Gbenro Dara appointed managing director of Efritin

14 May 2016

After a year of establishing general marketplace Efritin.com in Nigeria, Zakaria Hersi has handed over to Gbenro Dara. Hersi needs to attend to urgent personal matters, the company disclosed to AIM Group.

Gbenro Dara, managing director of Efritin.com

Gbenro Dara, new managing director of Efritin.com

 Dara, who was co-founder and chief operations officer at leading online auto insurance marketplace MyAutoGenius.com, took over as managing director of Saltside Technologies’ Efritin and is saddled with the responsibility of scaling the company’s presence in Nigeria’s fast growing market. Pushing up the revenue potential of the new platform is another important objective on the list. 

Under Zakaria, Efritin, which recently celebrated its one-year anniversary, secured over 30,000 registered users and over 300,000 daily site visits. The company also discovered revenue sources through the sale of membership packages to users, which comes with benefits such as promoted ads and free deliveries. 

Gbenro said 80 percent of this revenue comes from Lagos, Nigeria’s commercial capital, where the company has its only office. His plan is to reach under-served markets and duplicate the site’s presence in the state, before expanding to other big cities in the country.

Dara has lots of experience of online business management in Nigeria. Back in 2012, he and Leonard Stiegeler, current Ringier Africa general manager, founded Sabunta and Kasuwa, Rocket Internet’s pioneering ventures in Nigeria. Stiegeler later went on to establish Startup Partners Africa, where Dara headed operations.

At Nova Capital, a leading Investment Bank domiciled in New York, which operates on four continents, Dara had a stint with private equity investment, before finally co-founding MyAutoGenius.com in 2014.

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Adegoke Seun

Adegoke Seun has packed nine years experience in online journalism covering Business for EXCEED OMNI Media, AgroNigeria and Ventures Africa. He is a journalist, media entrepreneur and founder of enterprise54.com, a leading entrepreneurship news and magazine site focused on Africa. He is committed to reporting startup trends, funding, business development and lifestyle. Reputed as a small and medium enterprise industry enabler, he advocates entrepreneurship development on the continent and conducts industry research to bridge knowledge gap. He is our West Africa analyst covering major markets like Nigeria, Senegal and Ghana.