The global direct selling industry is poised for significant growth, projected to reach a market value of $204.89 billion by 2032, according to Akeem Ajisafe, Managing Director of Transblue Ltd., a key QNET partner. Speaking during the second VCON 2024 Media Experience webinar organized by QNET, Ajisafe highlighted that the industry was valued at $167 billion in 2023, showcasing promising growth potential for entrepreneurs, especially in Nigeria.
Direct selling industry: A booming market for Nigerian entrepreneurs
Ajisafe emphasized that the projected growth presents a golden opportunity for Nigerian entrepreneurs to capitalize on the burgeoning direct selling industry. With its potential to drive job creation, wealth generation, and overall economic growth, direct selling offers an attractive business model for those with entrepreneurial ambitions.
"Direct selling provides a unique opportunity for entrepreneurs to leverage their skills and build successful businesses with minimal capital," Ajisafe noted. "Nigeria has a bright future in this industry. By embracing the direct selling model, entrepreneurs can create jobs, generate wealth, and contribute to the country's economic development."
Importance of ethical practices in direct selling
While Ajisafe was optimistic about the industry’s potential, he underscored the importance of distinguishing legitimate direct selling companies from Ponzi schemes. He affirmed QNET’s commitment to ethical practices and transparency, working to educate the public about the benefits of direct selling and dispel negative stereotypes associated with the industry.
V-Convention 2024: A benchmark for direct selling excellence
Ajisafe also spoke about the recently concluded V-Convention 2024, held in Penang, Malaysia, which attracted over 8,000 attendees from 30 countries. He described the event as a benchmark for the direct selling industry, showcasing QNET’s efforts to empower individuals and communities worldwide through its business model.
"The V-Convention serves as a platform for knowledge exchange, idea generation, and industry growth," Ajisafe explained. "It brings together a diverse group of experts, entrepreneurs, and marketing professionals to propel the direct selling industry forward."
Empowering entrepreneurs and driving Innovation
QNET’s Senior Legal Counsel for Sub-Saharan Africa, Theodocia Quartey, also emphasized the significance of the VCON media webinar. She pointed out that it provided a unique opportunity for attendees to deepen their product knowledge, engage with industry experts, and experience valuable networking opportunities.
Quartey highlighted QNET’s latest innovations, including the eGuardX, a cutting-edge device designed to protect users from the harmful effects of electromagnetic radiation. The product exemplifies QNET’s commitment to offering health, wellness, and lifestyle products that enhance the lives of customers worldwide.
Journalists praise QNET’s initiatives
Sulaiman Aledeh, a journalist who attended the 2024 V-Convention, described the event as a gathering of like-minded individuals passionate about personal growth, entrepreneurship, and wellness. He commended QNET for its ongoing collaboration with law enforcement and legal experts to combat those misrepresenting the brand. According to Aledeh, QNET’s innovations and initiatives deserve more widespread publicity.
Peter Oluka, another journalist, echoed these sentiments, noting that the convention provided entrepreneurs with unparalleled access to international direct selling markets, fueling business growth. He also praised the convention for offering deeper insights into the direct selling industry and the impact QNET has made on job creation both directly and indirectly.
Source: NAN
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