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Zinox Set to Acquire Jumia

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Leo Stan Ekeh.
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Jumia, one of the major e-commerce players in the African market, appears to be battling severe headwinds after its share price – which once traded at record highs of $59.96 tumbling down and currently trading at less than $5 – prompting speculations of a loss of investor confidence and a surprise takeover by Sub-Saharan Africa’s leading tech conglomerate, the Zinox Group.

Leo Stan Ekeh.

In April 2019, Jumia had listed on the New York Stock Exchange (NYSE) with an eye-catching IPO which witnessed share prices opening at $14.5 and rising as high as $26. However, two weeks after, a damning report by Citron Research had accused Jumia of fraud, describing its stock as worthless.

Specifically, the report had highlighted discrepancies in financials between investor presentations and SEC filings by Jumia, accusing its management of fraudulently inflating order numbers, while also labelling it a company burdened with inefficiencies.

Although Jumia denied any wrongdoing, the allegations from Andrew Left, founder of Citroen Research, resulted in a class-action lawsuit which Jumia recently settled out of court for $5m.

However, the debacle appeared to have seen investor confidence in Jumia take a huge bashing, with the likes of Rocket Internet and MTN Group, among others, exiting.

Several reports and articles in local and international media also detailed how the company which prided itself as the continent’s first unicorn fell from grace and how Jumia’s misadventure had tainted the potential of African e-commerce.

Now, confidential information from a few highly placed sources indicate that Chairman of the Zinox Group, Leo Stan Ekeh, is ramping up shares in Jumia indirectly for a possible acquisition.

Feelers say the serial digital entrepreneur, who is credited with pioneering e-commerce in Africa with his now-defunct BuyRight Africa over 12 years ago, is replicating the same strategy which he deployed successfully in acquiring Yes Mobile, a cosmopolitan high-value retail outfit, Ashour Corporation, a foremost telecommunications services provider headquartered in Dubai, UAE and more recently, Konga.

Ekeh acquired Konga, another latter-day e-commerce pioneer, at a dying stage in 2018 and turned it around to the point of profitability in barely three years, becoming the first e-commerce brand to achieve this feat which industry experts have termed a miracle.

Confidential sources claim Ekeh is supporting Konga’s massive investment in technology, logistics with a recent investment of over N4b and other infrastructure, including acquiring the single largest warehouse in Lagos, Port Harcourt, Abuja and Onitsha not too long ago, with the brand also attracting concrete interest from a horde of potential investors.

The Zinox Chairman, a restless but very passionate e-Commerce enthusiast, is rumoured by sources to be keen on consolidating the e-Commerce brand with a presence in 15 African countries under Konga to actualize his great but very silent ambition to alter the destiny of Africans.

Efforts to reach Ekeh, who is believed to be on a foreign trip, proved abortive.

However, when contacted, Gideon Ayogu, Head of Corporate Communications, Zinox Group, stated that while nothing positive is impossible, it would be a surprising development if the Group is intent on acquiring Jumia, especially considering the huge work put in by the new owners and current management of Konga in repositioning the brand to its current impressive trajectory.

‘’I am yet to hear Mr. Ekeh speak of any such potential investment,’’ he added.

 


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Broadcasting

NBC Sets 2028 Deadline for Full Digital Switch-Over

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National Broadcasting Commission (NBC) has unveiled a new “Big Picture” strategy aimed at achieving full nationwide Digital Switch-Over (DSO) by December 31, 2028.

NBC Sets 2028 Deadline for Full Digital Switch-Over

DSOis designed to provide Nigerians with superior picture and sound quality while unlocking an estimated N605.2 billion in advertising revenue and generating over $1 billion from digital spectrum auctions.

Charles Ebuebu, director-general of NBC, in a statement issued on Monday, said the revised strategy adopts a converged broadcasting model combining Direct-to-Home (DTH), Digital Terrestrial Television (DTT) and Internet Protocol (IP) systems to expand access to digital television services nationwide.

The Commission also announced June 17, 2026, as the official national launch date for the renewed rollout, describing the framework as a more practical pathway toward a sustainable and affordable digital broadcasting system after nearly two decades of delays.

Ebuebu, said that the transition is no longer being treated as a competition between technologies but as a unified access solution tailored to Nigeria’s geographic and infrastructure realities.

“The Big Picture strategy recognises convergence as the future of broadcasting and aligns with the 2012 DSO White Paper, which adopted both terrestrial and satellite standards including DVB-T and DVB-S2 technologies,” the statement said.

NBC said the Nigerian Communications Satellite Limited (NIGCOMSAT) would play a central role in national content distribution, particularly in underserved and remote areas where terrestrial infrastructure remains weak.

The Commission cited countries such as the United Kingdom, Australia, Kenya, South Africa and Morocco as examples of jurisdictions that successfully adopted hybrid digital broadcasting models to accelerate migration from analogue systems.

On affordability, NBC assured Nigerians that the proposed FreeTV platform would remain subscription-free for baseline access, adding that compatible DVB-S2 decoders currently cost between N15,000 and N25,000. It said discussions were ongoing on possible subsidy arrangements and financing options for low-income households.

The regulator also defended its plan to support both local manufacturing and transitional importation of set-top boxes, noting that Nigeria would require millions of devices over several years to complete the migration.

Beyond transmission, NBC disclosed plans to introduce a national audience measurement system under the GARB ratings framework to improve advertising transparency and broadcasting analytics.

It projected that the DSO programme could unlock Nigeria’s estimated N605.2 billion advertising market while also freeing up valuable digital dividend spectrum estimated at over $1 billion.

NBC further said Nigeria’s creative industry, valued at about N5 trillion and employing more than 4.2 million people, stands to benefit from expanded distribution channels and improved content monetisation.

Broadcasters, it added, would enjoy free carriage on the platform for 18 months, alongside wider national reach, indigenous language channels and improved commercial opportunities.

 


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STBMAN Warns of “Broadcasting Crisis”, Urges Tinubu to Halt NBC’s DSO

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Association of Licensed Set-Top Box Manufacturers of Nigeria (STBMAN) has warned that the unilateral implementation transition from analogue to digital broadcasting, could trigger confusion, legal disputes, and disruptions capable of undermining the credibility of the 2027 general election.

STBMAN Warns of "Broadcasting Crisis", Urges Tinubu to Halt NBC’s DSO

STBMAN urged President Bola Ahmed Tinubu to urgently intervene and halt what it described as a unilateral implementation process, pending wider consultations with stakeholders in the broadcasting industry.

Sir Godfrey Ohuabunwa, chairman of the association in statement in Abuja, faulted the current implementation process by the National Broadcasting Commission’s (NBC).

STBMAN said that although it supports Nigeria’s digital migration programme, the approach currently being pursued by the NBC appeared rushed and inconsistent with the 2012 Digital Switchover (DSO) White Paper approved by the Federal Executive Council.

The association argued that the arrangement being presented as a Digital Switchover was merely the aggregation of channels on NigComSat platforms rather than a fully Digital Terrestrial Television (DTT) migration as originally envisioned under the national DSO framework.

According to the group, failure to carry critical stakeholders along could erode public confidence, weaken access to information, and create avoidable disruptions in the broadcasting sector at a politically sensitive period ahead of the 2027 elections.

It noted that millions of Nigerians still depend on free-to-air broadcasting for information dissemination, civic education, election coverage,e and public enlightenment.

The group stressed that any poorly coordinated migration process could result in signal disruptions, public confusion, and unequal access to information during the election season.

STBMAN also expressed concern that the NBC risked creating a conflict of interest by acting simultaneously as regulator and content aggregator, contrary to the spirit of the 2012 White Paper and global best practices guiding digital broadcasting migration.

The association, therefore, called for an urgent national stakeholders’ roundtable, an independent legal and technical review of the DSO process, review and update of the 2012 DSO White Paper, nationwide public sensitisation on the implications of digital migration, and measures to protect local broadcasting and public interest.

It maintained that it was not opposed to digital migration but insisted that the process must be transparent, inclusive, lawful, and technically sound.

The group warned that failure to properly manage the transition could weaken democratic communication structures, waste public resources, and negatively affect national cohesion and the credibility of the 2027 elections.

“Mr. President, Nigeria cannot afford confusion in its broadcasting system at a time the nation is preparing for another critical democratic transition. The time to act is now,” the statement added.

Association of Licensed Set-Top Box Manufacturers of Nigeria, represents domestic electronics manufacturers responsible for producing the decoder boxes needed for the country’s transition from analogue to digital broadcasting.

 


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FG to Launch Nationwide Free Digital TV Platform June 17

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Federal government, yesterday, said that it will now  launch the so-called  FreeTV, with over 100 channels for news, sports, education, entertainment and children’s programming in multiple Nigerian languages on June 17.

DSO Now Ready for Nationwide Launch- Idris

National Broadcasting Commission (NBC) had initially scheduled for May 15 for the launch.

But the new date was announced by Mohammed Idris,  minister of Information and National Orientation, on Wednesday during a facility tour of NIGCOMSAT, alongside Dr Charles Ebuebu, director general of the National Broadcasting Commission (NBC) and other stakeholders.

Idris said the long-awaited migration from analogue to digital broadcasting had finally become a reality after years of failed attempts and delays, describing the project as a major breakthrough for Nigeria’s broadcasting industry.

“I have been grappling with this idea of the DSO for many years. Moving our transmissions from analogue to digital has now happened and is ready to be commissioned by June 17,” the minister said.

He revealed that several channels had already been bundled onto the platform, adding that the digital transition would transform broadcasting, advertising and television consumption across Nigeria and Sub-Saharan Africa.

According to him, the new platform introduces scientific audience measurement tools capable of tracking viewership patterns in real time, thereby giving advertisers reliable data for targeted campaigns.

“Now science is at play. If you are viewing a station, we know who is watching what and how many people are watching. Advertisers can now take informed decisions about the kind of programming Nigerians want to watch across all demographics,” Idris stated.

The minister said the collaboration between NIGCOMSAT, NBC, the Ministry of Communications and the Ministry of Information had made the digital transition possible, while commending President Bola Tinubu for providing the necessary support and resources.

He described previous DSO efforts as limited and expensive due to encrypted set-top boxes but noted that the new system would be free and accessible to millions of Nigerians.

“In the past, the boxes were encrypted and costly. Now this is free. Government has taken off some of those costs on behalf of Nigerians,” he said.

Idris stressed that unlike earlier pilot phases restricted to a few cities, the new digital platform would have nationwide and regional reach through NIGCOMSAT’s satellite infrastructure.

“Everybody can now watch whatever he wants in real time and painlessly. Free TV everywhere for everybody”, he declared.

The minister also hinted that the platform would challenge the dominance of existing pay-TV operators by offering Nigerians wider viewing options at no cost.

“I don’t want to always use the word ‘substitute’, but this offers opportunities you didn’t get before. You no longer have that monopoly again. Competition is going to set in. Content will grow and viewership will grow,” he said.

He added that the platform would initially launch in standard definition, SD, before quickly transitioning to high definition, HD, bringing Nigerian broadcasting in line with global standards.

“Soon after the launch, we are moving to HD. Nigeria will now compete globally. What you watch here is what you get anywhere,” Idris said.

The minister further disclosed that the service was already available via mobile application and had successfully undergone testing ahead of the official unveiling.

Also speaking during the tour, managing director and chief executive officer of NIGCOMSAT, described the collaboration between NIGCOMSAT and NBC as a strategic partnership that has strengthened service delivery and raised operational standards within Nigeria’s digital broadcasting ecosystem.

According to her, ongoing investments and satellite expansion plans under the current administration will guarantee reliable and continuous service delivery.

“The work has only just started. The work has only just begun,” she said.

Among those who accompanied the Honourable Minister on the tour were  Salihu Abdullahi Dembos, director-general, Nigerian Television Authority (NTA); Jibrin Baba Ndace, director-general, Voice of Nigeria (VON); Mohammed Bulama, director-general, Federal Radio Corporation of Nigeria (FRCN); and Lanre Issa-Onilu, director-general, National Orientation Agency (NOA), alongside other senior government officials and dignitaries.

 

 

 


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