E-Business
Konga Makes List of Top 20 Brands to watch in 2020

The Management of e-commerce giant, Konga, has underlined its determination to continually take the lead in elevating standards, improving customer satisfaction and deepening the growth of the Nigerian e-commerce sector.
Making the assertion was Nick Imudia, co-chief executive officer, Konga Group.
Equally important, Imudia was reacting to the recent inclusion of Konga in an exclusive list of top 20 global brands to watch in 2020. Unarguably, the impressive leadership credentials and groundbreaking strides of Konga in the Nigerian retail sector since its acquisition by the Zinox Group in 2018, was further affirmed by its inclusion in the rarefied list.
Indeed, the Board of Editors of ThisDay Newspapers had identified Konga in a list of top 20 brands to watch in 2020 released in January.
The rating consisted of both local and international brands across banking, FastMoving Consumer Goods (FMCG), telecommunications, media, agriculture, software engineering, financial technology, among others.
Among the brands listed are Dangote, GTB, Facebook, Instagram, MTN Group, Globacom, Google, Zenith, Access Bank, Interswitch, Twitter, YouTube, Flutterwave, Paystack, Andela, Chivita, Indomie, Lake Rice, Wacot Rice and ARISE Play.
Konga was the only e-commerce brand that made its way into the list.
The report hailed Konga for growing the Nigerian e-commerce market with its novel omni-channel model fusing online shopping with brick- and-mortal stores, which has seen the brand becoming number one choice for consumers.Also, it took a look at some of the strategic investments made by the new owners of Konga, even as the Board explained that such investments would go a long way in shaping up the e-commerce space in 2020.
‘‘Konga, which was acquired by Zinox Group in January 2018, has contributed to the growth and sustainability of e-commerce in Nigeria,’’ the citation on Konga stated.
‘‘Two years down the line, Konga has maintained leadership position in Nigeria’s e-commerce space.
“One of the strides recorded is the roll out of brick-and-mortar stores in various Nigerian cities, which have grown its physical store presence to more than 30 nationwide.
‘‘Today, Konga is nearest to the customers as a result of its ubiquitous physical stores which dot Nigeria’s landscape.
“Interestingly, these stores also serve a very important dual function; not only as ordering centres but equally as fulfillment centres where customers can pay and collect their items, including those ordered online.
“Having invested in critical infrastructure with the set-up of major regional warehousing facilities, Konga is set to shape the e-commerce industry in 2020.’’
Reacting to the development, Imudia expressed his delight at the rating which he described as well-deserved.
Further, Imudia revealed that the entire management and staff of Konga is further encouraged by the high expectations placed on Konga by the unbiased judgement of the assessors.
According to him, Konga has no reason not to perform beyond expectations in 2020, even as he disclosed that the company has lined up a suite of exciting initiatives which will thrill the market.
“We are delighted by the inclusion of Konga in the list of top 20 global brands to watch in 2020 by the ThisDay Board of Editors.
“The rating is proof of the huge strides and landmark achievements that Konga has recorded in the sector.
“As a matter of fact, our determination to continually lead from the front in meeting and exceeding the aspirations of our growing customers, no matter where they may be, while also growing investor confidence in Nigeria’s e-commerce sector, is unmatched.
‘‘This recognition has further emboldened all of us at Konga to show the world what makes Konga stand out in the market-place, especially as we continue to add new business units while unveiling our revolutionary strategies.
“The future is certainly bright for Konga and the e-commerce sector in Nigeria in particular and Africa in general,” he concluded.
E-Business
BPP Partners NDPC to Strengthen Data Protection

Dr Adebowale Adedokun, director-general, Bureau of Public Procurement (BPP), has reaffirmed the bureau’s commitment to data protection in Nigeria.
He disclosed this in a statement at the weekend by Zira Nagga, head of Public Relations, BPP, following a courtesy visit by a delegation from the National Data Protection Commission (NDPC).
Adedokun stressed that data protection is vital to Nigeria’s economy and development, particularly in areas such as demography, health, education, and other key sectors.
He emphasised that no country should leave its data unprotected, as it plays a crucial role in future planning and national development.
“Data governs the world. It is essential to technological progress and must be protected for a country or business to be taken seriously,” he said.
Adedokun described the visit, aimed at fostering partnership on data policy implementation and protection, as timely and aligned with national goals.
He said the BPP would collaborate closely with the NDPC to boost data development, capacity building, and enhance the procurement system.
“The BPP will support compliance as part of the ‘Nigeria First’ Policy, although it is not a core procurement eligibility requirement,” he explained.
He suggested a hybrid training model to help build strong capacity in data protection, privacy awareness, and policy understanding.
According to him, a dynamic training approach will reduce logistics costs and improve public confidence in data safety and privacy.
Dr Vincent Olatunji, CEO, and national commissioner, NDPC, praised Adedokun and the BPP for supporting data protection initiatives.
He said the partnership supports President Bola Tinubu’s vision and will strengthen data privacy across Ministries, Departments, and Agencies (MDAs).
“The collaboration will create awareness and train BPP staff to ensure a firm grasp of data protection principles and policies,” he stated.
Olatunji said the NDPC would establish a working group to finalise a Memorandum of Understanding beneficial to both institutions.
He added that President Tinubu signed the NDPC into law on 12 June 2023 to uphold citizens’ rights and protect national and business data.
Olatunji also noted that strict legal measures were in place to enforce data protection and ensure full compliance nationwide.
Both agencies agreed to form a team to sign the MoU and focus on capacity building and data management in procurement and beyond.
E-Business
FG Mulls Fibre Optic Layout to Bridge Internet Gaps

President Bola Tinubu said that his administration has initiated a project to install fibre optic cables across the country, aimed at enhancing the socio-economic development of Nigeria.
His plans were contained in a speech he delivered at a joint session of the National Assembly in commemoration of Democracy Day on Thursday, June 12.
He said the fibre optic layout is part of other projects being embarked on.
“In addition, we have embarked on an ambitious project to lay fibre optic cables across the nation, a transformative step toward bridging the digital divide and fostering greater connectivity.
“This initiative promises not only to enhance the speed and reliability of internet access but also to revolutionise how businesses operate, how students learn, and how communities stay connected,” Tinubu stated.
He maintained that by extending this critical infrastructure, his government is empowering entrepreneurs, enabling digital education, and providing the tools for our youth to compete in a globalised world.
In a most recent report on Internet connectivity, The ICIR pointed out how Nigeria has faced setbacks in its deployment of fibre optic cables and needs a transformation.
The challenges revolve around vandalism, inadequate coordination between road construction and telecom infrastructure, and varying right-of-way (RoW) charges across states.
Among industry experts, these issues impact network outages, increase repair costs, and hinder broadband expansion efforts.
It has also further threatened the digital economy, leading to slower Internet speeds, dropped calls, and unreliable connectivity among others.
E-Business
African Startups Raised $345m in Funding in May

African startups raised more than $345 million across 65 deals in May, more than double the amount raised in the same period of last year, according to a report by Briter, a research and business intelligence firm.
The report disclosed that both the number of deals and participating companies declined, confirming a growing trend of fewer companies raising funds in larger sizes.
It said fintech attracted the highest share of funding in May, accounting for 34 percent of the total, while cleantech followed closely, driven by a debt deal from Sun King. The company raised $80 million (in local currency) to expand clean energy access in Nigeria.
“Equity remains the primary instrument in terms of total value. There’s no doubt about it; in fact, equity deals with disclosed amounts captured more than half of the total funding volume in May.
“However, debt financing is increasingly proving its weight. Although it accounted for only 8 percent of all deals, it represented 32 percent of the total funding, highlighting the typically larger size of debt transactions. With the rise of specialised vehicles targeting early-stage businesses, debt is becoming an increasingly important part of Africa’s innovation funding landscape,” it said.
Briter’s report added that grants continued to play a vital role in early-stage support, especially in the education technology (EdTech) sector. The Mastercard Foundation led the pack in grant activity, funding a new cohort of EdTech innovators in Nigeria and Kenya. Each selected startup is set to receive $100,000 in grant funding, in addition to mentorship and business development support.
Multilaterals also made a strong showing in May, it said. The Multilateral Investment Guarantee Agency (MIGA), a World Bank Group member, issued a $179.6 million guarantee to CleanTech firm KOKO Networks. The support will help scale its clean energy solutions across Kenya.
“This deal not only demonstrates growing international confidence in African climate ventures but also signals a promising pathway for other asset-intensive startups in clean cooking, agriculture, and renewable energy,” the report said.
From a geographic perspective, Egypt emerged as the continent’s fundraising powerhouse for the month, contributing 51 percent of all funding raised. The country recorded 12 deals across equity, debt, and bond instruments. Notably, FinTech platform MNT-Halan raised $50 million through a bond issuance, further illustrating the diversification of capital-raising mechanisms in the region.
Outside Egypt, funding was distributed across Africa’s three other key markets, which are Egypt, Nigeria, and Kenya, with limited activity recorded in countries such as Ghana, Tunisia, Morocco, and Uganda, each registering between one and three deals.
In terms of exits, the African tech landscape continues to mature. Three companies—Baobab+, Qardy, and Shopa—were acquired in May, bringing the total number of exits this year to 22. This already surpasses last year’s count for the same period. Qardy was acquired by Catalyst Partners Middle East (CPME) in a disclosed deal valued at $23 million, the report added.
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