E-Business
Jumia Nigeria Flaunts Achievements in 2014

The year 2014 has been a record breaking year for e-commerce and Jumia in Nigeria, and to end the year, the Jumia team released an infographic with facts, figures and records broken in 2014.
Since Jumia’s launch in 2012, the team has been committed to empowering Nigerians, building trust in online shopping and emerging as the online retailer of choice for Nigerians.
In 2014, in a move that further redefined the ecommerce industry in Nigeria, Jumia secured new rounds of investments in the initial sum of €120 million from MTN Group, Africa’s leading Telecommunications Company, a move that has been seen by many as the strongest alliance in Nigerian corporate circles.
This investment, among others made by existing shareholders, strengthened Jumia’s position as the leading online retailer in Africa. This saw the launch of the MTN ‘Be Better’ campaign.
“The Be Better campaign taps into the desire of Nigerians to live a better life for themselves and their families, looking at various facets of their lives. MTN therefore encourages Nigerians to enrich themselves with the power of information powered by the internet on their mobile devices. This way they can make better decisions, learn and do new things!” Bayo Adekanbi, CMO, MTN Nigeria.
Jumia and MTN also embarked on series of campaigns aimed at sensitizing their customers as to the amazing world of opportunities across both platforms.
The Jumia/MTN connectivity week, saw both brands storm the streets with an aim to bridge the gap between customers offline and the over 100,000 products available on Jumia as well as the amazing gadgets and services from MTN across Lagos, Ibadan and Ogun State.
To end what has been a remarkable year MTN launched the ‘Season of Surprises’ campaign, that had some lucky customers get amazing Jumia vouchers for their loved ones, talk about ending the year in style.
Speaking about the growth of Jumia in 2014, Nicolas Martin, Co-CEO Jumia Nigeria said; “This time last year, I said to all my staff that we will be 10 times bigger than what we currently are but interestingly, some of them found it really hard to believe. 2014 is over and guess what, we are over 10 times bigger. I am indeed not surprised, our customers have been all we have and we constantly work to provide them with service excellence making every trip to our store a shopping experience to remember”.
Jeremy Hodara, co-CEO of Africa Internet Group speaking about Jumia’s growth, MTN and other partners said; “We are very pleased to have been given this show of confidence, which acknowledges Jumia’s success. We consider this recognition of the huge potential of e-commerce in Africa and the strong momentum of Jumia across the continent.”
In 2012, Jumia started in a garage in Lagos, Nigeria.
Before long, the company had built up its own logistics infrastructure – a 90,000 square feet warehouse (largest of its kind in Western Africa) and its own fleet of drivers capable of delivering products all around 36 states in the country including the FCT.
In 2013, Jumia became the first African company to win an award at the World Online Retail Awards in Paris, where it was celebrated as the “Best New Retail Launch” of the year.
In 2014, with a commitment to its people and environment, Jumia was nominated at the same event for the ‘Best CSR initiative’ in partnership with the ‘1 Child, 1 Book’ initiative by the Tosin Jegede Foundation.
Bayo Adekanbi, CMO, MTN Nigeria added, “In 2014, we delved into several collaborations exploiting our synergy to best benefit of our customers. We look forward to doing even more in 2015 to further enrich our customers”.
Now, with operations in 10 countries, Jumia is the largest e-commerce company in Africa and has increased astronomically the amount of sales processed through its mobile and desktop applications in 2014, mobile responsible for 50% of that traffic.
With its marketplace platform for third-party merchants, Jumia is offering an entry point for many international and local brands/ SME’s who are looking to enter or grow their presence on the African continent.
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E-Business
Access Holdings, Coronation Partner Tate Modern to Spotlight Nigerian Modernism

Access Holdings Plc and Coronation Group have partnered with Tate Modern to commemorate World Art Day with a virtual session highlighting the global significance of Nigerian modernism.

Access Holdings
The event, titled “In Conversation with Osei Bonsu: Inside Nigerian Modernism,” featured a virtual tour of the Nigerian Modernism exhibition and discussions on the evolution of modern art in Nigeria.
The session brought together staff members across both organisations, reflecting growing institutional engagement with arts and culture as a driver of societal development.
Speaking at the event, Chief Communications and Marketing Officer of Coronation Group, Ngozi Akinyele, emphasised the role of art in shaping identity and national development.
She said that beyond financial capital, cultural and intellectual capital are essential in defining a nation’s prosperity and inspiring dialogue.
Akinyele noted that both organisations were committed to democratising access to art, ensuring it is accessible to a wider audience rather than a select few.
The discussion also featured insights from Tate Modern Curator, Osei Bonsu, and art expert Daniel Wallis, who examined the development of Nigerian modernism and its global relevance.
Bonsu said Nigerian modernism represents an independent reimagining of global art, rooted in the country’s diverse cultural heritage and expressed through unique visual languages.
According to him, the movement challenges narrow, Eurocentric definitions of modernism and highlights the richness of African artistic expression.
The session further underscored the growing international recognition of Nigerian art, particularly through exhibitions at Tate Modern.
Participants also reflected on the visit of Bola Ahmed Tinubu to the exhibition, described as a milestone in promoting Nigeria’s cultural heritage globally.
In his closing remarks, Chief Communications Officer of Access Holdings, Amaechi Okobi, reaffirmed the organisation’s commitment to advancing African narratives on the global stage.
He said the collaboration with Tate Modern aligns with broader efforts to promote dialogue, preserve cultural identity and support the creative sector.
The event reinforced a shared commitment by Access Holdings, Coronation Group and Tate Modern to elevate African art globally and ensure Nigerian cultural narratives continue to shape international conversations.
E-Business
NDPC Issues Critical Advisory as Hackers Target Nigeria’s Key Digital Systems

Nigeria Data Protection Commission (NDPC) has issued a regulatory advisory to data controllers and processors across the country following what it described as escalating threats to Nigeria’s data security architecture.

NDPC
In a statement signed by Babatunde Bamigboye, lead of Legal, Enforcement and Regulations, the commission said its technical assessment revealed that some shadowy threat actors were engaged in coordinated operations targeting financial systems and critical digital infrastructure in Nigeria.
The commission urged public institutions to comply with the presidential directive of Bola Ahmed Tinubu, which emphasises the strategic importance of data in national development.
According to the NDPC, the President had declared that “data is the new oil,” stressing the need for Ministries, Departments and Agencies (MDAs) to rigorously capture and safeguard information in line with the Nigeria Data Protection Act, 2023.
The commission therefore advised all data controllers and processors to urgently strengthen their technical and organisational measures to protect personal data and ensure compliance with the law.
It listed key measures to include the appointment of trained and certified Data Protection Officers, implementation of comprehensive privacy policies and information security standards, as well as conducting Data Privacy Impact Assessments.
Other measures recommended by the NDPC include deployment of robust identity and access controls such as Multi-Factor Authentication, adoption of zero-trust security architecture, prompt remediation of system vulnerabilities, and continuous patch management.
The commission also emphasised the need to secure cloud infrastructure, application programming interfaces (APIs), databases and access credentials, alongside real-time monitoring, logging and threat detection systems.
Further recommendations include encryption and secure credential handling, regular vulnerability assessment and penetration testing of critical systems, as well as routine backup and resilience testing.
The NDPC warned that organisations that fail to implement appropriate data protection measures in accordance with the Nigeria Data Protection Act, 2023 risk legal liabilities.
It reiterated its commitment to providing regulatory support to organisations while ensuring the protection of personal data and strengthening institutional resilience across all sectors.
E-Business
Africa’s Forex Market in 2026: Key Trends Every Trader Should Watch

The forex market across Africa is witnessing more participants and more regulatory attention than it did just a few years ago. This growth is part of a bigger picture: Sub-Saharan Africa is expected to expand by 4.3% in 2026, while global forex turnover already hit an estimated $9.6 trillion daily in April 2025. However, there’s more to it than macroeconomic figures.

The trends reshaping the market are happening from within. Here are six worth paying close attention to.
1. Trading Has Moved to the Phone
The number of people accessing the market via mobile phones exceeds those accessing it via traditional bank systems. GSMA states that in Sub-Saharan Africa alone, there are more than 1.1 billion registered mobile money accounts.
The International Monetary Fund states that digitalisation and increased usage of the internet are changing payment systems in the Sub-Saharan Africa region.
Mobile access changes traders’ behavior. It lowers the barrier to entry and speeds up deposits and withdrawals. Therefore, brokers who can provide a quality mobile trading experience will have a huge advantage.
2. Regulators Are Watching
The market is becoming more structured and more transparent. In South Africa, the FSCA regulates market conduct for financial institutions. In Kenya, the Capital Markets Authority regulates capital markets and maintains a licensing system that includes online forex brokers.
Nigeria’s SEC has publicly warned that online retail forex trading can be subject to abuse when unregulated. It also provides tools for investors to check operators’ registrations.
As a result, in 2026, more traders are likely to favour brokers that can show clear licensing, transparent operations, and stronger investor safeguards.
3. Volatility Varies by Country
A common mistake is perceiving the African market as one entity. In reality, according to RegTech Afrika, there are 21 countries out of a total of 54 that have a chance of seeing their currencies depreciate in 2025, with some of them losing value by as much as 6% or more.
A trader watching the rand, naira, shilling, or cedi, regional headlines needs more than regional headlines. Country-level macro data, central bank moves, and the US dollar will still play a major role.
4. Cross-Border Payment Infrastructure Is Quietly Improving
Platforms like PAPSS are helping make payments across African countries faster and easier to complete in local currencies. According to official announcements of PAPSS, it has become operational in 18 countries across Africa, with its latest launch in Algeria in 2025. It has also become operational in Kenya through a partnership with KCB Group, as well as in Rwanda through a partnership with Bank of Kigali.
Step by step, Africa is becoming a more financially connected continent.
5. Execution Quality Is the New Standard
Data from the BIS shows that in April 2025, three-quarters of FX trades were intermediated by the global centers of the United Kingdom, the United States, Singapore, and Hong Kong. Therefore, the best liquidity and best prices are still linked to global conditions.
For local markets, this raises the bar. Forex traders are becoming increasingly aware that tight spreads, while important, mean little without reliable prices and execution. Brokers like JustMarkets that can bring all of these elements together are in a much stronger position than competitors.
6. Education as a Necessity
Regulatory disclosures from major global brokers illustrate how tough it is to trade without proper knowledge. According to publicly available disclosures, between 70% and 80% of retail investor accounts lose money when trading CFDs.
Forex traders who understand risk management and which financial news to follow have a better chance of surviving the market. Brokers who invest in education are more likely to be seen by traders as valuable partners rather than mere facilitators.
The Market Rewards the Prepared
Africa’s forex market in 2026 is shaped by volatility, stricter rules, and mobile-first trading. The traders who combine market knowledge with the right tools and the right broker will find real opportunity here, while those who don’t adapt will find the market increasingly unforgiving.
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