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EnergyNet Power Summit Boosts Investors’ Confidence

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(L-r) Professor Chinedu Nebo, minister of Power, Scott Desmarais, partner, McKinseu & Company and Engineer Beks Dagogo-Jack, chairman, Presidential Task Force on Power, during EnergyNet Power Summit in Lagos
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Federal Government on Thursday said it was vigorously working on the measures that would ensure investors in economic development, especially in the power sector recoup their investment.
 
Professor Chinedu Nebo, minister of Power while delivering a keynote speech at a power summit organized by EnergyNet in Lagos, assured investors of recouping 35% return on their investment, provided the electricity consumers-industries, companies and the government experience appreciable power generation and distribution.

Nebo lamented the rot in the sector, before now. He said, for instance, for 16 years both the National Electric Power Authority (NEPA) and the Power Holding Company of Nigeria (PHCN) lacked the technical milieu to maintain the assets which led to wastages, damages and host of economic losses.

Unarguably, Nigeria witnessed the most problematic electricity sectors in the world, with an estimated installed electricity generation capacity of 8,644 MW, and available capacity of only approximately 3,718 MW, to cater for the needs of a population of over170 million; whereas, South Africa, with a population of less than 60 million has an installed electricity generation capacity of over 52,000 MW.

The minister cheered up the investors reiterating that the challenges are gains to be tapped into by the power investors’ community.

He extolled the Summit aimed at facilitating discussion between key stakeholders in the public and private sectors, in order to discuss ways to optimize energy opportunities in Africa, with the theme of ‘Maintaining Momentum in Nigeria’s Power Sector’.

On his part, Engineer Beks Dagogo-Jack, chairman, Presidential Task Force on Power, said, “Nigeria is working on the economic development and on advancing the power sector.  This will allow for the development of strategy around how to bolster development, and will also highlight best practices within the sector.  This, in the long term, will outline ways to maintain momentum in the power sector.”

Commenting on the Summit, Simon Gosling, managing director at EnergyNet, said, “The second annual Power Investors’ Summit helps to establish a platform through which interested parties can help raise equity and, in turn, attract funding from international investors. The year’s success can be attributed in part to the success of last year’s Summit.  We have held conferences in Istanbul, Mozambique, Tanzania, and Ethiopia amongst other countries.”

The 2013 Summit hosted investors across the entire power sector value chain, including, government officials and consultants.

This year’s conference featured segments from various experts in the power sector and focused on a vast range of topics, ranging from a discussion on the power transmission needs in Nigeria and the government’s outline for supporting system efficiency in power, to providing a snapshot of Nigeria in the post-privatization era and celebrating the power sector’s accomplishments.

The Power Investors Summit also featured a roundtable for senior level executives, which was aimed at discussing specific issues on finance and infrastructure investments in Nigeria.

This roundtable provided a forum for sector experts to identify and drill down on key issues and bottlenecks within the power sector.

The outcomes of the meeting were presented at the Ministerial Roundtable, which provided Nigeria’s senior economic advisors and financial leaders with an avenue for discussing the current state of Nigeria’s economy, and presenting their vision for Nigeria’s energy development leading up to 2020.

The Summit was hosted in conjunction with Nextier Capital Limited, an investment and advisory capital firm with expertise in the agriculture, petroleum, and power industries.

 


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Identy.io Targets Nigeria, Kenya in Its Africa Expansion Strategy

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Nigeria and Kenya are the next target markets for Identy.io, a global provider of digital identities, as it expands into Africa. Facial, fingerprint, and palm identification are among the safe, mobile biometrics that the company specialises in.

According to Indenty.io, its platform runs locally on smartphones, eliminating cloud storage while maintaining security and privacy.

It goes to say this is achieved by leveraging standard smartphones for fingerprint and face scans, the company aims to bridge the continent’s digital divide, where a significant number of adults still lack basic identification.

To spearhead this rollout, the firm has appointed a specialised regional leadership team, including industry veterans from Nigeria’s Bank Verification Number programme, to integrate their automated Biometric Identification System into national digital public infrastructure.

The company says the significance of this move lies in the departure from traditional, “clunky” biometric models.

Historically, digital ID enrollment in Sub-Saharan Africa has been throttled by the high cost of specialised scanners and the logistical nightmare of deploying them to rural areas.

Identy.io notes that its approach shifts the heavy lifting to mobile software.

Identy.io is positioning itself to capture a market the World Bank’s Identification for Development initiative identifies as critical for financial inclusion.

If successful, this could accelerate government-to-person payments and healthcare access in regions where coverage currently sits below 70%.

“We are transforming the traditional industry model, which often relies on expensive and inflexible digital infrastructure,” says Antony Vendhan, Co-founder of Identy.io. “This allows our clients to reach underserved communities by providing individuals with multimodal access to secure their digital identities.”

The company will face established players like IDEMIA and Thales, who have long dominated government contracts.

Furthermore, Identy.io will face competition from up-and-coming regional fintech identity firms such as Smile ID, which already has a significant presence in Know Your Customer services throughout Africa.

To gain an edge, Identy.io has aligned itself with Modular Open Source Identity Platform (MOSIP).

By being listed on the MOSIP marketplace, the company says its tech becomes “plug-and-play” for governments building open-source national ID systems, a growing trend among nations wary of “vendor lock-in.”

While the primary focus remains on Nigeria and Kenya, Identy.io’s long-term roadmap includes a phased rollout to other emerging markets.

 


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Russia Blocks WhatsApp, Pushes State App Max as Alternative Amid Telegram Clampdown

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Russia has confirmed the blocking of popular messaging platform WhatsApp, directing its citizens to switch to the state-backed Max messenger, in a move escalating restrictions on foreign digital services.

Russia Blocks WhatsApp, Pushes State App Max as Alternative Amid Telegram Clampdown

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The decision, announced by Kremlin spokesperson Dmitry Peskov on Thursday, stems from WhatsApp’s parent company Meta’s alleged failure to comply with Russian laws, though specifics were not disclosed. This action follows days after authorities intensified curbs on Telegram, another widely used app among millions, including military personnel, officials and state media.

Peskov described Max as “an affordable alternative on the market for citizens, a developing national messenger,” emphasising its role in replacing non-compliant foreign platforms. WhatsApp, owned by Meta—which also operates the already banned Facebook and Instagram—responded sharply, accusing Moscow of attempting a full block to force users onto a “state-owned surveillance app.” The company stated: “Trying to isolate over 100 million users from private and secure communication is a backwards step and can only lead to less safety for people in Russia,” vowing continued efforts to reconnect users.

The block is not isolated. Earlier this week, Roskomnadzor, Russia’s communications regulator, announced further restrictions on Telegram for refusing to remove “criminal and terrorist” content, throttling its performance nationwide. Telegram founder Pavel Durov countered that such pressures would not deter the platform’s commitment to “freedom of speech and privacy.” This builds on prior measures, including August 2025 restrictions on video and voice calls on both WhatsApp and Telegram to combat criminal activity, which WhatsApp then decried as access limits.

Max, developed by VK and launched in beta in March 2025, positions itself as a WeChat-like super-app with messaging, voice/video calls, group chats up to 1,000 users, cloud storage, end-to-end encryption for private chats, payments via Russia’s Faster Payment System, and integrations for government services and identity verification. Since September 2025, it has been pre-installed on all new smartphones, tablets and smart TVs sold in Russia, alongside the RuStore app store, as part of a broader “sovereign internet” strategy to monitor communications and replace Western tech amid geopolitical tensions.

Users report partial WhatsApp access via VPNs, but Russian authorities have ramped up countermeasures, restricting 439 VPN providers and enacting a September 2025 law banning ads for bypass tools while deeming VPN use an “aggravating circumstance” in crimes. Fines for individuals deliberately accessing blocked content via VPNs reach 5,000 rubles (about $64). Critics warn these steps enhance state surveillance, while state media insists Max requires fewer user data permissions than rivals.

The clampdown reflects Moscow’s long-running push for digital control, with over 60 percent of VPN users previously accessing banned social media. As Russia promotes domestic alternatives, the moves could reshape communication for its 100 million-plus messaging users, raising global concerns over privacy and internet freedom.


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Nigeria Market Powers Jumia’s Momentum as E-commerce Platform Demand Accelerates

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Nigeria powered Jumia Technologies AG’s strongest growth in 2025, cementing its position as the company’s most important market as rising consumer demand, SME activity and logistics expansion boosted performance across the e-commerce platform.

In the fourth quarter of 2025, Jumia’s Nigeria operations recorded a 50% year-on-year increase in Gross Merchandise Value (GMV) and a 33% rise in orders. The performance highlighted growing adoption of online shopping and Jumia’s increasing relevance to African consumers.

Nigeria’s momentum helped drive 36% year-on-year GMV growth and 34% revenue growth across the group in the quarter, alongside a 26% increase in quarterly active customers. Growth was supported by stronger customer retention and higher order frequency.

Beyond sales growth, Jumia said its Nigeria operations are delivering wider economic impact. The platform supports thousands of local SMEs, enabling them to reach customers nationwide, while continued investment in fulfilment centres and last-mile delivery is creating income opportunities for logistics partners and sales agents.

Efficiency gains were also evident. Fulfilment costs per order declined 12% year-on-year, contributing to a 39% reduction in operating losses and a 47% drop in adjusted EBITDA losses in the fourth quarter. Cash used in operating activities fell sharply to $1.7 million, compared with $26.5 million a year earlier, while liquidity stood at $77.8 million at year-end.

Temidayo Ojo, Chief Executive Officer of Jumia Nigeria, said the results reflect growing trust from consumers and businesses. “Nigeria is central to Jumia’s growth,” Ojo said. “Each order supports local sellers, delivery partners and jobs, while improving access to affordable products for consumers.”

For the full year, Jumia reported 14% GMV growth and 13% revenue growth, with losses narrowing significantly. Looking ahead, the company expects Nigeria to remain a key growth driver as it targets 27–32% GMV growth in 2026 and aims to reach adjusted EBITDA breakeven by the fourth quarter of 2026.

 


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