who disclosed this at the sidelines of Zoholics Nigeria, the company’s annual user conference in Lagos, yesterday, added that the company has   expanded its local workforce in Nigeria by 40% in the previous year.

Ogundare also said the tech company has been providing its more than 55 apps in Naira to help local businesses avoid fluctuating dollar rates.

Zoho also announced its collaboration with Bridge International Academies in order to support the education of underprivileged children in Nigeria.

“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 Ogundare.

“This approach aligns with our transional 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 products9 tailored to the local market. Additionally, to serve the community, we are supporting the education of children and also undertaking9 sustainability initiatives.”

The Zoho Country Head said  the primary objective of the partnership with Bridge International Academies is to support the education of 200 children from underserved communities by9 sponsoring school uniforms, fees for four terms, and other essential items for students attending Bridge International Academies.

This initiative aims to address the issue of financial constraints that hinder many pupils’ access to essential school supplies.

Zoho’s growth in Nigeria

Zoho has experienced continued growth in the Nigerian market since commencing operations in 2020.

Over the past three years, Zoho has achieved a 43% compound annual growth rate  (CAGR) in Nigeria.

In 2023 alone, Zoho saw a 21% increase in its partner network.

Additionally, the company expanded its local workforce in Nigeria by 40% in the previous year.

Zoho’s success in Nigeria stems from9 the widespread adaptation of its flagship products, including Zoho Workplace, Zoho Books, Zoho Desk, Zoho CRM, and Zoho One.

“These products have played a crucial role in optimising business operations, improving customer experience, and enhancing efficiency. Zoho’s success in the Nigerian region is driven by key sectors such as financial services, energy, real estate and construction, IT hardware & IT related services, professional services (non IT), utilites and resources, and retail”, Ogundare said.