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

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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.


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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

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AfDB Grants Project BRIDGE $200m Facility for Nationwide Internet Access

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African Development Bank (AfDB) has granted a $200 million loan to support Nigeria’s flagship digital infrastructure initiative, Project BRIDGE, which is designed to expand broadband access across the country.

AfDB Grants Project BRIDGE $200m Facility for Nationwide Internet Access

Project BRIDGE, is  a Special Purpose Vehicle (SPV) aimed at deploying at least 90,000 km of Fiber Optic cables as Nigeria’s core connectivity Infrastructure and national backbone for universal access to Information and Communication Technology (ICT) across Nigeria, under a Private-Public Partnership (PPP) funding model..

The initiative aims to expand Nigeria’s fibre backbone from roughly 30,000 kilometres to about 120,000 kilometres.

Its objectives include connecting all 774 local government areas and enhancing regional interconnection with neighbouring countries such as Benin, Niger, Chad, and Cameroon.

The project is attracting strong support from international development partners, with the World Bank having already pledged $500 million to the initiative, while the European Bank for Reconstruction and Development (EBRD) is also anticipated to participate in the programme’s execution.

The renewed inflow of funds reflects growing confidence in Nigeria’s digital infrastructure ambitions, particularly as broadband connectivity becomes ever more central to economic growth, job creation, and digital inclusion.

However, despite the fresh funding, the project remains in a heavy preparatory phase just as the Federal Government is spending $6.1 million on consultants covering transaction advisory, legal compliance, and technical planning.

“Procurement and advisory work suggest timelines will depend as much on regulatory alignment and project structuring as on capital availability,” the publication noted.

 


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Qualcomm Unveils Startup Selection for Qualcomm Make in Africa 2026

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Qualcomm Incorporated has announced the selection of 10 startups for its fourth year of the Qualcomm® Make in Africa Mentorship Program. This initiative is part of the Qualcomm Africa Innovation Platform, which supports the development of Africa’s deep-technology ecosystem.

It provides mentorship and training programs, with a focus on advanced connectivity and processing technologies such as Edge AI/ML, compute, IoT, and Qualcomm’s AI development platform from Arduino.

Highlights: 

  • At the program’s Finale, one startup will be awarded a Social Impact Fund grant from Qualcomm for Good.
  • All participating startups will be eligible for a $5,000 stipend upon successful completion of program requirements.
  • Qualcomm provides the startups with a variety of resources such as product design guidance on Arduino AI platforms, business coaching, access to engineering consultation, and free IP education such as L2Pro Africa.

For this year’s edition of the one-of-a-kind equity-free African mentorship program, 10 early-stage startups were chosen from a record number of over 1,200 applications from over 45 African countries, based on their ability to apply advanced connectivity and processing technologies to innovative end-to-end systems solutions. The industries represented by the startups include agriculture, assistive technology, smart cities and utilities, smart infrastructure, EV transportation, and education.

The 2026 cohort includes the following startups (listed in alphabetical order):

  • Amperra Charging Company (Namibia): AI‑driven, grid‑adaptive smart EV charging platform designed to enable scalable electric mobility across Africa
  • Anatsor Ltd (Nigeria): Integrated digital poultry management system that improves productivity, health tracking, and farm efficiency
  • D-Olivette Labs (Nigeria): Bio‑intelligence platform delivering data‑driven insights for sustainable and efficient agricultural production
  • Mindora Corporation (Zimbabwe): Braille keyboard solution that improves digital accessibility for visually impaired users
  • MVUTU (Republic of the Congo): Solar‑powered IoT cold storage solution that reduces post‑harvest losses for smallholder farmers
  • QualiKeeper Investments Ltd (Zambia): Affordable AIoT livestock monitoring system designed for low‑connectivity rural environments
  • SafeSip (Tanzania): Smart water access and monitoring solution that ensures safe, reliable drinking water in urban and peri‑urban areas
  • Sesi Technologies Ltd (Ghana): AI‑powered field device that enables early cocoa quality assessment and transparent supply chains
  • TWave Ltd (Uganda): Automated, solar‑powered fish feeding system that optimizes aquaculture productivity
  • Zerobionic (Kenya): Assistive robotics solutions designed to enhance inclusion and independence for persons with disabilities

“This year’s startups’ achievements are a powerful testament to Africa’s flourishing innovation ecosystem,” said Wassim Chourbaji, President, Middle East and Africa, and Senior Vice President, Government Affairs, Europe, Middle East and Africa at Qualcomm. “Four years into Qualcomm Make in Africa, what stands out is not only the growing number of applications we receive, but the increasing sophistication of the solutions being built.

These startups are pushing the boundaries of what technologies such as Edge AI and 5G can enable, and how they can be deployed at scale across the continent. Qualcomm is proud to support and help guide this next wave of African high-tech innovation, from early design and product development to real-world commercialization, and I look forward to seeing where these startups go next.”

Participants will receive free edge-AI capable platforms from Arduino, alongside 1:1 technical mentorship and business coaching. “Arduino® UNO™ Q and the upcoming Arduino® VENTUNO™ Q give the 2026 Qualcomm Make in Africa cohort a fast path from idea to intelligent machine,” said Fabio Violante, Vice President and General Manager of Arduino, Qualcomm Technologies Inc. “By bringing perception, decision-making, and actuation onto a single, affordable board, founders can prototype and deploy edge‑AI solutions directly where challenges exist — in farms, clinics, factories, and cities.”

They will also access engineering consultations for product development and guidance on protecting intellectual property. This includes patent filing consultation from Adams & Adams, Africa’s leading IP law firm, and free IP courses through L2Pro Africa– an IP e-learning platform designed to empower startups, SMEs, and researchers in Africa to protect, secure, and maximize their innovations.

At the end of the mentorship cycle, startups will be eligible for the Social Impact Fund through Qualcomm for Good, supporting societal and market impact through wireless technology. All participants will also receive a $5,000 stipend upon successful program completion. Finally, those who file patents during the program can claim up to $5,000 in filing fee reimbursements.

Reflecting the program’s relevance across the continent, the African Telecommunications Union (ATU) returns as a partner for the fourth consecutive year.  “The ATU’s key mandate is to ensure that Africa’s telecommunications ecosystem serves Africa’s people. Qualcomm Make in Africa embodies that same principle by putting cutting-edge technology directly in the hands of African innovators to solve African challenges.

Having seen firsthand the quality of the startups this program produces, returning as a partner in 2026 was not a question of if, but of how we could deepen our contribution. We look forward to seeing this cohort carry that work forward,” said Secretary General John Omo.

 


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Nigeria Seeks Stronger Digital Sovereignty, National Software Infrastructure

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Nigeria is intensifying efforts to strengthen its national software infrastructure and digital governance framework as part of a broader push to secure data sovereignty and build local technological capacity.

The initiative is focused on developing high-standard regulatory policies that will enhance digital integration while ensuring that critical national systems remain under domestic control.

During an engagement with the management of Ericsson at the GITEX Africa in Morocco, Inuwa explained that Nigeria’s digital strategy is focused on safeguarding national interests and securing long-term technological independence, rather than aligning with global rivalries.

“We are building our national software infrastructure. We are coming up with very high-standard regulatory policies that will help us build capacity for digital software integration,” he said. “For me, it is not about politics. It is not about geo-tech politics. It is not about banning China. It is about how we, as a country, have control and are able to shape our digital future.”

He stressed that Nigeria is not pursuing an exclusionary approach toward global technology partners, but rather seeking balanced collaboration that ensures value creation within the country.

“We are not saying we are banning hyperscalers from coming. We want them to come, work with local partners, create value in Africa, and let us capture that value here,” he noted.

The NITDA DG drew parallels with global regulatory trends, pointing to frameworks such as the European Union’s Digital Markets Act, Digital Services Act, and Data Governance Act as examples of regions asserting digital sovereignty through structured policy environments.

He added that Nigeria’s approach aligns with the global shift toward treating digital infrastructure as critical national infrastructure, a move already supported by existing executive orders in the country.

“We already have an executive order that makes all digital infrastructure a national critical infrastructure,” he explained. “But building a fully sovereign digital system takes time. Even the EU did not achieve it overnight.”

A key priority of the policy direction, he said, is ensuring that data generated within Nigeria remains protected and that intellectual capacity and digital intelligence are developed locally rather than exported.

“We want to keep the intelligence in our country. We want to be part of creating value, not just receiving technology,” he said.

He also highlighted concerns about historical imbalances in global industrial development, noting that Africa has often contributed raw materials, labour, and data without fully benefiting from value-added industries.

“We don’t want a repeat of previous industrial revolutions where Africa was left behind. This time, it is about value creation and building our own digital offerings,” he added.

Discussions are also ongoing around data ownership frameworks, particularly in emerging technologies and industrial systems, where questions of who controls machine-generated data remain central to future regulation.

The government is expected to unveil clearer policy direction in the coming months as part of its broader national digital transformation agenda.

On the industry side, Ericsson reaffirmed its long standing involvement in Nigeria’s telecom sector. The company’s Director for Government and Policy Advocacy in Africa, Amos Haddebe, said Ericsson has operated in Nigeria for over five decades, supporting the country’s telecommunications evolution from 2G to 5G.

He noted that Ericsson continues to collaborate closely with operators such as MTN Group, as part of its commitment to advancing Nigeria’s digital transformation agenda.

Haddebe outlined four key pillars of a Memorandum of Understanding signed with the Nigerian government in October 2024, including the establishment of a joint innovation hub, a national hackathon, digital skills development programmes, and exchange of best practices.

He further revealed that the ongoing national hackathon, launched under the supervision of the Vice President, is already underway and will be integrated with broader innovation initiatives.

On broader industry concerns, Haddebe warned of rising competition in Africa’s telecoms space and urged governments to treat ICT infrastructure as a matter of national security. He advocated for a diversified vendor ecosystem to ensure resilience and safeguard critical systems.

The discussions highlight Nigeria’s increasing focus on digital sovereignty, strategic partnerships, and the development of a secure and competitive digital economy.


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