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Konga May Disrupt The Nigerian Stock Exchange By 2027

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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.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

E-Business

Offset Communications Slams N50m Suit against Qore Technologies for Alleged Copyright Infringement

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Offset Communications Advisory Ltd has dragged Qore Technologies Ltd before a Federal High Court in Lagos, demanding the sum of N50 million as damages for the alleged infringement of its copyright.

Offset Communications Slams N50m Suit against Qore Technologies for Alleged Copyright Infringement

Pic credit….https://copyrightalliance.org

Offset, in the suit marked: FHC/L/CS/1994/2025, is claiming that Qore used content from a proposal it submitted in December 2022, without formal engagement, attribution, or a licensing agreement.

“The Defendant’s execution of the content of the proposal submitted to it by the Plaintiff without any formal engagement, attribution or a licensing arrangement… amounts to an infringement of the Plaintiff’s copyright,” Offset stated in its writ of summon.

The suit filed on September 29, 2025, by Jimoh Bamigbola and Omobolaji Idris, on behalf of the plaintiff has Qore as sole defendant.

Plaintiff, a Lagos-based communications firm, in its statement of claim said it a had previously worked with Qore on Public Relations (PR) projects and was later asked to prepare a communications strategy for the company, adding that the said proposal contained ideas on employee engagement, branding, and stakeholder management.

Offset however, alleged that Qore implemented elements of the proposal, including internal communication initiatives and branding concepts, without payment or agreement.

“The Defendant executed and integrated the propositions into its Public Relations and Communication Strategy without any formal engagement… with the Plaintiff,” the statement of claim read.

The plaintiff said it discovered the alleged infringement in April 2025 and subsequently notified the defendant, but efforts to resolve the dispute failed.

It is seeking, among other reliefs, a declaration that the defendant’s actions amount to copyright infringement, N50 million in general damages, N5 million in litigation costs, 29 percent post-judgment interest, and “an order of perpetual injunction, restraining the Defendant… from further infringing on the Plaintiff’s copyright.”

Qore Technologies, however, denied the allegations in its statement of defence, arguing that the plaintiff was only engaged for limited Public Relations support services on a project basis and was paid for those services.

“The Plaintiff merely provided routine and secondary Public Relations support services… for which the Plaintiff was remunerated,” the defendant stated.

Qore further argued that the ideas referenced by the plaintiff are not protected under copyright law.

“The alleged ‘ideas’… consist of generic corporate communication practices widely used by companies… and cannot constitute original copyrightable works under Nigerian law,” it said.

The company also maintained that no binding agreement existed regarding the proposal and that its branding and communication strategies were developed internally and by its consultants.

In addition, Qore challenged the competence of the suit, stating that “the Statement of Claim discloses no reasonable cause of action” and that the court lacks jurisdiction to entertain the matter.

The defendant also filed a counterclaim, seeking N6.35 million as reimbursement for legal fees incurred in defending the suit, as well as N2 million in costs.

At the hearing on March 23, 2026, counsel to the parties identified their processes, and the court adjourned the matter to June 22, 2026, for further proceedings.

The case is expected to test the boundaries of copyright protection in Nigeria’s Communications and Public Relations industry, particularly regarding the ownership of proposals and business ideas.


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FG to Strengthen Cybersecurity Coordination as NDPC Probes Alleged Data Breach

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Federal government has announced plans to deepen collaboration with private sector players and other stakeholders in a bid to strengthen Nigeria’s cybersecurity architecture and response systems.

FG to Strengthen Cybersecurity Coordination as NDPC Probes Alleged Data Breach

Bosun Tijani, minister of Communications, Innovation and Digital Economy, disclosed this in a recent press statement, noting that the government is considering the establishment of a Cybersecurity Coordination Council.

According to the minister, the proposed council is aimed at enhancing national cyber resilience and ensuring a more coordinated response to emerging cyber threats across public and private institutions.

Tijani emphasised that cybersecurity must be treated as a collective responsibility involving government, industry, and civil society.

“Cybersecurity is a shared national responsibility. Protecting Nigeria’s digital economy requires strong partnerships, trusted collaboration, and collective vigilance across government, industry, and civil society,” he said.

He added that through sustained collaboration, Nigeria would strengthen its capacity to detect cyber threats early, respond effectively, and build a resilient and trusted digital ecosystem.

The minister also called for increased stakeholder participation in shaping a sustainable, partnership-driven cybersecurity framework capable of deterring cybercriminal activities and safeguarding citizens, businesses, and critical digital infrastructure.

Meanwhile, the Nigeria Data Protection Commission (NDPC) has commenced an investigation into an alleged data breach involving Remita Payment Services Ltd., Sterling Bank, and other entities.

A statement on Sunday issued by Babatunde Bamigboye, head, Legal, Enforcement & Regulations, NDPC, said in line with the Commission’s procedure, Notice of Investigation was duly served on the 1st of April, 2026.

Bamigboye said relevant parties and individuals have been providing information for the purpose of addressing the incident.

“The aim of the investigation is to ensure that data subjects are protected with appropriate technical and organisational measures.

“The investigation by NDPC covers, among others, the types of personal data involved, the nature and scope of the alleged breach, the risk to data subjects and the mitigation measures carried out where a breach is confirmed,” he explained.

Vincent Olatunji, Commission’s National Commissioner/CEO, has directed that organisations that employ digital payment systems without putting in place appropriate technical and organisational measures as mandated under the Nigeria Data Protection Act, 2023 (NDP Act), will also be examined as part of a wider effort to ensure the integrity of the ecosystem.


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Nigeria Mulls National Cybersecurity Council

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Federal Government has unveiled plans to establish a National Cybersecurity Coordination Council, signaling a shift toward a more unified, intelligence-driven approach to defending the country’s rapidly expanding digital economy.

Conceived as a non-statutory, multi-stakeholder body, the proposed Council will enhance coordination, enable trusted information sharing, and guide government strategy on cybersecurity, risk management, and national response amid increasingly complex cyber threats.

The initiative, championed by Bosun Tijani, minister of communications, innovation and digital economy,  is designed to bring together government institutions, private sector players and technical experts into a single collaborative platform to strengthen the country’s cyber resilience.

Tijani noted that this initiative comes in response to a wave of recent cyber incidents that have disrupted operations across key private institutions and public sector.

In recent times, Nigeria’s financial system has faced mounting cyber pressure, reflecting global trends as cybercrime is projected to cost the world over $10.5 trillion annually, according to Cybersecurity Ventures.

Analysts say these attacks are increasingly coordinated and sophisticated, prompting the government to recognise that fragmented, institution-specific approaches can no longer manage systemic cyber risks effectively.

Under the new framework, the government aims to promote a “collective defence” model, an approach widely adopted in advanced digital economies where threat intelligence is shared in real time across institutions.

The Council is expected to include chief information security officers, cybersecurity associations, the Nigerian Computer Society, global technology providers, researchers, law enforcement agencies and civil society groups, ensuring a broad-based and technically grounded response architecture.

Key priorities will include developing national threat intelligence-sharing systems, harmonised cyber defence protocols, and coordinated incident response, while strengthening capacity to close Nigeria’s cybersecurity talent gap.

 


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