E-Business
TradeDepot Secures Additional $10M to Transform Informal Retail Supply Chain in Nigeria

TradeDepot, the B2B eCommerce platform for consumer goods in Africa, has raised a further $10 million in a pre-Series B equity round co-led by Partech, International Finance Corporation, Women Entrepreneurs Finance Initiative (We-Fi) and MSA Capital. This is in addition to the $3 million Series A led by Partech in 2018.

TradeDepot will use the new investment to continue its integration of the fragmented informal retail supply chain in Nigeria, expand into other African cities and launch a suite of financial products and credit facilities, to support its retailers
Since its launch in 2016, TradeDepot has built a network of more than 40,000 micro retailers in Nigeria. Working with global distributors and manufacturers including Nestlé, Unilever, GB Foods and Danone, TradeDepot makes household supplies, such as milk, soap, detergent and other essentials more accessible and affordable for the informal urban retail networks it operates in.
Retailers order and pay for goods using TradeDepot’s mobile apps (Android and Whatsapp), USSD or a toll-free number and have them delivered directly to their stores via the company’s fleet of vans and tricycles.
They can also order stock and manage their inventory online, with a number of ways to pay, including digital payments and cash. For consumer goods brands, TradeDepot enables direct-to-retail distribution in the massive informal sector in some of Africa’s busiest cities.
TradeDepot also provides a CRM and data management system that enables suppliers to plan and monitor their sales routes in real time, as well as gain invaluable insights into trade and retail data.
Working with TradeDepot, retailers across Nigeria have increased their revenue and improved their business outcomes as a result of better access to products for their stores. One retailer grew the amount of sales transacted by more than 15x.
Another retailer who was barely breaking even and had seen no real growth in 15 years was able to increase her net monthly margin by almost 100 percent monthly, hire three new employees and is now considering expansion.
Using data and analytics to inform better retail decision making at each stage of the supply chain, TradeDepot has recorded considerable growth since its launch, activating a new store every three minutes, and receiving a retailer order every 4 seconds, on average. The company has also tripled its volume of trade in the last 12 months.
Onyekachi Izukanne, Chief Executive Officer and co-founder of TradeDepot says, “We are excited to strengthen our team and welcome on board some incredible strategic investors and partners, as we double down on our mission to digitize and simplify retail distribution for the continent. Africa’s offline retail market is estimated at $1 trillion, and this new investment allows us to capture an even greater segment of that market.
“We will continue to use data to drive efficiencies and provide an easier stock acquisition service for our 40,000+ retailers, driving down costs for them by negotiating even better deals with our global manufacturing partners, whilst simultaneously providing a better, faster route to market for our suppliers.”
In a bid to help retailers grow their businesses, TradeDepot is set to launch a suite of financial products and credit facilities. Many retailers do not have the collateral that banks demand but by leveraging their trading relationship with TradeDepot, retailers can access the funds they need to buy more goods, scale their businesses and generate more revenue.
Wale Ayeni, Head of Africa Venture Capital Investment at IFC adds, “TradeDepot is a rising star in the African internet landscape, helping digitize a substantial underserved informal retail segment, which is the pillar of economic growth in Africa. The founders’ vision to build a digital platform that improves the unit economics of serving the mass-market is one that we feel privileged to support.”
More than 75 percent of the retailers on TradeDepot’s platform are female entrepreneurs and TradeDepot will offer mentorship and opportunities to link with domestic and global markets, to further support its predominantly female customer base to grow and expand their own businesses.
Hanh Nam Nguyen, Program Manager, speaking on behalf of IFC as implementing partner of We-Fi, said, “Women play a pivotal role in driving economies across Africa, but lack of access to capital, limited market linkages, cultural norms and other challenges often prevent them from achieving the success they want.
“We-Fi financing will incentivize TradeDepot to build stronger women-led small and medium enterprises (SME) retailer and distributor networks, which will support them to become drivers of economic growth in their communities.”
Tidjane Dème, General Partner at Partech said, “we are proud to continue our partnership with TradeDepot as they continue their work to transform the huge informal markets that are present in Africa.
The founders have a wealth of experience that puts them in a great position to execute on their vision, and their approach and results to-date are why we are so excited by the extraordinary entrepreneurs harnessing the power of technology to address issues across the continent.”
Ben Harburg, Managing Partner at MSA Capital said, “TradeDepot is leading the digitization of informal enterprise across West Africa at the most critical touch point – the distribution and sale of essential foodstuffs by SME retailers – driving efficiency improvements, increased service offerings, and costs savings to both consumers and merchants.”
E-Business
Kaspersky Warns that Scammers are Exploiting World Cup 2026 Travellers

Kaspersky experts explain which online offers travellers should be cautious of when planning their trip, to avoid spoiling their experience ahead of the upcoming games.

Thousands of fans are expected to attend the World Cup 2026, and many are already handling their travel logistics, purchasing their flights and other transport tickets, booking accommodation, and arranging everything they need to reach the host cities. As interest grows, so does the number of fraudulent schemes that exploit the fact that fans are actively preparing for their upcoming journey.
In late April 2026, Kaspersky experts detected a campaign exploiting the branding of a well-known transport app, targeting users in Mexico. The interface of a fake Spanish-language website, impersonating one of the services, prompts users to enter their phone number and password in order to “claim prizes.” In reality, the attackers are mimicking a trusted brand and attempting to steal users’ credentials from those lured by the promise of a reward.
Some cybercriminals go “a level lower” and post their offers on the dark web. Kaspersky Digital Footprint Intelligence experts discovered a thread advertising such services, published on a shadow forum in March 2026.
The listings included offers for discounted airline tickets, hotel bookings, and match tickets, allegedly at 20% off the original price. These offers are designed to lure users and can be highly dangerous, ultimately resulting in victims losing both their money and any services they expected to receive.
Entrepreneurs and property owners also in the crosshairs
Cybercriminals are also targeting businesses and entrepreneurs at the intersection of the travel industry, which is also involved in the event. Given the high demand for short-term rentals during the tournament, property owners have become an attractive target for scams.
For example, a fake website was discovered requesting account credentials for a well-known platform. In this way, scammers attempt to gain access to property owner accounts, potentially resulting in unauthorised withdrawals and financial losses.
Another common scheme involves fraudsters attempting to extract money from organisations by posing as representatives of well-known airlines and offering fictitious business partnerships. In these emails, they claim to be launching new projects or business expansion initiatives and state that they are actively seeking suppliers or contractors.
If a company representative responds to such an offer, the scammers typically escalate the deception in a subsequent stage. To enhance credibility, they send forged documents for completion and signature, including supplier registration forms and non-disclosure agreements.
The ultimate objective of the fraudsters in this scheme is to induce the organisation to pay a so-called “deposit,” ostensibly required to secure a priority position in a partner selection list.
According to the claims made in the fraudulent communications, this payment would later be fully refunded once the partnership is formally established. In reality, this promise is entirely deceptive. The perpetrators simply appropriate the funds, and no reimbursement is ever made to the victim organisation.
“The travel sector, particularly when it intersects with major events, is a persistent target for a wide range of scams and fraudulent schemes. For end users, it is often difficult to distinguish at first sight between a legitimate website and a spoofed one, or between genuine marketing communications from a reputable service and scam emails.
“We therefore advise treating overly attractive offers with a high degree of caution in order to protect your personal data and financial resources,” says Anna Lazaricheva, senior spam analyst at Kaspersky.
E-Business
Meta Platforms Contributed $820m to Nigeria’s Economy in 2025 – Report

Meta’s family of platforms, including Facebook, Instagram and WhatsApp, contributed an estimated 820 million dollars in annual economic value to Nigeria in 2025, according to a new report released on Wednesday.

Meta
The report titled “Nigeria’s Digital Economy” was conducted by independent research firm, Public First, and commissioned by Meta.
It stated that 14 million Nigerian small and medium-scale enterprises (SMEs) used Meta platforms in 2025 to start, run and grow their businesses.
According to the report, the platforms contributed about two billion dollars to Nigeria’s Gross Domestic Product (GDP) while generating an estimated 640 million dollars in productivity gains through instant messaging services.
The report noted that 81 per cent of Nigerian businesses surveyed said Meta platforms had helped them expand their customer base beyond their local areas.
It added that the digital tools had reduced customer acquisition costs and enabled businesses in different parts of the country to access wider markets.
The report also highlighted the growing role of artificial intelligence (AI) in Nigeria’s economy, projecting that AI could contribute 22 billion dollars to the country’s GDP by 2035 under favourable conditions.
It stated that 87 per cent of online Nigerians surveyed believed AI products developed within Africa would play an important role in the continent’s economic growth.
Speaking on the findings, Meta’s Director of Public Policy for Sub-Saharan Africa, Balkissa Ide Siddo, described Nigeria as one of the world’s most entrepreneurial and digitally engaged markets.
According to her, Meta platforms are helping to remove traditional barriers to business growth and enabling entrepreneurs to access broader economic opportunities.
“From a tailor in Lagos reaching customers across the country through Instagram, to a small business owner in Kano taking orders on WhatsApp, to a creator in Abuja building a global audience on Facebook, Meta’s platforms are unlocking real economic opportunity,” she said.
Siddo noted that WhatsApp had become a major gateway for AI adoption in Nigeria and across Sub-Saharan Africa.
She added that 93 per cent of Meta AI prompts in the region were made through WhatsApp, indicating that many users were engaging with AI technologies through platforms they already use daily.
The report further stated that 93 per cent of online Nigerian adults surveyed said they felt more connected to wider communities through Meta’s applications.
Also speaking, Alison Neyle, Director at Public First, said the findings reflected the increasing role of digital platforms in supporting entrepreneurship and participation in Nigeria’s growing digital economy.
“Nigeria’s digital transformation is creating new opportunities for businesses, creators and consumers alike.
“With the right combination of infrastructure, platform access and open-source AI, the upside for Nigeria is significant,” Neyle said.
The report projected that Meta’s contribution to Nigeria’s economy could rise to two billion dollars annually as digital adoption deepens and internet access improves across the country.
E-Business
NITDA Unveils AI-Powered Government System That Tracks Workers, Flags Delays Automatically @ICSC 2026

Kashifu Inuwa, director general of the National Information Technology Development Agency, has called on public institutions and organisations to embrace Artificial Intelligence (AI) responsibly while prioritising human accountability, policy frameworks, and digital skills development.

Rep of DG NITDA, the Director, SMP Department, Dr Aristotle Onumo giving insights into effective public service delivery through digital transformation at the ICSC 2026
Speaking at the International Civil Service Conference 2026, held at the Eagles Square in Abuja, the NITDA boss who was represented by the Director, Stakeholder Management and Partnership department, Dr Aristotle Onumo, disclosed that the Agency has already begun implementing a comprehensive AI Transformation Plan designed to reposition the organisation for long-term institutional efficiency, continuity, and productivity.
According to him, the three-year transformation initiative is aimed at creating a digitally driven institution where operations can continue seamlessly regardless of personnel changes.
“In NITDA as an agency, we have what we call the AI Transformation Plan. It is a kind of three-year plan which we have put in place so that even if the current staff are replaced completely, new personnel should be able to interact with the system and continue work without hindrance,” he stated.
The DG explained that the Agency has already integrated AI into its internal workflow processes, particularly in document management and task tracking.
He noted that official documents submitted at the Agency’s premises are now scanned immediately at the gate and automatically routed by AI systems to the responsible officers based on identified keywords and subject areas.
He added that the AI infrastructure also monitors timelines and flags delays where officers fail to attend to official correspondence within stipulated periods.
“All that is required now is to drop documents at the gate. AI scans and routes them to the appropriate officers. If such documents are not treated within the required timeframe, the system flags them and reports accordingly,” he explained.
While acknowledging concerns surrounding AI adoption, particularly fears about job displacement, the NITDA DG stressed that the technology should be viewed as a tool for improving productivity rather than a threat to human relevance.
“There is always this fear that AI is coming to take away jobs, especially in the public service. But I want to state clearly that the jobs of people who refuse to upskill themselves may eventually be affected. However, those willing to retrain and adapt will benefit immensely from AI,” he said.
To address workforce transition concerns, he revealed that NITDA has commenced agency-wide AI capacity building programmes for all staff members.
According to him, employees whose traditional roles are being transformed by automation are being reassigned and redesignated into emerging AI-related functions.
“We have ensured that everyone undergoes AI training. Those who previously handled manual file operations have now been redesignated as AI assistants and AI administrators. We are preparing our workforce for the future rather than replacing them,” he noted.
The DG further emphasised the importance of maintaining human oversight in AI deployment, warning against the complete removal of human intelligence and accountability from governance systems.
“You must not take away human monitoring and accountability in any AI implementation process. At the end of the day, someone must remain accountable,” he cautioned.
Speaking on governance and regulation, the NITDA boss called for all Ministries, Departments and Agencies (MDAs) to develop internal AI policies capable of defining clear operational boundaries for the technology.
According to him, government deployment of AI differs significantly from private sector usage because public institutions must bear responsibility for any AI-related failures or ethical breaches.
He stressed the need for robust governance frameworks to guide responsible AI use, protect citizens’ rights, and ensure compliance with data protection regulations.
“We must ensure that whatever we use AI for aligns with data protection regulations and responsible use principles. Without proper frameworks, data misuse could become more prevalent and destructive,” he warned.
The NITDA DG also highlighted the Agency’s broader efforts to drive national AI adoption following the development of Nigeria’s National AI Strategy, which he described as one of the country’s most forward-looking digital policy documents.
He stated that NITDA is currently using the Agency as a practical AI sandbox to test implementation models before wider deployment across the public service ecosystem.
As part of efforts to deepen digital capacity across government institutions, he disclosed that NITDA is collaborating with the Office of the Head of Civil Service of the Federation to train civil servants in digital literacy and AI-related competencies.
He reiterated that the future workforce must embrace continuous learning and adaptability to remain relevant in an increasingly AI-driven world.
“AI has not come to replace people completely. But those who refuse to develop their skills may struggle to fit into the evolving technology ecosystem,” he concluded.
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