E-Business
Jumia Reports Strong Second Quarter 2019 Results

Jumia Technologies has announced its financial results for the quarter ended June 30, 2019.
Jeremy Hodara, co-CEOs of Jumia, in a statement released on Thursday said, “We continue to deliver on our financial strategy of generating strong growth of our topline drivers, while accelerating monetization, driving cost efficiencies and developing JumiaPay.
“During the second quarter of 2019, our GMV increased by 69% year-on-year and our Gross profit grew by 94%.
“Our Adjusted EBITDA loss as a percentage of GMV decreased by 562 basis points (5.62 percentage points) and our Operating loss, amounting to €66.7 million, decreased as a percentage of GMV by 148 basis points (1.48 percentage points)
“These results reflect our continued focus on offering a relevant and engaging online shopping and lifestyle destination for consumers, while providing our sellers with an attractive value proposition and a platform to grow their businesses.
“We remain focused on all aspects of our growth strategy, particularly JumiaPay, as we continue to drive its usage in our markets.”
Juliet Anammah, CEO, Jumia Nigeria, giving an insight on the business and financial records of the company, said that GMV increased this quarter by 69% compared to the second quarter of 2018, due to a variety of factors, including strong marketplace growth and robust consumer acquisition and re-engagement momentum.
She added that the number of Active Consumers at June 30, 2019 was 4.8 million, up from 3.2 million a year ago and 4.3 million at the end of the first quarter of 2019.
According to her, “These increases are a result of our continued focus on selection, price and convenience, as we strive to be the preferred online shopping destination for consumers in Africa for all their daily needs.
“During the second quarter of 2019, we continued to increase the assortment available on our platform and to engage with consumers through relevant local commercial campaigns such as our “Mobile Week” and “Ramadan” campaigns”
The company further stated that they are committed to development and scaling JumiaPay to other regions in Africa.
“JumiaPay remained a key focus area and it is now offered in six countries – Nigeria, Egypt, Ivory Coast, Ghana, Morocco and Kenya.
“Collectively, these six countries represented a combined population of almost 440 million people in 2018, according to data from the United Nations Population Division.
“We have also expanded the scope of JumiaPay beyond our physical goods marketplace.
“As of December 31, 2018, JumiaPay was only available within our physical goods marketplace.
“It is now also available within our on-demand services, Jumia Food, and hotel booking portals, Jumia Travel, in selected countries.
“Lastly, we continued to expand the range of financial and digital services available from third parties, powered by JumiaPay, offering our consumers an increasing range of relevant every day services.
“In Nigeria for instance, consumers can now access micro-loans offered by a local fintech startup, alongside event tickets offered by a local event ticketing provider.
“In Egypt, in the second quarter of 2019, we started distributing services from a local deals provider allowing consumers to purchase their vouchers on the Jumia platform, using JumiaPay”.
The company further revealed that their marketplace revenue increased by 89.7% in the second quarter of 2019 compared to the second quarter of 2018, on the back of strong revenue growth across all components of Marketplace revenue.
“Commissions, which are charged to our sellers, grew by 91.8%.Fulfillment, which are delivery fees charged to consumers, grew by 102.6%.
“Marketing & Advertising, which include performance marketing campaigns, or the placement of banners on our platform, grew by 489.5%.
“This strong growth was driven by an acceleration in brand marketing contributions, aimed at promoting the visibility of their products on our platform.
“Value Added Services, which include revenue from services charged to our sellers such as logistics services, packaging, or content creation, grew by 47.4%.
“First Party revenue increased by 39.2% in the second quarter of 2019 compared to the second quarter of 2018.
“We undertake our first party activity in an opportunistic manner to complement the breadth of product assortment on our platform, usually in areas where we see unmet consumer demand.
“Shifts in the mix between first party and marketplace activities trigger substantial variations in our Revenue as we record the full sales price net of returns as First Party revenue and only commissions and fees in the case of Marketplace revenue.
“Accordingly, we steer our operations not on the basis of our total Revenue, but rather on the basis of Gross profit, as changes between third-party and first-party sales mix are largely eliminated at the Gross profit level.
“Over time, it is our goal to reduce the proportion of first party activity in favor of third-party activity at group level. This strategy may however vary from quarter to quarter and from country to country”.
E-Business
Microsoft to Unveil Next-generation AI Chip in September

Microsoft is planning to unveil its new Maia 300 AI chip this fall, potentially as soon as next month, The Information reported on Monday, citing people with direct knowledge of the plans.

The company introduced its Maia AI chip in November 2023 but has lagged rivals such as Alphabet and Amazon in scaling up its in-house chip efforts as it seeks to reduce its reliance on Nvidia’s costly processors.
Google began recognizing revenue from direct sales of its custom AI chips, called Tensor Processing Units, in the quarter ended June, while Amazon has also seen growing adoption of its processors, including its Trainium chips.
Microsoft has been in talks with chipmaker TSMC to secure manufacturing capacity for more than 300,000 units of the chip for delivery in 2027, according to the report. It is also looking to significantly ramp up production and persuade major cloud customers such as Anthropic to adopt the chip.
Microsoft ultimately aims to secure capacity for more than 1 million Maia 300 chips, though component supplies and ongoing capacity negotiations with TSMC could constrain its plans, according to the report.
It unveiled its second-generation Maia 200 in January, built by TSMC using 3-nanometer technology.
Microsoft packed the chip with a significant amount of SRAM, a type of memory that can provide speed advantages for AI systems handling large numbers of user requests.
E-Business
X Replaces Revenue Sharing wit New Creator Rewards Programme

X has announced plans to discontinue its Revenue Sharing programme and introduce a new Original Content Rewards programme to reward creators for producing original content on the platform.

The social media company announced the changes at the weekend in a post on its X Creators handle, saying the new programme would reward creators who contribute original content.
“Today, we’re introducing the Original Content Rewards Program, a new way to reward creators who bring original ideas, expertise, reporting, creativity, and commentary to X,” the company said.
X said it would stop accepting new enrolments into the Revenue Sharing programme from Friday, while existing participants would continue earning until September 7, 2026.
“Starting today, we’re no longer accepting new enrollments into Revenue Sharing,” it said.
According to the company, existing Revenue Sharing participants will receive three final payouts, with two scheduled for August 14 and August 28, while the final payment for earnings accrued through September 7 is expected around September 11.
X said existing Revenue Sharing participants would begin getting access to apply for the new programme from September 8, subject to meeting its eligibility requirements.
The first payout under the Original Content Rewards programme will be made on August 28, 2026, while existing Revenue Sharing creators who enrol in the new programme from September 8 will receive their first payment on September 25.
Under the new programme, eligible creators will earn from qualified impressions generated by their original content, with payments made every two weeks.
X defined qualified impressions as unique impressions from Premium users on the Home Timeline feed, where at least 50 per cent of a post is visible.
On the other hand, “The following are excluded from qualified impressions: impressions from the same account counted more than once per post; paid, promoted, or artificially generated impressions; and fraudulent impressions,” it said.
To qualify, creators must be at least 18 years old, live in a country where the programme is available, maintain an account in good standing and have either a personal or vusiness account.
They must also subscribe to X Premium, Premium+ or Premium Business, have at least 500 verified followers and record at least 500,000 Home Timeline impressions from verified users within the previous 90 days.
X said creators must also regularly post original content to remain eligible.
“We want to recognize creators who break news, share expertise, tell stories, create entertainment, and contribute meaningful perspectives to the conversation,” the company said.
The platform said original content could include threads, videos, memes, graphics, illustrations, reporting, analysis, commentary and reactions that add meaningful value to existing conversations.
It said creators who use content produced by others would need to add meaningful commentary, context, analysis, humour or creative transformation for such posts to qualify.
“Building on existing conversations is a core part of X, but simply reposting someone else’s content is not enough,” it said.
X said minor edits such as cropping, filters, borders, watermarks, speed adjustments or simple text overlays would generally not qualify as meaningful transformation on their own.
It also warned that content copied or substantially reproduced from another creator, content downloaded and re-uploaded from X or another platform without being the original author’s, automated content, disinformation and misleading content would be ineligible.
The company said accounts that violate the programme’s requirements could be temporarily or permanently removed from it, depending on the severity of the violation.
It added that creators would be responsible for ensuring they had the necessary rights, permissions or licences to use content created by others.
“Original content is content you personally create that reflects your own voice, perspective, expertise, or creativity,” X said.
The company said the new programme was intended to reward creators who make the platform more valuable by bringing original ideas and perspectives to its conversations.
“The Original Content Rewards Program is designed to reward the creators who start them, shape them, and move them forward,” it said.
E-Business
NITDA Introduces Cloud Certification Boost Data Localisation Compliance

National Information Technology Development Agency (NITDA) has introduced so-called Nigeria’s Certified Cloud Register, regulatory framework developed under the agency’s National Sovereign Cloud Initiative to determine which cloud providers are authorized to handle sensitive data, such as banking records.

In effect, from October, NITDA requires banks, fintech companies and other regulated organisations to source cloud infrastructure providers from a national register of certified firms approved to host sensitive financial and government data.
The Certified Cloud Register, is expected to strengthen data sovereignty, improve regulatory oversight and support the implementation of the Central Bank of Nigeria’s (CBN) data localisation policy, which takes effect on January 1, 2027.
Under the framework, banks, fintechs, government institutions and other regulated entities will be able to verify whether cloud service providers, data centre operators, managed service providers and Artificial Intelligence (AI) infrastructure companies have met NITDA’s certification requirements before entrusting them with critical digital workloads.
The initiative is expected to provide regulated institutions with a standardised process for selecting cloud infrastructure providers that satisfy Nigeria’s technical, security and regulatory requirements.
According to NITDA, the framework establishes “a common national standard, an independent assessment process and a public register of approved providers that banks, fintechs and government institutions can rely on when selecting cloud infrastructure partners.”
The register is expected to become a key compliance tool ahead of the CBN’s directive, which requires all payment transaction data generated within Nigeria to be stored and processed locally, effective from January 1, 2027.
The policy applies to deposit money banks, microfinance banks, mobile money operators, payment service providers, switching companies and other financial institutions.
The certification regime is also expected to reshape Nigeria’s cloud computing ecosystem, making regulatory approval a major requirement for cloud providers seeking to handle sensitive data for regulated industries.
Figures cited by NITDA showed that Nigeria’s 10 largest banks spent about N177.91 billion on information technology in the first quarter of 2026, representing a 31 per cent increase over the corresponding period last year.
A sizeable portion of the investment currently supports cloud infrastructure hosted outside Nigeria, a trend the new certification framework is expected to address by encouraging greater utilisation of compliant local infrastructure.
NITDA said the certification programme will apply the same technical and regulatory standards to indigenous cloud providers and international hyperscale operators, creating a level playing field for all companies seeking to provide cloud services to regulated sectors.
The agency also disclosed that more than 85 per cent of Nigerian businesses currently rely on cloud services, with the majority using infrastructure hosted outside the country.
It said the new framework is aimed at improving confidence in Nigeria’s digital infrastructure while promoting local capacity and enhancing oversight of critical national data.
Speaking on the objective of the initiative, Kashifu Inuwa Abdullahi, director-general of NITDA, said the programme is designed to strengthen Nigeria’s position in the global digital economy rather than exclude foreign technology companies.
According to him, the initiative is intended “to redefine the terms under which Nigeria participates in the global digital economy rather than isolate the country from international technology providers.”
The Certified Cloud Register forms part of broader efforts by the Federal Government to deepen digital trust, strengthen cybersecurity and ensure that critical financial and public sector data are managed in line with Nigeria’s evolving data governance and sovereignty objectives.
Telecom1 day agoMTN Alerts Subscribers over Fake 25GB Anniversary MTN Data Giveaway
E-Business1 day agoX Replaces Revenue Sharing wit New Creator Rewards Programme
E-Financial1 day agoInterswitch, Temenos Commit to Advancing Nigeria’s Digital Banking Technology
General News1 day agoFake Agency: ICPC Indicts NITDA, Others over Inadequate Due Diligence
E-Financial1 day agoFG Spent N3.1 Trillion on Domestic Debt Servicing in Q1- DMO
General News1 day agoUNESCO Taps Oguamanam,Nigerian Scholar to Advisory Body on Science, Tech Ethics
General News1 day agoTax Reform Built on Taxing Prosperity, Not Poverty– Adedeji
Broadcasting1 day agoAwba-Ofemili Unveils 2026 Health Campaign, Offers Free Medical Screening



















