Connect with us

General News

Konga Yakata 2021 Records over 180% Growth

Published

on

Kindly share this post

Konga, Nigeria’s leading e-commerce giant, has drawn the curtains on a hugely successful 2021 edition of its annual Black Friday sale tagged Konga Yakata, with the company witnessing a massive 180% growth in Gross Merchandise Value (GMV).

The record-breaking development comes as the month-long campaign, which commenced on Thursday, November 11 came to an end on Sunday, December 12, 2021.

Feelers indicate that the e-commerce giant broke all its existing sales records during the duration of the wildly popular Konga Yakata, further justifying the significant traffic witnessed on the Konga website as well as the massive footfalls to its chain of retail stores spread across the nooks and crannies of Nigeria throughout the period of the campaign.

A source close to Konga, who pleaded anonymity as the company is yet to officially release figures, disclosed that the company enjoyed a very successful campaign, racking up massive orders and new customers, while also confirming integrity and influence of her digital logistics company known as Kxpress and the impact of various partners who showed extreme commitment.

Specifically, Konga witnessed the most significant traction from its Fast Moving Consumer Goods (FMCG), Computing, Wines/Spirits and beverages categories, all of which recorded more than a combined 120% growth year-on-year from the 2020 edition of Konga Yakata.

Also witnessing tremendous growth were its Home & Kitchen, Phones & Tablets and Electronics categories.

Deliveries were also fast-tracked, with most orders reaching their last mile destinations in record time during Konga Yakata.

In addition, the source attributed the success of Konga Yakata 2021 to the plethora of partnerships at the disposal of the e-commerce giant for the month-long sale fiesta.

Top among these was its rewarding collaboration with leading financial institutions – Access Bank Plc. and Verve Nigeria – both of which partnered with Konga to offer shoppers who make payments with their debit cards an extra 10 per cent discount on all their orders throughout the duration of Konga Yakata.

Access Bank also partnered with Konga to offer shoppers free delivery for the purchase and donation of food items for themselves and for their families, loved ones, the less privileged and communities across Nigeria under the Konga Kares CSR programme.

Other key partnerships which helped deliver an outstanding 2021 edition of Konga Yakata include those signed with brands such as Lenovo, HP, Coca Cola, Intel, Unilever, Zinox, Apple, Samsung, Haier Thermocool, Tecno, Asus, Vivo, iTEC and Infinix, among others.

‘‘Konga Yakata 2021 was a remarkable one for Konga as it went a long way in demonstrating the huge popularity Konga enjoys in the e-commerce space as arguably the most trusted brand.

“Although the management of Konga is yet to release official data, reliable information indicate that it was a record-breaking campaign for the company with over 180% growth,’’ the source revealed.

With Konga Yakata over, attention is now expected to turn to Konga Jara, an annual year-end promotion offering shoppers exceptional deals and huge savings on their yuletide


Kindly share this post

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

General News

UK Reaffirms Development Partnership with Kano, Jigawa States

Published

on

L-r: The Head of Development Cooperation at the British High Commission Abuja, Ms. Cynthia Rowe and Kano State Deputy Governor Alhaji Murtala Sule Garo in Kano
Kindly share this post

Ms. Cynthia Rowe, the Head of Development Cooperation at the British High Commission Abuja, has completed high-level engagements with Kano and Jigawa States, reaffirming the United Kingdom’s long-term commitment to development and reform in northern Nigeria.

The engagements with state governors, senior government officials and civil society leaders, underscored the UK’s modern approach to development as a genuine partnership with Nigeria. This approach prioritises state led ownership and sustainable development that delivers lasting impact through strengthening systems and partnerships grounded in investment, trade, climate financing, technical expertise and joint accountability.

Nigeria remains one of the United Kingdom’s most significant development partners, and the engagements underlined the strength and ambition of the bilateral relationship reaffirmed during the recent UK-Nigeria State Visit.

Kano State

In Kano, Head of Development Cooperation, Cynthia Rowe, met with Deputy Governor Alhaji Murtala Sule Garo and senior officials including the newly confirmed Head of Civil Service and Secretary to the State Government. The visit recognised Kano’s progress on climate finance, health system reform and private sector investment supported through UK technical assistance.

Jigawa State

In Jigawa, she met with Governor Umar Namadi and heads of key ministries, departments and agencies. The meeting celebrated more than 25 years of UK-Jigawa partnership, one of the most longstanding bilateral development relationships at the subnational level in Nigeria. Discussions covered the state’s continued progress on health systems reform, agriculture, and governance and the path forward under UK-technical assistance.

Since 2022, PLANE has supported Kano, Kaduna and Jigawa to strengthen state-led education delivery systems, working through Ministries of Education, SUBEB and key agencies. Its RANA+ foundational learning packages have reached 1.4 million pupils across the three states, alongside wider system strengthening.

At the end of the visit, the Head of Development Cooperation, Cynthia Rowe said: “For more than 25 years, we have worked side by side with state governments including Jigawa and Kano states, their communities, and civil society to build stronger health systems, improve learning outcomes for millions of children, support farmers to grow their businesses, and help states attract the investment they need to thrive.

These visits have reinforced our confidence in what this partnership can achieve. We are working together to deliver lasting change, and deepening a relationship built on genuine mutual respect and shared ambition for Nigeria’s growth and development.”

 


Kindly share this post
Continue Reading

General News

FCMB, REA Others Launch $188M Fund to Finance 191mw Solar Capacity

Published

on

Kindly share this post

The Green Finance Investment Facility (GFiF), a blended finance platform to mobilise large-scale private and institutional investment into distributed renewable energy infrastructure across Nigeria, has officially launched.

The facility, led by Barton Heyman Limited in partnership with the Rural Electrification Agency (REA), UK PACT, First City Monument Bank (FCMB), and ARMHIIL, aims to raise $188 million to finance 191 megawatts of distributed solar capacity for households, communities, and businesses across Nigeria.

The initiative also supports the Distributed Access through Renewable Energy Scale-Up (DARES) programme, a national effort to expand electricity access through decentralised renewable energy solutions.

Launched on May 7, 2026, in Lagos, the platform brought together financial institutions, renewable energy developers, policymakers, and development finance stakeholders. Its goal is to unlock financing solutions that accelerate energy access, reduce financing gaps, and support Nigeria’s transition to cleaner, more sustainable energy systems.

Speaking at the launch, the Managing Partner of Barton Heyman Limited, Olumide Lala, described the facility as a market-driven model capable of unlocking private capital at scale for Nigeria’s energy transition.

“The Green Finance Investment Facility is more than a financing arrangement; it represents direct support for over one million Nigerians. Nigeria’s distributed renewable energy sector can be financed using a private-sector framework that leverages sovereign pipelines, results-based funding, and commercial loans to attract private capital at the national level. This is our initial step to raise $40 billion to finance 20 gigawatts of distributed renewable energy,” he said.

Also speaking, Anthony Feyitimi, Senior Partner, Barton Heyman, said: “The Green Finance and Investment Facility is not simply about clean energy. It is about what reliable, distributed power makes possible for Nigeria’s economy. Every megawatt we finance is a business that can operate, a supply chain that can function, a community that can compete.

“We have structured a blended finance platform that brings together sovereign pipelines, results-based funding, and commercial capital into a single, replicable facility. The GFIF Pilot is our first $188 million step. The platform’s ambition is $40 billion and 20 gigawatts. We are building it from Nigeria, for Nigeria.”

The Managing Director of the REA, Abba Aliyu, said the initiative directly addresses one of the sector’s most pressing constraints — access to finance.

“The Green Finance Investment Facility can tackle access to finance, one of the main barriers to renewable energy deployment. Today’s launch is the outcome of a strategic partnership created to ensure communities lacking reliable power can access electricity. We are proud of what this facility signifies for Nigeria’s energy future,” he stated.

Speaking on behalf of FCMB, George Ogbonnaya, Senior Vice President and Divisional Head, Business Banking Group, highlighted the Bank’s expanding role in renewable energy financing and inclusive infrastructure development.

“FCMB has established itself as a leading renewable energy financing institution, serving as a first-time lender to many players driving growth in the sector. We have committed ₦100 billion in debt financing for DARES. Currently, we are funding over eight developers under the DARES isolated mini-grid Performance-Based Grant programme and finalising funding for another seven developers.

“We will continue to support developers in scaling and meeting electrification targets, improving quality of life in rural and peri-urban communities. This aligns strongly with our purpose of fostering sustainable growth within the communities we serve,” he said.

He further disclosed that FCMB has financed more than 42 mini-grid projects and is supporting efforts to connect over 2 million households, in line with Nigeria’s national electrification objectives.Nigerian politics analysis

Derek Chime, Chief Investment Officer at ARM Harith Infrastructure Investment Limited (ARMHIIL), called for deeper collaboration across the ecosystem to unlock more investment into renewable energy infrastructure.

Simon Field, Deputy Head of Mission at the British High Commission in Lagos, reaffirmed UK PACT’s commitment to strengthening green finance frameworks and expanding renewable energy adoption in Nigeria.

Titilayo Oshodi, Special Adviser on Climate Change and Circular Economy to the Governor of Lagos State, stressed the importance of coordinated investment, innovation, and policy support in accelerating sustainable energy access.

Nigeria continues to face significant challenges in electricity access, with millions of households and businesses lacking a reliable power supply. Stakeholders at the launch noted that initiatives like GFiF are critical to mobilising long-term capital, reducing investment risk, and accelerating the deployment of clean energy solutions to power communities nationwide.


Kindly share this post
Continue Reading

General News

Why Nigerian Publishers Must Rethink Revenue Models

Published

on

Kindly share this post

For many Nigerian publishers, the model that once sustained journalism is no longer working. Advertising, long the backbone of print, radio, and television, has been declining. At the same time, the wider entertainment and digital media market is growing and is projected to reach $4.9 billion by 2026.

Why Nigerian Publishers Must Rethink Revenue Models

L-R: Adeola Adejokun, Head, Communications, First City Monument Bank; Chris Ihidero, Award-winning Director and Producer; and Diran Olojo, Divisional Head, Corporate Affairs, First City Monument Bank, during the Monetised Content: A Media Masterclass Presented by FCMB and BHM, in Victoria Island. Lagos on Monday, April 20, 2206.

This creates a clear gap. The old revenue streams are shrinking, but new ones are emerging—driven largely by digital platforms and changing audience behaviour.

Today, revenue is no longer just about traditional ads. It includes earnings from platforms like Google through ad networks, creator payouts on X (formerly Twitter), and content monetisation on YouTube and Spotify. These channels reward reach, engagement, and consistency, but they also require a different way of thinking about content.

For publishers, this means shifting from a single-format approach to a multi-platform strategy—taking one piece of content and adapting it across video, audio, and text formats to reach audiences wherever they are.

This shift was the focus of The Monetised Content Masterclass, hosted by FCMB in partnership with BHM. The session brought together publishers across the ecosystem, including reporters, editors, bloggers, and content creators, to examine how to move beyond traditional revenue models.

One message came through clearly: financial sustainability now sits at the heart of editorial independence.

Discussions focused on how publishers can create real value, not just traffic or impressions, but content that travels well across platforms and can be monetised in different ways. This includes building direct audience relationships, forming the right brand partnerships, and using data to guide both content and commercial decisions.

Participants explored practical options such as paid memberships and subscriptions, branded content collaborations, and platform-based earnings. The emphasis was on execution, how to take what already exists and make it work harder across multiple channels.

Speaking at the session, Divisional Head, Corporate Affairs, FCMB Group, Diran Olojo, pointed to the need for a shift in mindset: “We are at a point where publishers must move from content production to platform thinking, building systems that can sustain value over time.”

For BHM’s CEO, Ayeni Adekunle, the issue is urgency: “The model has changed. The question now is whether the industry will adapt quickly enough to secure its future.”

Moderated by Fatu Ogwuche, the masterclass featured Fisayo Soyombo, Chris Ihidero, Jennifer Mairo, and Peter Oluka. Speakers shared practical insights, from repurposing content across formats to building audience loyalty and unlocking new revenue streams.

The takeaway was simple. Publishers can no longer rely on a single source of income. Growth will come from combining platform earnings, partnerships, and direct audience support, while making content work across multiple formats and channels.

For FCMB, the initiative reflects a clear commitment to supporting the growth and long-term sustainability of the media sector, given its role in informing the public, shaping opinion, and supporting national development.


Kindly share this post
Continue Reading

Trending