E-Business
Konga May Disrupt The Nigerian Stock Exchange By 2027

Konga Online Shopping Limited, leading ecommerce giant could be preparing its runway for a listing on the Nigerian Stock Exchange (NSE) within the next 3 years, news sources gather.

Working with global investment advisory firms, the largest online shopping omnichannel platform in Nigeria could list its shares in an Initial Public Offering (IPO) as early as 2027, according to experts familiar with the matter.
Strong indications from the leadership of the company show that deliberations are in place and while the details on the timing of the launch could vary, the move to a publicly owned entity appears certain.
The new Konga which was founded in 2018 when Zinox group acquired it 100% from Africa’s largest tech global investors, Naspers and Europe Kennivik, has grown through the years to become a major ecommerce player with more than 700 full time staff and over 100,000 indirect employees in its portfolio. The acquisition by Zinox Group, a leading tech company, in 2018 was regarded as one of the biggest buyouts of a mainstream ecommerce organisation on the African continent at the time. The company has since positioned itself as a formidable force in the ICT sector.
Speaking with this reporter on the possibility of a public listing, Dr. Chris Uwaje, an expert with a deep understanding of the dynamics in global capital market as it relates to Tech Companies stated that “Konga is a company which must be watched closely as an organization with the potential to disrupt the Nigerian stock market in 2027 if it hits the NSE as companies like Amazon, Jumia struggle to survive in Africa because of infrastructural issues, and are discouraged from meeting their ambitions in Africa.
“As the global economic storm hits Africa, and Nigeria in particular, there are few companies which will emerge in the next 5 years and Konga will break barriers if they hit the stock exchange, because these guys strategies and tacts are auditable” he said.
With Jumia’s last quarter result showing reasonable stress and Amazon withdrawing its expansion strategy for Africa, the path for Konga is clear as the only ecommerce company that has everything within its business, from online marketplace, fintech, hospitality and travels as well as global brand partnerships, to own logistics nationwide. It will cost a fortune to build such a consolidated group in Africa powered by very expensive technologies and complicated analytics.
Konga, best known for its trusted delivery service, began exploring the possibility of an IPO in early 2021, however it still operates as a privately held entity with active institutional backing. The business is valued at over $3billion considering its direct partnership with major global brands Like Apple, L’Oreal (No.1 Cosmetics company in the world), Starlink owned by Elon Musk’s Space X, Samsung, HP, Lenovo and others who host official stores on Konga.
“Having spent time discussing with investment consultants in Nigeria, I have come to the decision that Konga going on the Stock Exchange will be a win for the country’s business landscape. The organisation’s framework is right for the Nigerian Stock Exchange and the fact that it is committed to driving economic activity within the African subregion should be encouraged,” says Akintunde Badmus, an investment banker based in New York and Lagos.
In many global markets, companies like Konga acquire the services of a special purpose acquisition company (SPAC), through which it lists several businesses over three years. According to two people familiar with the deal, this could be a path the ecommerce service provider may take.
A SPAC deal for Konga will be a significant test of investor appetite for the Nigerian brand as the group undergoes various layers of restructuring to position its portfolio of companies as major stakeholders in corporate trade, fintech, hospitality and cosmetic distribution.
Despite facing global economic headwinds over the past year, Konga has experienced a notable boost in its financial metrics. The company benefits from the leadership of a team of young, yet seasoned professionals, including Prince Nnamdi Ekeh, an MBA graduate from Saïd Business School at Oxford University, known for their acumen and international business expertise.
The Nigerian Initial Public Offering sector worth an estimated N29trillion is gradually gaining momentum after months of market instability as major manufacturing organizations grapple with tough economic realities.
If Konga succeeds with its entry into the stock market, it will be the first locally owned majority stake ecommerce entity to achieve this feat. Other companies such as Jumia have listed on the New York Stock Exchange with its share value dwindling drastically at 10 percent of its original listing price.
Konga group may tell the true eCommerce story out of Africa if all goes well.
E-Business
Galaxy Backbone Celebrates the Federal Government’s Paperless Civil Service Milestone

Galaxy Backbone (GBB) aligns with and celebrates the successful announcement by the Office of the Head of the Civil Service of the Federation on the achievement of a Paperless Civil Service, a significant milestone in Nigeria’s public sector reform and digital transformation agenda.

The milestone was formally highlighted at a press briefing led by the Head of the Civil Service of the Federation, Mrs. Didi Esther Walson-Jack, who commended Galaxy Backbone for its sustained support and contribution throughout the implementation of the programme.
GBB has played a critical role in enabling this transition by providing secure, scalable, and shared digital infrastructure that supports the digitisation of government processes across Ministries, Departments and Agencies (MDAs). Through the 1Government Cloud, MDAs have been empowered to migrate from paper-based workflows to digital platforms, improving efficiency, collaboration, data security, and service delivery across the Federal Civil Service.
In addition, GovMail, GBB’s secure government email platform, has strengthened official communication, enhanced records management, and reinforced cybersecurity standards—key pillars in sustaining a paperless operating environment.
Galaxy Backbone acknowledges the collective efforts of the Office of the Head of the Civil Service of the Federation, Permanent Secretaries, Directors of ICT, consultants, partners, and dedicated public servants whose commitment and collaboration ensured the smooth delivery of this initiative.
The Managing Director/Chief Executive Officer of Galaxy Backbone, Prof. Ibrahim Adeyanju, was represented at the press briefing by Akintayo Bamisaye, Acting Group Head, Research, Digital Innovation and Skills Department (RDIS).
GBB describes the achievement as a strong close to 2025 and reaffirms its commitment to supporting the Federal Government in building a modern, efficient, and digitally enabled public service.
E-Business
Jumia CEO says Black Friday Signals Nigeria’s E-Commerce Maturity

At the close of 2025, Temidayo Ojo, the CEO of Jumia Nigeria, reflected on a year-end shopping season that points to the growing maturity of the country’s e-commerce market. “Black Friday is no longer a single, short-lived spike in activity,” he said.

“It has become a familiar, anticipated moment in the retail calendar, where consumers shop deliberately and with confidence.”
Preliminary KPIs for the two months ended November 30, 2025, show strong year-on-year growth in both orders and Gross Merchandise Value (GMV), with GMV growth outpacing order growth. This indicates that customers are placing fuller, more considered baskets rather than shopping in fragmented transactions. Nigeria ranked among Jumia Group’s better-performing markets, with engagement remaining steady throughout the Black Friday period rather than spiking briefly and tapering off.
A key factor behind this performance is the growing familiarity of consumers with online shopping. Customers are increasingly leveraging platform features such as saved carts, brand stores, and price comparison tools to plan purchases in advance. This trend suggests that digital commerce is becoming embedded in everyday habits rather than being viewed as a one-off event.
Ojo also highlighted the role of Jumia’s JForce network in connecting digital commerce to local communities. “Our agents are critical to ensuring that customers across Nigeria, including secondary cities and smaller communities, have access to variety, consistent pricing, and reliable delivery,” he said. “During peak periods like Black Friday, JForce agents can respond faster, serve more customers efficiently, and build stronger local relationships. This isn’t just a distribution channel—it’s a pathway to sustainable income and inclusion.”
Reflecting on the overall performance, the CEO concluded: “What we’re seeing this year-end is steady engagement across categories, stronger consumer confidence, and partners like our JForce agents benefiting from increased activity.
“It confirms that Nigeria’s e-commerce ecosystem is maturing, growing in a more structured and resilient way. As the December Holiday Sale continues, we expect these patterns of familiarity, trust, and participation to sustain momentum and drive both commerce and community impact across the country.”
E-Business
Galaxy Backbone Tops FG’s Website Performance Ranking

Galaxy Backbone Limited (GBB) has been ranked first overall in the 2025 Federal Government Website Performance Scorecard.

This is a landmark achievement for Nigeria’s digital economy.
The ranking, conducted by the Bureau of Public Service Reforms (BPSR), is the definitive benchmark for digital excellence and transparency across all Ministries, Departments, and Agencies (MDAs).
Professor Ibrahim Adepoju Adeyanju, managing director and CEO of Galaxy Backbone, received the award during a ceremony in Abuja.
He described the feat as a validation of the agency’s“Nigeria First”data sovereignty strategy and its relentless pursuit of service excellence.
This recognition comes as the Federal Government intensifies its push to achieve a fully paperless civil service by December 31, 2025.
GBB has been the primary architect of this transition through its 1Gov Enterprise Content Management (ECM) platform, which now hosts the operations of almost all federal MDAs.
The award adds to a growing list of accolades for Galaxy Backbone in 2025, following its recent win of the “International Standard Excellence Award for Best IT Service Provider.”
As the central hub for government shared services, GBB’s performance serves as a blueprint for other agencies currently undergoing digital transformation.
With its expanded fiber-optic backbone now covering over 13 states and its secure cloud solutions, Galaxy Backbone remains the cornerstone of Nigeria’s vision to become a leading digital nation by the end of the decade.
Telecom3 days agoT2 Faces NCC Probe in Benue Over Major Service Outage in 9 LGAs
Telecom3 days agoMTN Nigeria Crowns Ayo Benzi Winner of Next Afrobeats Star
E-Business3 days agoJumia CEO says Black Friday Signals Nigeria’s E-Commerce Maturity
E-Financial3 days agoGTCO Secures Regulatory Approvals to Raise N10bn in Private Placement
General News3 days agoNDIC Reinforces Full Oversight Compliance to Safeguard Depositors
E-Financial2 days agoBanks to Impose N50 Stamp Duty on Transfers of N10,000 and Above from January 1
Telecom3 days agoNCC Unveils Draft 5-Year Spectrum Roadmap, 60 GHz License-Exempt Guidelines to Boost Broadband, Innovation
E-Financial2 days agoHow Nigeria’s New Tax Law Could Redefine Risk in the Banking Sector
















