E-Business
Jumia Closes Shop in Tanzania, Days After Cameroon

Jumia has closed its e-commerce business in Tanzania, a market it entered five years ago.
This is just days after shutting down in Cameroon.
Jumia has suspended operations in Tanzania — in what looks like a continuation of a scaleback on Jumia’s e-commerce operations across Africa.
A said that Jumia has shut down its operations in Tanzania in order to focus resources on other markets.
The statement reads: “Based on our review of the path to success, we have made a difficult decision to cease our operations in Tanzania as of 27th Nov 2019.”
“While Tanzania has strong potential and we’re proud of the growth we’ve collectively seen stemming from Jumia’s adoption, we have to focus our resources on our other markets. This decision isn’t easy but will help put our focus and resources where they can bring the best value and help Jumia thrive.”
As was the case with Cameroon, the statement added that: “Jumia will continue to support buyers and vendors through our classifieds portal, previously called Jumia Deals, which will now be the main portal, jumia.tz. Thousands of buyers and vendors transact through this portal and we believe it will continue to become increasingly relevant in the future.”
With Cameroon and now, Tanzania, out of the picture, Jumia now has “e-commerce” presence in 12 African markets including Nigeria, Kenya, South Africa, Egypt, Ghana, Morocco, Uganda, Senegal, Rwanda, Ivory Coast, Tunisia, and Algeria.
And it is likely that Jumia would call it quits with e-commerce in a few other African markets as the e-commerce giant attempts to arrest a cash deluge that has seen it accrue almost USD 1 Bn in losses since starting things off in 2012.
The so-called Amazon of Africa appears to be seeking ways to cut its losses and make profitability more likely. And closing down its business in some of its “less attractive” markets has often been talked up as an option that is vital to the “cutting running costs” objective.
Jumia’s recently released Q3 2019 report shows that it is nowhere near profitability despite making a revenue of USD 44.2 Mn. And that’s because the losses keep rising. In the Q3 report, the loss stood USD 55 Mn; higher than the USD 45 Mn it lost during the same period in 2018.
Essentially, it’s now more about where and when Jumia is likely to close shop next than if the company is going to. And that’s because Jumia hinted it the Q3 report that it might have to scale back on e-commerce and explore a more promising fintech play, in an attempt to lift its beleaguered business which is also mired in a post-IPO mess.
E-Business
NITDA DG Reaffirms FG Commitment to Responsible and Inclusive AI

The Federal Government of Nigeria has reaffirmed its commitment to building a responsible, inclusive, and sovereign artificial intelligence ecosystem to enable Nigeria to transition from being a passive consumer of AI technologies to an architect and builder of indigenous AI systems.

This was said by the Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi CCIE, while delivering a virtual address at the InnovateAI Conference held in Lagos.
The conference brought together policymakers, technology leaders, innovators, and stakeholders to discuss the future of artificial intelligence and its role in driving Nigeria’s digital economy and national development agenda.
Inuwa outlined Nigeria’s ambition to transition from being a consumer of artificial intelligence technologies to becoming a builder and owner of AI systems that reflect national values and priorities, in line with the National AI Strategy.
“Our goal is not just to use AI, but to architect and build our own AI systems in Nigeria,” he said, stressing that the country must take ownership of its AI future.
He noted that Nigeria’s approach to artificial intelligence extends beyond innovation to include governance, infrastructure, data sovereignty, and policy evolution.
According to him, “Responsible AI is never a finished job; it is an iterative journey. Our policies must evolve as the technology evolves, and we must avoid frozen laws by adopting living policies that adapt over time.”
He cited the implementation of the Digital Economy and E-Governance Bill as a key mechanism for generating insights that will help refine AI regulations and governance frameworks.
Inuwa also highlighted the challenge of data representation in global AI systems, noting that most models are trained on non-African datasets, which often results in bias against local dialects, cultures, and demographics.
“If a model shows bias against a local dialect or demographic, we cannot just patch it. We must reinvest in infrastructure to retrain it with inclusive and representative local datasets,” he stated.
He added that building national AI infrastructure is critical to achieving data sovereignty and ensuring that Nigeria is not merely an end user of foreign AI systems.
He further called for strategic partnerships with global technology companies and hyperscalers to build AI infrastructure in Nigeria while aligning with local values and national priorities.
“The world today is a global village. We need to work with global players, but they must understand our local nuances and help us build the infrastructure to retrain and develop AI models that reflect our context,” he said.
The NITDA Director General explained that adopting a comprehensive AI lifecycle approach, from responsible data collection and governance to deployment and continuous feedback, will enable Nigeria to move from reacting to AI developments to proactively designing indigenous AI systems.
“Without understanding how AI models are trained, how decisions are made, and how models are retrained, it will be difficult to build a responsible and trustworthy AI system,” he warned.
He reaffirmed that the Federal Government is intentional about promoting responsible AI and is working closely with the technology ecosystem to co-design national AI guardrails. He described platforms such as the InnovateAI Conference and other national AI dialogues as critical to shaping Nigeria’s AI future.
E-Business
Mutual Benefits Assurance Settles ₦5.9bn Claims in January 2026

Mutual Benefits Assurance, a leading Nigerian insurance company, has paid a total of ₦5,937,665,353.57 in claims to policyholders in January 2026 alone, underlining its strong financial capacity and unwavering commitment to prompt claims settlement.

Mutual Benefits Assurance
A breakdown of the figures shows that ₦3,426,602,834.28 was paid under its General (Non-Life) Insurance portfolio, while ₦2,511,062,519.29 was paid across its Life businesses, including Group Life and Retail Life policies.
The significant payout within a single month reinforces Mutual Benefits’ reputation as a dependable insurer that honors its obligations swiftly and responsibly.
Commenting on the development, Olufemi Asenuga, Managing Director, Mutual Benefits Assurance Plc stated that claims settlement remains the core promise of insurance and the ultimate test of an insurer’s credibility.
“Insurance is built on trust. Our ability to settle over ₦5.9 billion in claims in one month demonstrates not only our financial strength, but also our deep commitment to our policyholders. At Mutual Benefits, we do not just sell policies. We stand by our promises,” he said.
With over three decades of operations, Mutual Benefits has consistently positioned itself as a strong and well-capitalised insurer.
The company operates both Life and General Insurance businesses and remains fully compliant with regulatory capital requirements as stipulated by the National Insurance Commission (NAICOM).
The January payout reflects Mutual Benefit’s robust underwriting standards, prudent risk management practices and efficient claims administration framework.
It also aligns with the company’s broader record of substantial claims settlement in recent years, reinforcing its standing as a trusted brand in the Nigerian insurance industry.
Mutual Benefits employs over 5,000 staff, managed by seasoned management team and an experienced Board of Directors. Industry observers note that prompt claims payment remains one of the most critical differentiators in Nigeria’s competitive insurance landscape.
By consistently settling valid claims without delay, Mutual Benefits continues to strengthen customer confidence, deepen market trust and expand its footprint across retail and corporate segments.
As the company begins 2026 on a strong footing, it reiterates its commitment to innovation, service excellence and delivering value to policyholders and stakeholders alike. Mutual Benefits Assurance focused on its mission to provide reliable risk protection solutions while maintaining the highest standards of professionalism and integrity.
E-Business
NITDA Warns Nigerians of Actively Exploited Microsoft Office Vulnerability

National Information Technology Development Agency (NITDA) has issued an urgent cybersecurity warning about a serious Microsoft Office vulnerability (CVE-2026-21509) that attackers are actively exploiting.

This advisory, shared through Nigeria’s Computer Emergency Response Team (CERRT.NG), highlights the risks of this flaw and recommends immediate action to protect systems.
Microsoft has released quick security updates to fix this vulnerability, which has a severity score of 7.8, showing it is a serious risk. Attackers have already used it in targeted attacks.
CVE-2026-21509 affects multiple versions of Microsoft Office, including Office 2016, Office 2019, Microsoft 365 Apps, Office 2021, and later versions.
This flaw allows attackers to bypass security features meant to stop harmful Object Linking and Embedding (OLE) controls. OLE is an older Microsoft technology that can be used to embed links or content, but it has often been exploited by malware.
By exploiting this flaw, attackers can create specially designed Office documents.
When a user opens these documents, they can run malicious code or gain further access to the system.
Exploitation requires user interaction, meaning attackers often trick people into opening harmful Word, Excel, or other Office documents. Common methods include using email attachments or files from untrusted sources.
Because Microsoft confirmed that the vulnerability is being actively exploited, they have made emergency security updates available outside their usual schedule. Users and organisations should:
- Install the latest Microsoft Office security updates for all affected versions.
- Restart Office applications for Office 2021 and later to ensure that the updates take effect.
- Use registry-based settings for protection if updates can’t be applied right away.
- Follow good cybersecurity practices, like using endpoint protection and filtering emails.
Microsoft’s updates for Office 2021 and newer versions are automatically applied, but need a restart of the applications to be active.
E-Financial2 days agoEcobank Nigeria Fully Repays $300m Eurobond Notes
E-Financial2 days agoZenith Bank Warns Public Over Fake Jim Ovia Investment Videos
General News1 day agoPalmPay Unveils First Batch of Winners in #LoveWithPalmPay Campaign
E-Business2 days agoChams Carves Out Subsidiary to Support Africa’s Digital Transformation
E-Financial2 days agoBoI Secures CBN’s Approval for Non-interest Banking Operation
E-Financial1 day agoFirstCap MD says Payment Security Remains Biggest Barrier to Bankable Gas and Power Projects
E-Business2 days agoNigeria, South Africa Drive Stablecoin Spending in Africa
Telecom2 days agoAfrica’s Active Data Centres’ Capacity on Back Foot, Despite Investment Push

















