E-Business
Jumia Maintains 12% Gross Profit Increase YoY in Q4 Report

Africa’s leading ecommerce platform, Jumia has reported gross profit of €27.9 million, translating to a year-over-year increase of 12% in its 2020 Q4 and full year report released on Wednesday. The report by the pan African etailer showed that Gross Profit after Fulfillment Expense reached a record of €8.4m.

According to the company, business mix rebalancing, alongside enhanced promotional discipline, was a meaningful driver of economic improvement experienced throughout 2020, as the brand continues its progress towards profitability.
“While 2020 has been a challenging year operationally with COVID-19 related supply and logistics disruption, it has been a transformative one for our economic model, as we firmly put the business on track towards breakeven .
“We continued to make significant strides towards profitability during the fourth quarter of 2020. Gross Profit after Fulfillment expense reached a record €8.4 million during the quarter.
“In parallel, efficiencies across the full cost structure allowed us to decrease Fulfillment, Sales & Advertising and General & Administrative expenses (excluding share-based compensation) by 18%, 34% and 36% respectively, year-over-year.
“As a result, Adjusted EBITDA loss contracted by 47% year-over-year, reaching €28.3 million. In addition, we raised approximately €203 million in a primary offering in December 2020,” commented Jeremy Hodara and Sacha Poignonnec, Co-Chief Executive Officers of Jumia.
As contained in the report, Total Payment Volume on JumiaPay reached €59.3 million, increasing by 30% year-over-year. On-platform TPV penetration increased from 15.6% of GMV in the fourth quarter of 2019 to 25.7% of GMV in the fourth quarter of 2020.
JumiaPay Transactions increased by 10% from 2.4 million in the fourth quarter of 2019 to 2.7 million in the fourth quarter of 2020. Overall, the report showed that 33.1% of orders placed on the Jumia platform in the fourth quarter of 2020 were paid for using JumiaPay.
Jumia’s annual active consumers reached 6.8 million in the fourth quarter of 2020, up 12% year-over-year with continued growth in both new and returning customers. This cascaded to increased sales on the platform, as Jumia’s 2020 Black Friday sales records surpassed that of the previous year.
The platform recorded 1.5 billion page views, up 34% when compared to 2019, while video content registered almost 100 million views, 3 times higher compared to the 2019 event. The report showed that more than 41,500 sellers participated in the 2020 event, with the top 20 sellers registering 141% growth in items sold in the 2020 Black Fridays compared to the same period in 2019.
The brand also recorded impressive figures on platform monetization. As contained in the report, Jumia Logistic service which was opened to third parties in 2020, shipped almost half a million packages on behalf of more than 270 clients.
According to the report, Jumia is also making meaningful progress in the reduction of the overall rate of Cancellations, Failed Deliveries and Returns (CFDR). “The CFDR rate as a percentage of GMV improved from 30% in 2019 to 25% in 2020. The CFDR rate as a percentage of Orders improved from 22% in 2019 to 16% in 2020.
“The CFDR rate is typically lower when expressed as a percentage of Orders than GMV as higher average item value orders tend to show higher CFDR rates. As a result of the significant improvement in CFDR ratios, year-over-year trajectory of GMV and Orders after CFDR compares favorably vs pre CFDR.
“GMV was down 19% in 2020 while GMV after CFDR was down 12% and Orders increased by 5% while Orders after CFDR increased by 14% over the same period,” The report read.
The company also stated that General & Administrative expenses, excluding SBC, reached €21.8 million, down 36% on a year-over-year basis. This significant decrease was attributable to staff costs savings as a result of the portfolio optimization and headcount rationalization initiatives launched in the fourth quarter of 2019, alongside a decrease in professional fees, including legal expenses.
Jumia also reported operating loss of €40.0 million in the fourth quarter of 2020, while Adjusted EBITDA loss was €28.3 million, decreasing by 35% and 47% on a year-over-year basis respectively.
E-Business
Kaspersky Detected More than 92,000 Malware Attacks Disguised as AI Services in Four Months

In conjunction with its participation at the AI Everything Kenya x GITEX Kenya conference, global cybersecurity company, Kaspersky, has revealed that from January to the beginning of May 2026, Kaspersky solutions detected more than 92,000 attacks of malware and potentially unwanted applications worldwide disguised as popular Artificial Intelligence (AI) agents and AI services.

Cybercriminals exploited trusted brands to lure victims into downloading malicious files, with fake ChatGPT applications accounting for 49% of all detected attacks, while Claude and Gemini each represented 18%.
Since the beginning of the year, Kaspersky researchers have identified more than 15,000 samples of malware masquerading as agentic AI software, including fake versions of rapidly growing tools such as OpenClaw. Among these samples were banking trojans, spyware, exploits, and malware downloaders capable of deploying additional malicious payloads.
In May 2026, Kaspersky Global Research and Analysis Team also uncovered a new campaign linked to the Silver Fox advanced persistent threat (APT) group. In this operation, attackers distributed fake Claude AI applications for Windows, macOS, and Linux, targeting users seeking access to AI tools. Once launched, the malicious installers silently deployed malware onto victims’ devices, enabling long-term access to compromised systems and sensitive information.
“The introduction of AI agents into enterprise environments changes the nature of trust itself. Every automated action becomes part of a wider chain of systems and data exchanges, which means security is no longer just about protecting endpoints – it is about controlling how intelligence, permissions, and decisions propagate across interconnected AI-driven processes,” explains Dmitry Galov, Head of Russia and CIS units at Kaspersky Global Research and Analysis Team.
“Users should also keep in mind that attackers are actively leveraging popular AI services as a lure to steal victims’ confidential data and funds. Taking into account the evolution of modern threat landscape, reliable security solutions are becoming an essential part of digital life.”
Kaspersky recommends organisations to protect corporate infrastructure against a wide range of threats by using solutions such as from the Kaspersky Next product line that provide real-time protection, threat visibility, investigation and advanced response capabilities.
If a company lacks cybersecurity personnel, it can adopt managed security services such as Kaspersky Managed Detection and Response (MDR) and / or Incident Response that covers the entire incident management cycle – from threat identification to continuous protection and remediation.
Organisations should also equip their cybersecurity team with in-depth visibility into cyber threats targeting the organisation. For example, the latest Kaspersky Threat Intelligence delivers rich, contextual insights throughout the entire incident management cycle, enabling timely identification of cyber risks. AI-powered open-source intelligence search enhances cybersecurity teams’ ability to uncover and respond to emerging threats with greater precision.
Individual users are advised to stick to AI services from reputable companies with strong privacy and security track records. Avoid using anonymous or unknown bots that could be designed to harvest data. Malicious or fake AI bots may attempt to extract personal information to commit fraud, phishing, or blackmail. To protect your data, use a security solution to prevent visits to phishing sites and stop malware installation.
E-Business
Identy.io, US Firm Eyes 1Bn Biometric Verification Transactions in Nigeria

Identy.io, a United States-based cybersecurity and mobile biometric authentication company, has announced plans to process one billion biometric identity verification transactions in Nigeria within the next few years as digital banking adoption continues to expand across the country.

The company said increasing demand for secure digital identity systems within the banking, telecommunications, and public sectors is creating fresh opportunities for biometric authentication solutions, especially as financial institutions strengthen compliance and anti-fraud measures.
Speaking at an executive roundtable on mobile biometric innovation in Lagos, Jesus Aragon, chief executive officer, Identy.io, said Nigeria’s fast-growing digital financial services sector requires more reliable and scalable identity verification technology to support customer onboarding and transaction security.
He explained that the company’s mobile biometric solution enables users to verify their identities directly from their smartphones without depending on physical scanners, external devices, or centralized processing infrastructure.
The technology supports fingerprint and facial verification while functioning effectively in areas with limited internet connectivity.
According to Aragon, the platform is designed to integrate with Nigeria’s Bank Verification Number (BVN) system and the Nigeria Inter-Bank Settlement System (NIBSS), allowing financial institutions to carry out secure remote identity authentication.
He stated that the company’s technology includes liveness detection and deepfake identification features capable of detecting fake fingerprints, manipulated images, masks, and other fraudulent identity attempts during digital onboarding processes.
The Identy.io boss added that the company’s offline verification capability distinguishes it from several existing solutions in the market, noting that biometric authentication can be completed entirely on users’ mobile devices without constant internet access.
He further disclosed that biometric information captured during authentication remains on the user’s device instead of being transferred to external servers or centralized databases, reducing exposure to data breaches and cyberattacks.
Industry stakeholders at the roundtable also discussed the increasing pressure on Nigerian banks to improve customer verification processes following stricter regulatory directives by the Central Bank of Nigeria on Know Your Customer (KYC) compliance and fraud prevention.
Participants noted that agency banking operations in rural and low-connectivity locations continue to face security and onboarding challenges, creating demand for stronger and more flexible authentication systems.
Aragon maintained that biometric authentication could significantly reduce fraud associated with passwords and one-time passwords (OTPs), stressing that biometrics provide stronger identity assurance for financial transactions.
The company also confirmed that it has expanded its footprint across Africa, Latin America, and the United States, with operational presence already established in Nigeria and Kenya.
Aragon expressed confidence that Nigeria’s banking and telecom industries would generate massive biometric verification volumes in the coming years as financial inclusion and digital payment systems continue to deepen nationwide.
E-Business
TD Africa, HPE Drive Conversations on the Future of Intelligent Networking

TD Africa, in collaboration with Hewlett Packard Enterprise (HPE) Operated by Selectium, hosted a high-level partner engagement event on May 14, 2026, focused on emerging trends shaping the future of enterprise networking and infrastructure transformation.

TD Africa
The engagement brought together key partners to explore how organisations can build smarter, faster, and more secure network infrastructures capable of supporting today’s rapidly evolving digital economy. Central to the discussions was the growing relevance of WiFi 7 and the shift from traditional networking models to intelligent, AI-driven infrastructure ecosystems.
As businesses continue to accelerate digital transformation, conversations at the event centred on a critical question: Is your infrastructure ready for the speed of transformation? From edge-to-cloud connectivity and IoT integration to AI-enabled networking and advanced security frameworks, the session highlighted the increasing demand for agile, scalable, and resilient enterprise solutions.
Speaking at the event, Dr. Ifee Kojo, Country Manager, HPE Operated by Selectium, highlighted HPE’s commitment to helping organisations modernise their infrastructure and navigate the future of connectivity. “HPE is driving transformation across the entire technology ecosystem, from the data centre to the edge, from IoT to AI-powered connectivity.
“Our focus is on helping businesses strengthen security, improve scalability, and build intelligent infrastructures that support innovation and growth.
“Through our strong partner TD Africa, we can extend these solutions more effectively into the market, ensuring organisations have access to the right technologies needed to compete and thrive in a rapidly evolving digital world,” she said.
Also speaking, Chioma Chimere, Coordinating Managing Director at TD Africa, emphasised the importance of future-ready networking in enabling business resilience and long-term digital growth. “Networking today is no longer just about connectivity; it has become the backbone of enterprise transformation.
“As organisations embrace AI, cloud environments, remote operations, and data-driven systems, the need for secure, intelligent, and scalable infrastructure becomes even more critical.
“TD Africa is committed to ensuring our partners are equipped with the right technologies, insights, and support needed to navigate this shift successfully.
“Our collaboration with HPE reflects our shared commitment to helping businesses modernise confidently and prepare for the future of digital innovation,” she stated.
Through strategic collaborations with global Original Equipment Manufacturers (OEMs) like HPE, TD Africa continues to strengthen its position as a key distributor of enterprise and networking solutions across Africa, enabling partners and organisations to access cutting-edge technologies backed by technical expertise, market reach, and ecosystem support.
E-Financial2 days agoFG Says All Taxable Nigerian Must Obtain Taxpayer ID
News2 days agoFG Unveils Free Tax Dispute Resolution Platforms for Nigerians
News2 days agoEFCC Which Handles Sensitive Data, Financial Records has No Privacy Policy on Website- FiJ
E-Business2 days agoTD Africa, HPE Drive Conversations on the Future of Intelligent Networking
Telecom2 days agoRelief for SMEs as NACAN Launches Fight Against Expensive Broadband in Nigeria
E-Business2 days agoIdenty.io, US Firm Eyes 1Bn Biometric Verification Transactions in Nigeria
News2 days agoMoniepoint DreamDevs Bootcamp Second Cohort Set for Demo Day
General News2 days agoLagos Unveils Plan for 24-hour Electricity Supply in the State



















