Ngozi Chukwu

1 week ago | techcabal.com | Ngozi Chukwu

Jumia, Africa’s leading e-commerce platform, expects to generate enough revenue to cover all operating expenses by 2027. This is not equivalent to net profitability, as taxes could still impact the projected bottom line, but it is a significant milestone for a public company that has historically reported losses. “Driven by strong underlying growth in our core consumer business and decisive actions to improve efficiency, we are updating our financial outlook,” Dufay shared in the SEC filing.

2 weeks ago | techcabal.com | Ngozi Chukwu

On March 15, 2024—a year ago from today—cars and pedestrians bustled beneath the NASDAQ digital billboard in Times Square, where Adora Nwodo’s image glowed. Below her picture read the text: Adora Nwodo, Top Software Engineer of the Year, International Association of Top Professionals (IAOTP). The publicity was an award perk from IAOTP, a community that spotlights professionals with significant accomplishments.

4 weeks ago | techcabal.com | Ngozi Chukwu |Muktar Oladunmade |Bunmi Bailey |Frank Eleanya

On a sunny day in mid-2020, Malobi Ogbechie stepped off a ferry into Lagos’ Apapa port. He paced the busy port for hours, asking dockworkers how to ship his small batches of fonio, a nutrient-rich West African grain, by sea to save on expensive air freight that was eating into his margins. Unable to afford shipping a full container, he asked around for shippers who allowed cargo sharing with other exporters—groupage, as it’s called. He found none.

1 month ago | techcabal.com | Adonijah Ndege |Ngozi Chukwu |Kenn Abuya

Nation Media Group (NMG), Kenya’s largest independent media outlet, has reported a record $1.9 million (KES254.4 million) loss for 2024, hit by falling advertising revenues and a costly restructuring process. The loss is a 27% increase from 2023’s $1.5 million (KES 205.7 million) loss despite an 11% growth in online subscriptions. The company’s board has opted not to declare a dividend for 2024 because of the loss.

1 month ago | techcabal.com | Adonijah Ndege |Ngozi Chukwu |Muktar Oladunmade

US tech investors face operational and regulatory challenges in Nigeria and Kenya, as longstanding issues around corruption, intellectual property (IP) violations and new digital tax regimes targeting foreign firms frustrate investment efforts, according to the US Trade Representative’s Foreign Trade Barriers report.