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Jumia, Konga Eye $1.5Bn, $3.2Bn from IPOs

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Jumia and Konga, two major players in the eCommerce market are creating visible excitement in the space with eye-catching listing of their shares on the international market.

 

Jumia is planning an initial public offering (IPO) in New York this year which will reportedly see the business valued at $1.5 billion.

Elsewhere, Konga, Nigeria’s biggest Omni- channel eCommerce group, is also reportedly set for a major listing on either the London Stock Exchange or New York Stock Exchange (NYSE) by the last quarter of 2020.

 

NigeriaCommunicationsWeek gathered that the Konga Group is set for an initial public offering that will see the eCommerce giant valued at about $3.2b, further shoring up the potential of the eCommerce industry in Nigeria, Africa’s biggest market.

 

Investigations reveal that Mark Jessey, a prominent stock analyst on NYSE had hinted of the strong possibility of a Konga IPO before the end of next year.

 

A move which, according to him, is a much sought-after one by investors, many of whom have followed within the last 8 months the huge strides and trajectory of the business which came under new ownership after the exit of previous majority investors, Naspers and AB Kinnevik.

 

While Jumia’s successful listing could help MTN reduce its debt which unconfirmed reports indicate to have increased to over five billion dollars in June from about $4.1b at the end of 2017, Konga’s imminent IPO is one that should see the business excite a horde of potential investors, going by the current standing of the company.

Commenting on the likely listing of Konga, Chris Uwaje, Africa chair for IEEE World Internet of Things (WIoT), noted that the company has added huge value to the e-commerce landscape which should see its value gross over $3.5b.

 

“Within the last seven months, I am aware that the new owners of Konga have repositioned the company strategically and upped the overall value of the business. Konga could claim to be unarguably the most structured e-Commerce company in Africa, with huge infrastructure and technology back-bone which is rare in Africa and which is the strength of global players such as Amazon and Alibaba.

 Chris Uwaje, Africa chair for World Forum on Internet of Things (IoTsChris Uwaje

In valuing Konga, you must consider its strategic 360 degrees Omni-channel strategy, their Central Bank of Nigeria-licensed mini bank – KongaPay which I am sure cannot be valued anything less than $750m and best in Africa digital logistics division known as Kxpress with a nationwide network. I know Konga is likely the only company that does about ninety percent of her long haul and last mile deliveries in the continent.

 

“In today’s investment climate, investors are investing strategically in quality companies that are owned by experienced and well tested local Entrepreneurs with global vision and I am sure you know Konga has all these qualities under one roof in addition to over thirty physical retail stores spread all over Nigeria and which also act as delivery, collection and payment centers, so they could ask for more than $5b for their sweat.”

 

Commenting further, Mr. Uwaje stated: “We have also seen the huge investment in massive warehouses across major cities such as Abuja, Enugu, Akwa-Ibom, Rivers State, Imo, Kano, Delta, just to mention a few, in addition to more than three mega structures in Lagos.  I am also aware that the company recently spent over N9b in acquiring a very huge warehouse in a high-brow area in Lagos in preparation for Artificial Intelligence and Robotics-driven warehousing.”

 

According to Uwaje, who doubles as director general, Delta Innovation Hub, Konga is an African eCommerce Unicorn whose impressive strategies and achievements within such a short period would be hard to replicate in the Nigerian e-Commerce space.

 

Chief executive officers of the Konga Group could not be reached for comments but a highly placed staff of the company disclosed that all management staff were in a lengthy strategy meeting and would hate to interrupt them.

 

 


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E-Business

Offset Communications Slams N50m Suit against Qore Technologies for Alleged Copyright Infringement

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Offset Communications Advisory Ltd has dragged Qore Technologies Ltd before a Federal High Court in Lagos, demanding the sum of N50 million as damages for the alleged infringement of its copyright.

Offset Communications Slams N50m Suit against Qore Technologies for Alleged Copyright Infringement

Pic credit….https://copyrightalliance.org

Offset, in the suit marked: FHC/L/CS/1994/2025, is claiming that Qore used content from a proposal it submitted in December 2022, without formal engagement, attribution, or a licensing agreement.

“The Defendant’s execution of the content of the proposal submitted to it by the Plaintiff without any formal engagement, attribution or a licensing arrangement… amounts to an infringement of the Plaintiff’s copyright,” Offset stated in its writ of summon.

The suit filed on September 29, 2025, by Jimoh Bamigbola and Omobolaji Idris, on behalf of the plaintiff has Qore as sole defendant.

Plaintiff, a Lagos-based communications firm, in its statement of claim said it a had previously worked with Qore on Public Relations (PR) projects and was later asked to prepare a communications strategy for the company, adding that the said proposal contained ideas on employee engagement, branding, and stakeholder management.

Offset however, alleged that Qore implemented elements of the proposal, including internal communication initiatives and branding concepts, without payment or agreement.

“The Defendant executed and integrated the propositions into its Public Relations and Communication Strategy without any formal engagement… with the Plaintiff,” the statement of claim read.

The plaintiff said it discovered the alleged infringement in April 2025 and subsequently notified the defendant, but efforts to resolve the dispute failed.

It is seeking, among other reliefs, a declaration that the defendant’s actions amount to copyright infringement, N50 million in general damages, N5 million in litigation costs, 29 percent post-judgment interest, and “an order of perpetual injunction, restraining the Defendant… from further infringing on the Plaintiff’s copyright.”

Qore Technologies, however, denied the allegations in its statement of defence, arguing that the plaintiff was only engaged for limited Public Relations support services on a project basis and was paid for those services.

“The Plaintiff merely provided routine and secondary Public Relations support services… for which the Plaintiff was remunerated,” the defendant stated.

Qore further argued that the ideas referenced by the plaintiff are not protected under copyright law.

“The alleged ‘ideas’… consist of generic corporate communication practices widely used by companies… and cannot constitute original copyrightable works under Nigerian law,” it said.

The company also maintained that no binding agreement existed regarding the proposal and that its branding and communication strategies were developed internally and by its consultants.

In addition, Qore challenged the competence of the suit, stating that “the Statement of Claim discloses no reasonable cause of action” and that the court lacks jurisdiction to entertain the matter.

The defendant also filed a counterclaim, seeking N6.35 million as reimbursement for legal fees incurred in defending the suit, as well as N2 million in costs.

At the hearing on March 23, 2026, counsel to the parties identified their processes, and the court adjourned the matter to June 22, 2026, for further proceedings.

The case is expected to test the boundaries of copyright protection in Nigeria’s Communications and Public Relations industry, particularly regarding the ownership of proposals and business ideas.


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FG to Strengthen Cybersecurity Coordination as NDPC Probes Alleged Data Breach

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Federal government has announced plans to deepen collaboration with private sector players and other stakeholders in a bid to strengthen Nigeria’s cybersecurity architecture and response systems.

FG to Strengthen Cybersecurity Coordination as NDPC Probes Alleged Data Breach

Bosun Tijani, minister of Communications, Innovation and Digital Economy, disclosed this in a recent press statement, noting that the government is considering the establishment of a Cybersecurity Coordination Council.

According to the minister, the proposed council is aimed at enhancing national cyber resilience and ensuring a more coordinated response to emerging cyber threats across public and private institutions.

Tijani emphasised that cybersecurity must be treated as a collective responsibility involving government, industry, and civil society.

“Cybersecurity is a shared national responsibility. Protecting Nigeria’s digital economy requires strong partnerships, trusted collaboration, and collective vigilance across government, industry, and civil society,” he said.

He added that through sustained collaboration, Nigeria would strengthen its capacity to detect cyber threats early, respond effectively, and build a resilient and trusted digital ecosystem.

The minister also called for increased stakeholder participation in shaping a sustainable, partnership-driven cybersecurity framework capable of deterring cybercriminal activities and safeguarding citizens, businesses, and critical digital infrastructure.

Meanwhile, the Nigeria Data Protection Commission (NDPC) has commenced an investigation into an alleged data breach involving Remita Payment Services Ltd., Sterling Bank, and other entities.

A statement on Sunday issued by Babatunde Bamigboye, head, Legal, Enforcement & Regulations, NDPC, said in line with the Commission’s procedure, Notice of Investigation was duly served on the 1st of April, 2026.

Bamigboye said relevant parties and individuals have been providing information for the purpose of addressing the incident.

“The aim of the investigation is to ensure that data subjects are protected with appropriate technical and organisational measures.

“The investigation by NDPC covers, among others, the types of personal data involved, the nature and scope of the alleged breach, the risk to data subjects and the mitigation measures carried out where a breach is confirmed,” he explained.

Vincent Olatunji, Commission’s National Commissioner/CEO, has directed that organisations that employ digital payment systems without putting in place appropriate technical and organisational measures as mandated under the Nigeria Data Protection Act, 2023 (NDP Act), will also be examined as part of a wider effort to ensure the integrity of the ecosystem.


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Nigeria Mulls National Cybersecurity Council

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Federal Government has unveiled plans to establish a National Cybersecurity Coordination Council, signaling a shift toward a more unified, intelligence-driven approach to defending the country’s rapidly expanding digital economy.

Conceived as a non-statutory, multi-stakeholder body, the proposed Council will enhance coordination, enable trusted information sharing, and guide government strategy on cybersecurity, risk management, and national response amid increasingly complex cyber threats.

The initiative, championed by Bosun Tijani, minister of communications, innovation and digital economy,  is designed to bring together government institutions, private sector players and technical experts into a single collaborative platform to strengthen the country’s cyber resilience.

Tijani noted that this initiative comes in response to a wave of recent cyber incidents that have disrupted operations across key private institutions and public sector.

In recent times, Nigeria’s financial system has faced mounting cyber pressure, reflecting global trends as cybercrime is projected to cost the world over $10.5 trillion annually, according to Cybersecurity Ventures.

Analysts say these attacks are increasingly coordinated and sophisticated, prompting the government to recognise that fragmented, institution-specific approaches can no longer manage systemic cyber risks effectively.

Under the new framework, the government aims to promote a “collective defence” model, an approach widely adopted in advanced digital economies where threat intelligence is shared in real time across institutions.

The Council is expected to include chief information security officers, cybersecurity associations, the Nigerian Computer Society, global technology providers, researchers, law enforcement agencies and civil society groups, ensuring a broad-based and technically grounded response architecture.

Key priorities will include developing national threat intelligence-sharing systems, harmonised cyber defence protocols, and coordinated incident response, while strengthening capacity to close Nigeria’s cybersecurity talent gap.

 


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