Connect with us

Telecom

Jumia/MTN 1st Megathon ‎Week Attracts Global Mobile Devices OEMs

Published

on

mobile wee.jpg
Kindly share this post

Jumia, Nigeria’s leading online shop and in a few days will be unveiling one of its biggest sale of the year, dubbed ‘the Biggest Mobile Sales Ever’ of the retail industry in Nigeria.

Supported by MTN and Mediatek, the Jumia Mobile Week Megathon will last for a week, starting on May 31st at midnight and lasting until Sunday the 7th of June at midnight, the company announced during a media barley in Lagos.

Jumia has collaborated with all the major international mobile brands to offer deals and amazing discounts on all mobile phones available on the website throughout the week.

Original Equipment Manufacturers like Archos, Blackberry, FLY, Huawei, iMose, Itel, Oraimo and Wiko are amongst the brands that Jumia has partnered with to bring to its customers the highest value for their money.

But the most noteworthy collaboration is undoubtedly the one Jumia stroke with the 7 biggest international mobile brands in Nigeria: InnJoo, Infinix, Tecno, Samsung, Apple, Lenovo and LG.

In addition to discounts on all the mobile phones of the brands, Jumia will offer its customers special “Hero” deals on all 7 brands. 

InnJoo will be unveiling in exclusivity its new InnJoo Fire and the best-seller InnJoo One.

Infinix, the highest selling mobile brand in Nigeria in March will have exclusive hero deals on the Infinix Hot X507 and the Infinix Hot Note.

Tecno will showcase its Tecno Y5 and L7 while Samsung will provide Jumia customers with an amazing hero deal on the Star Plus 2.

Apple, through Istore, the authorized retailer of Apple in Nigeria, comes with incredible hero deals on its two latest phones: the Iphone 6 and the Iphone 6+.

Lenovo will amaze us with hero deals on the A328 and A6000 and LG will close the show on Sunday with hero deals on the L60a and LG Magna.
 
Additional flash sales with discounts of 50% will also take place all through mobile week on hero deals and other new product launches…

New hero deals will be revealed every day of the week, starting at 5am on the Jumia App and at 9am on the desktop version.

With the Mobile week Megathon, Jumia contributes to the formidable growth of mobile penetration in Nigeria and supported by MTN, makes internet penetration easier: every phone bought on Jumia during the Mobile Week will be coming with a free 1 month Gigabyte data as well as a free music stream for 1 month with free SIM cards!
 
What is MTN Bringing?
MTN offers the widest data network in Nigeria with 61 million subscribers in Nigeria and unbeatable data prices.

MTN is supporting the Jumia Mobile week and offer on all purchase of mobile phone 1 month free 3GB data on every device bought during mobile.

MTN is a sponsor of the Jumia Mobile week.

On the other hand, MediaTek is a pioneering fabless semiconductor company and a market leader in cutting-edge systems on a chip for wireless communications, HDTV, DVD and Blu-ray.

MediaTek created the world’s first octa-core smartphone platform with LTE and our CorePilot technology released the full power of multi-core mobile processors headquartered in Taiwan.

Mediatek is also a sponsor of the Jumia Mobile week.

The OEMs
INFINIX
The INFINIX brand represents quality, affordable and premium lifestyle which it promotes encourages and sustains through its variety of products and services. With the brand spirit of challenging the norms, Infinix smart devices are designed specifically for young people who want to stand out, reach out and in sync with the world.

It inspires your daily life, with access to key features that young people look for, such as social networking, access to thousands of free apps and entertainment.

Since its creation in 2009, Infinix has become a major player in the mobile phones and tablets market.

Avant –garde designs, innovative functions and impeccable quality are just some of the reasons why millions of consumers are seduced by our products.

Infinix defines norms and opens the doors to the future, based on it slogan: The future is now!

Jumia mobile week affords us the opportunity to partner with a major player in the e-commerce industry in Nigeria to showcase our unique products and services.

The rapid growth of Jumia.com has seen it emerge as arguably the country’s number one online shopping portal, with over 1000 members of staff after just a short time in operation.

This is also similar to the growth achieved by the Infinix brand in the Nigerian market. Jumia is poised to maintain leadership in Nigeria’s online retail market.

The site controls 70% of the online retail market in the country and has serviced over a million customers, in addition to being independently ranked as second only to Google for preferred online shopping in Nigeria.

Dr. Jonathan Doerr, MD of Jumia Nigeria, said, ‎”Jumia mobile week affords us the opportunity to interact with other brands and compare products and services and also introduce latest trends in the industry.

“As is our commitment to our users and fans, in the near future, Infinix hopes to keep improving on our products and services to reflect the lifestyle of our users. We plan to tailor our devices to meet each individuals need according to their lifestyle and demands.

“Already evident are several improvements to our customer service delivery in terms of creating several avenues for our users to interact with our brand. One of the key elements of this is our Infinix forum which affords users the opportunity to tell us their challenges, offer user feedback and suggest product and service improvements. Another avenue is our Infinix community of users where we interact one on one with the Infinix users.

“Also customers can also keep expecting regular updates via OTA updates which will always offer product and service improvements.”

TECNO
Mr Chidi Okonkwo, Deputy Country Manager of TECNO Mobile said the Tech giant is keen on setting the pace on first high quality professional music phone BOOM J7 delivered to mobile users’ ears through this collaboration with Jumia and that’s one of the driving force behind the Mobile week partnership.

He stated that in 2014 Tecno mobile shipped in tens of millions of devices into the Nigerian market and this year we would increase that figure by a lot more and to be able to deliver our devices to the Nigerian market we should be able to drive strong offline and online partnership and distribution networks to meet the demand of our customers.

Tecno Mobile being one of the biggest mobile players in the Nigerian market strive to have very good service in the ecommerce space in the Nigeria market, and this service will aid the delivery of devices to numerous customers across Nigeria.

“Nigerians love music and we have designed the RIGHT phone that will give our Nigerian customers value and great experience for their money both on mobile services and entertainment and with our multi-channel off and online service we’ll continue to push our strategy of delivering the right product to our customers” Chidi informed.

He also  added that Tecno mobile as a brand is committed to innovation and customer experience and customers should expect to experience more in the area of entertainment with a special focus on music.

Chidi, on his part said that the Mobile Week would focus on how best to harness and promote mobile penetration and inclusion in Nigeria. He highlighted that, as more people spend more time each day on their mobile devices, the mobile platform is fast replacing traditional TVs and PCs in delivering primary entertainment in music, gaming and movies to consumers.

The DCM Tecno Nigeria boss holds the view that the Mobile Week will better showcase the online store’s strategy that has made Jumia Nigeria one of Africa’s most innovative stores in using Mobile platforms to bring the right products more closely to customers via refined mobile advertising toolkits.

SAMSUNG
Samsung and Jumia have partnered with World Reader, a non-profit organisation, in an initiative that will promote literacy and education by pre-installing 15,000 free e-books in Samsung entry level smartphones.

The select smartphones include, Ace 4 Lite, Ace 3, Trend Lite, J1, Star 2 Plus and Ace 4 Neo.

Customers can download about 15,000 e-books for free, thus reducing the cost and stress of having to seek for their hard copies.

The selected smartphones are imbued with the latest Android software, powerful processor with long lasting battery life as well as large memory of 4GB on board which is expandable to as much as 64 GB.

These devices are also provided with an additional 50GB Dropbox cloud memory to download and save books.

The Samsung smartphones pre-installed with the World Reader app are available on Jumia, Nigeria’s leading online retailer and as such can be purchased online and delivered to you anywhere in Nigeria.

The icing on the cake is that these phones will be available at unbelievably discounted prices during the Jumia Mobile Week which takes place from the 1st of June till the 7th of June.

“At Samsung, we believe mobile devices have the power to move people from where they are to where they want to be, which is why we have partnered with World Reader and Jumia on this. We have retailed over 250,000 devices, priced below N25,000 each, mostly to young Nigerians and believe these numbers will be dwarfed, both in terms of retailed units and price, by what is to come during the Jumia Mobile Week”, said Brovo Kim, Managing Director of Samsung Electronics West Africa.

According to Kim, it takes only about 4MB to download 1000 pages, making it easy for consumers to download and read as much as they want without expending so much data. The World Reader app also features books that are suitable for every taste from over 100 African writers, including notable African authors.

“We are proud to be associated with Samsung and World Reader on this project. We have always been passionate about child literacy, with our long running involvement in the 1 book 1 child project a good example. Every child has a right to education and we are delighted to be part of the solution to the challenge in the education sector. We believe this partnership will help promote literacy and education among Nigerians”, said Jonathan Doerr, MD Marketing, Jumia Nigeria.

The Samsung devices will also receive free regular updates of the World Reader app, enhancing the relevance of the content.

LENOVO
Recognising the transformative potential of mobile technology for economic growth, job creation, businesses and wider digital inclusion of Nigeria’s citizens, global leader in mobile communications, Lenovo, the world’s number one PC company and Nigeria’s largest online retail store, Jumia, have combined their resources and expertise to enhance the mobile experience of Nigerians with the country’s biggest mobile sale yet.

The sale is a part of the ongoing Jumia Mobile Week, an initiative geared at enhancing levels of mobile awareness and increasing access to mobile devices among Nigerians.

Describing the move as a demonstration of Lenovo’s commitment to creating and broadening key partnerships that deliver rich mobile experiences to Nigerians, Mr Shashank Sharma, ‎executive director, Mobile Business Group at Lenovo, Middle East and Africa (MEA), expressed the company’s pleasure at being able to deepen its long-standing relationship with Jumia.

“We are very excited to work with Jumia towards increasing Nigerians’ access to mobile technologies. This initiative will help us drive access to affordable and ubiquitous mobile services amongst consumers. It also empowers us to provide a larger set of consumers with increased awareness on mobile as well as access to our superior technology. We believe that every Nigerian should have access to the exciting world of smartphones and Jumia Mobile Week provides another platform through which we can achieve this goal,” he said.

Besides creating a channel for consumers to purchase authentic Lenovo products at affordable prices, the Jumia Mobile Week Megathon also provides Nigerians with access to the latest entrants into Lenovo’s smartphone portfolio.

These include the Lenovo S90, a perfect selfie companion with an 8-megapixel front-facing camera and front LED flash; the ergonomically designed Lenovo S60 that showcases users’ fun and social sides as well as the revolutionary dual-SIM Lenovo A6000 smartphone, the first and only budget device in the market to support 4G LTE networks for the fastest data connectivity.

On his part, Jeremy Doutte, CEO of Jumia Nigeria said: “Jumia is committed to fostering digital inclusion by bringing mobile products closer to the doorstep of Nigerians. Our ongoing Jumia Mobile Week is another step in this direction. Customer experience remains central to the services that we provide and this has ensured a strong partnership between ourselves and Lenovo.”

Doutte urged Nigerians to visit Jumia’s online store on www.jumia.com.ng/megathon and discover for themselves the ease and benefits of online shopping.

INNJOO
InnJoo is a technical startup born with internet DNA. We’re not only providing smart devices but also software services in the MEA area.

– InnJoo listens and does the localisation from the user’s perspective. – InnJoo insists good products need not to be labeled with a high price tag.

– InnJoo strives to continue an Internet Journey with more users and more fun. Born for new generation, we are young, we are change makers!

Amidst the tides of Internet, Jumia Mobile Week opens a wider door to the public and provides every brand a platform to show their style. InnJoo won’t want to miss it, we are born here.

As the biggest mobile sales event in Nigeria, it’s offering the best prices online for the world’s hottest phone brands, consumers can benefit from Internet Joy and start their own Internet Journey.

Jumia Mobile Week also offers every phone with 3GB Data and 6 months of free whatsApp instantly as an extra offer; this is something different and beneficial to the bands and consumer.

Mobile Week has the potential to be a yearly mobile online event, which is a kind of “Oscar Ceremony” in technology industry. Consumers have the right to choose their own favourite brand and mobile model, while brands will improve themselves for the market to the better and better.

As the official gold partner, InnJoo will have an exclusive sales day at the first day of June.

From June 1st to 7th, InnJoo products including smartphone, tablet and accessory are at up to 30% discount as the best price ever compared to the market average price with the same specifications.

Looking at the product line, all of InnJoo phones are equipped with 2GB Ram for better user experience, low price but not low-end. Smartphone InnJoo Fire – 5.0 inch | 2GB Ram | 4 textures shell (Natural Bamboo optional) InnJoo ONE – 5.0 inch | 2GB Ram | Octa-core | 5+13 MP InnJoo Note Pro – 5.5 inch | 2GB Ram | 8+13 MP | 3000 mAh; ‎ Tablet InnJoo F1 – 7.0 inch | Dual SIM; InnJoo F2 – 10.1 inch | Dual SIM; InnJoo Leap 4 – Intel inside | 4500 mAh | 3G&Wifi; Power Bank; InnJoo E1 10,000 mAh and
InnJoo E5 15,000 mAh‎.

LG
LG Electronics (LG) unveiled its eagerly anticipated LG G4 smartphone on the 29th of April, at launch events in New York, London, Paris, Singapore, Istanbul and Seoul.

Approximately 1,000 guests around the world gathered to view the new LG G4, the successor to the G3, which exceeded all expectations in terms of sales and industry awards.

Among the first users of the LG G4 will be 4,000 lucky customers who will receive the new smartphone as part of the company’s largest-ever consumer experience campaign.

With the G4, LG focused on delivering comfortable elegance, a great visual experience and a human-centric user experience.

The LG G4 camera features a rare-in-smartphones F1.8 aperture lens which allows 80 percent more light to hit the image sensor than in the LG G3.

The innovative camera module is paired with the new IPS Quantum Display that is better in every way than the innovative Quad HD display introduced to the world in the LG G3.

The LG G4 embodies human sensibility that is clearly visible in its Slim Arc exterior design and graphical user interface.

“We are living up to our promise of Innovation for a Better Life with a fashionable, premium smartphone that is more focused on delivering a balanced user experience that can compete with the best of the best,” said Juno Cho, president and CEO of the LG Electronics Mobile Communications Company. “We wanted to give consumers a truly human-centric device that combined the analog sensibilities with technologies that delivered real world performance. From the design to the camera to the display to the UX, this is the most ambitious phone we’ve ever created.”

Comfortable & Elegant Design
LG paid special attention to the materials utilized in its newest flagship.

The LG G4 is available in handcrafted, genuine full grain leather in six beautiful colors.

The vegetable tanning process employed is an age old tradition that requires skilled craftsmen to produce and dye the leather.

Most importantly, vegetable tanned leather is environmentally friendly and can be recycled easily, since no harsh chemicals are used. Other material options for the G4 rear cover include pure Ceramic White with 3D patterns, artisan-forged Metallic Gray as well lustrous, Shiny Gold.

The fashionable elegance of the LG G4 is a refreshing change from the uniformly flat, full metal designs that have been become standard across the industry. The LG G4’s design is defined by the Slim Arc, which runs along its entire body, highlighted by a display with a subtle curvature.

More than just a design accent, Slim Arc offers 20 percent better durability than a flat smartphone in face-down drops and gives the smartphone a more comfortable and secure feel in the hand.
Great Visual Experience

LG designed the 16MP camera in the LG G4 to capture beautiful images, even under less than ideal lighting conditions, among other interesting features and devices.

APPLE
iStore and iStore Online is an Apple Authorized Reseller (AAR), providing a dedicated hub for for consumers to purchase Apple products and accessories.

With a recent partnership with Jumia to take the Apple experience online, iStore and iStore Online is the most reliable Apple Authorised Reseller in Nigeria.

iStore Online aims to maximise customer value offerings by providing an authentic Apple experience and offering online customers exclusive offline services such as in-store complimentary training, technical support, and technical set-up.

As Apple Authorized Resellers, buying from iStore and iStore Online gives customers the peace of mind that they are buying the real thing and not buying fake, stolen or grey Apple products.

This means, ‎customers will get the most out of their investment; ‎customers are helping in the fight against fraud and criminal activity; ‎all authentic Apple devices carry the 1-year Apple warranty and ‎customers will receive free in-store training and technical support.

iStore and iStore Online share Jumia’s vision of offering customers premium devices at great savings.

Jumia Mobile Week offers consumers the opportunity to share the Apple experience with via a fantastic online platform.


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Telecom

Dimension Data Nigeria Secures ₦20Billion Funding to Strengthen Digital Infrastructure

Published

on

Kindly share this post

Dimension Data Nigeria has raised ₦20 billion (approximately $13.7 million) through a bond programme under Dimension Data SPV Funding Plc, following approval from the Securities and Exchange Commission of Nigeria.

This initiative aims to strengthen Nigeria’s digital infrastructure by addressing gaps in fibre coverage, limited enterprise connectivity, and increasing demand for cloud, fintech, digital services, and Artificial Intelligence.

The integrated IT solutions provider stated that the capital will be used to fund long-term investments in expanding network capacity, enhancing resilience, and supporting carrier-grade and enterprise services as data consumption continues to accelerate nationwide.

Speaking at a documentation and regulatory clearances event in Lagos, managing director, Gbenga Olabiyi, said sustained infrastructure investment is critical to maintaining competitiveness and enabling future growth.

He noted that strategic upgrades would help future-proof operations, reduce service disruptions, and allow the company to scale efficiently as business and consumer demand for cloud, fintech, and other digital services intensifies.

The bond programme is backed by private equity firm Mbavaa Partners Limited, whose managing partner, Shatse Kakwagh, described the transaction as a milestone that unlocks long-term capital for expansion.

He highlighted that strong ratings and an oversubscribed first issuance show investor confidence in Dimension Data’s execution and growth potential.

The fundraising comes as Nigeria confronts persistent infrastructure gaps, including limited metro and last-mile fibre coverage and rising enterprise connectivity needs.

Government intends to deploy 90,000 kilometres of fibre nationwide under Project Bridge aim to expand internet penetration and lower access costs.

 


Kindly share this post
Continue Reading

Telecom

MTN Nigeria Posts Record N1.70 Trillion Pre‑Tax Profit, Declares N20 Dividend for 2025

Published

on

Kindly share this post

MTN Nigeria Communications Plc has recorded a landmark turnaround in 2025, posting a pre‑tax profit of N1.70 trillion, reversing a loss of N550.3 billion in 2024 as the company emerged from a rough patch driven largely by foreign exchange volatility.

MTN Nigeria Posts Record N1.70 Trillion Pre‑Tax Profit, Declares N20 Dividend for 2025

MTN Nigeria

The telecom giant said the performance reflects a “significant turning point” in its corporate and financial trajectory, underpinned by improved macroeconomic conditions, strong service‑revenue growth, and tightening operational efficiency.

Profitability, Revenue, and Dividend

For the full year 2025, MTN Nigeria reported profit after tax of N1.11 trillion, compared with a loss after tax of N400.4 billion in 2024, while earnings per share rose to N53.07 from a negative N19.05 a year earlier.

Total revenue grew 54.9% year‑on‑year to N5.20 trillion, with service revenue up 55.1% to N5.17 trillion, driven mainly by data, voice, and fintech services.

The company’s board proposed a final cash dividend of N15 per share, bringing the total dividend for the 2025 financial year to N20 per share. Dividends will be paid electronically to shareholders on the register as of April 8, 2026, subject to completed e‑dividend mandates.

This payout is one of the largest single‑year dividends in Nigerian corporate history, signalling strong cash‑flow generation and management confidence in the company’s earnings quality.

Fourth‑Quarter Momentum and Customer Base

MTN Nigeria’s fourth‑quarter performance was particularly robust, with pre‑tax profit surging 248.8% year‑on‑year to N569.6 billion, compared with N163.3 billion in Q4 2024.

The company’s mobile subscriber base reached 87.3 million at year‑end, up 7.9% from the previous year, reinforcing its position as Nigeria’s largest telecom operator by subscribers.

Active data users grew by 11.6% to 53.2 million, and smartphone penetration rose to 66.1%, reflecting the deepening shift toward data‑driven services and digital lifestyles among Nigerians.

Data, Fintech, and Voice Growth

Data was the biggest growth driver, with data revenue up 74.5% to N2.78 trillion and data traffic increasing 34.0%, amid rising demand for mobile broadband and video streaming.

Voice revenue also climbed strongly, rising 42.1% to N1.85 trillion as tariffs and usage patterns adjusted to more stable exchange‑rate conditions.

Fintech revenue surged 79.7% to N191.3 billion, underscoring the rapid expansion of MTN Nigeria’s mobile money ecosystem and the growing role of digital financial inclusion in the country’s economy.

Cost Management and EBITDA Leap

Operating leverage improved markedly, with cost of sales rising 30.3% and operating expenses up 16.7%, both growth rates below the 55% revenue expansion.

EBITDA jumped 108.9% to N2.74 trillion, lifting the company’s EBITDA margin into the mid‑to‑high 50% range, ahead of its prior guidance.

Management attributed the improvement to a more stable foreign‑exchange market, moderated inflation, and sustained demand for data and digital services, as well as disciplined cost control.

FX Recovery and Capital Expenditure

Foreign exchange performance was a major swing factor: MTN Nigeria recorded a net FX gain of N90.3 billion in 2025, compared with a N925.4 billion FX loss in 2024.

The turnaround followed settlement of outstanding letters of credit and a deliberate reduction in dollar‑denominated exposure, which helped insulate earnings from earlier currency shocks.

Capital expenditure excluding leases rose 126.2% to N1.00 trillion, as the company invested heavily in network capacity, coverage, and digital infrastructure, including fibre rollout and 4G/LTE upgrades.

Despite the higher capex, free cash flow soared 215.5% to N1.2 trillion, indicating that the expansion is being funded internally without straining the balance sheet.

Balance Sheet and Shareholder Value

The company’s balance sheet strengthened materially, with total assets up 28.7% to N5.40 trillion and shareholders’ equity turning positive after several years in deficit.

Shareholders’ funds rose 219.8% to N548.7 billion, while retained earnings closed at N400.4 billion, compared with negative N607.5 billion in December 2024.

In the stock market, MTN Nigeria’s shares recently traded around N760, making it the most capitalised company on the Nigerian Exchange with a market valuation of about N16 trillion.

The stock has gained 33% in February 2026 alone, taking year‑to‑date returns to 49%, following a 155.5% rally in 2025, which investors see as a vote of confidence in the company’s turnaround story.

Outlook and Strategic Guidance

Management maintains a medium‑term service‑revenue growth guidance of at least low‑20% annually, underpinned by ongoing data and fintech expansion as well as gradual price adjustments.

The group has also revised its EBITDA margin guidance upward to the mid‑to‑high 50% range, signalling sustained profitability even as the company continues to invest in network and digital infrastructure.

Analysts note that MTN Nigeria’s 2025 performance not only restores investor confidence but also sets a benchmark for other Nigerian corporates navigating FX‑linked risks and regulatory uncertainty.


Kindly share this post
Continue Reading

Telecom

Alerzo Liquidates Delivery Fleet as N4.38bn Moniepoint Loan Row Deepens

Published

on

Kindly share this post

Nigerian B2B e‑commerce platform Alerzo is disposing of large parts of its delivery fleet, including buses, motorcycles, and operational vehicles, as it contends with a N4.38 billion debt owed to Moniepoint Microfinance Bank.

Alerzo Liquidates Delivery Fleet as N4.38bn Moniepoint Loan Row Deepens

Alerzo

Footage of the company’s facility in Ibadan, packed with dusty Alerzo‑branded motorcycles and buses, circulated on social media on Thursday, with a background voice inviting buyers to purchase the vehicles in bulk. The asset sale follows a Federal High Court order in Lagos that froze Alerzo’s accounts and assets after the company defaulted on a N5 billion working‑capital loan obtained in January 2025 from Moniepoint.

By December 2025, the outstanding balance on the loan reached N4.38 billion, with interest still accruing.

While Alerzo has not issued an official public statement, insiders close to the company attribute the business downturn to the harsh macroeconomic conditions in Nigeria, including rising fuel and logistics costs, inflation‑driven price pressures, and tight credit. “They tried their best. They did everything to stay afloat and keep several young Nigerians under their employment, but several economic factors were against them,” said a source close to the company.

Facing severe financial strain, Alerzo reportedly turned to Moniepoint in early 2025 for emergency funding to stabilise operations and maintain inventory supply to retailers. The facility was initially structured as an 18‑month loan, with a clause allowing Moniepoint to recall it immediately in case of default. Despite a demand letter issued on November 18, 2025, Alerzo allegedly failed to fully repay the debt, triggering the bank’s legal action.

In January 2026, the Federal High Court in Lagos granted Moniepoint Microfinance Bank Limited a Mareva injunction against Alerzo Limited and its associates, directing all financial institutions to freeze accounts and assets linked to the defendants pending the resolution of the case. The bank’s suit names Alerzo Limited, its Managing Director Adewale Opaleye Adesina, three guarantors – Opaleye Bukola Modinat, Dauda Hakeem Omotayo Taiwo, and the Singapore‑based Alerzo PTE Limited – as defendants. Court documents show that Alerzo sought the N5 billion facility through a board resolution dated January 20, 2025, to meet working capital and inventory supply needs.

Moniepoint argued that despite the demand notice, the defendants did not liquidate their obligation, leaving a N4.38 billion balance as of December 3, 2025. The bank also complained of difficulties in serving court processes on some guarantors at their known addresses, with the Singapore‑registered entity requiring substituted service via courier.

Alerzo’s Chief Executive Officer, Adewale Opaleye, has since clarified that the company is only selling scrap vehicles and not its core operational fleet. He stated that Alerzo still operates over 400 active delivery vehicles, and the sale of the idle and damaged units does not signify a full shutdown of logistics operations. According to Opaleye, the disposed assets were mainly old or non‑functional units withdrawn from service, and the exercise forms part of an internal asset‑optimisation drive unrelated to the Moniepoint loan dispute.

Founded as a B2B e‑commerce and distribution platform, Alerzo developed a network that supplied fast‑moving consumer goods directly to neighbourhood retailers, cutting out middlemen and promising lower prices, faster delivery, and improved stock efficiency for small shops. At its peak, the company raised about $20 million in venture funding and expanded across Lagos, Oyo, Ogun, and other southwestern states, employing hundreds of staff and building a large fleet of delivery vehicles.

However, the capital‑intensive logistics and low‑margin nature of the business began to weigh heavily on the balance sheet, especially as fuel, maintenance, driver salaries, and warehousing costs surged. By 2023, Alerzo had initiated layoffs to cut costs and restructure operations, reflecting the broader pressure on Nigerian startups that scaled up during the 2020–2022 venture‑capital boom but now struggle with tighter funding, higher operating costs, and slower growth.

Alerzo’s situation echoes wider challenges facing the Nigerian tech ecosystem, where several once‑promising startups have shut down or scaled back operations since 2023, underscoring the risks of high‑burn logistics models in a difficult macro environment and the need for tighter alignment between unit economics, funding runway, and real‑market conditions.


Kindly share this post
Continue Reading

Trending