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  Success Damian: Condemnation has continued to trail the announcement of Teleology as the preferred bidder for 9Mobile. The latest of the trenchant condemnation rails at the perceived tardiness by Barclays Africa, the financial advisor to the sale of 9Mobile.   Making the condemnation in a statement issued in Abuja, a non-governmental organization, Business Renaissance Group (BRG), noted that the letter said to have been sent to Teleology by Barclays Africa was hasty and preemptive.  According to the statement co-signed by its President Mazi Omife I. Omife and its Secretary Dr Funso Akomode, the group stated that Barclays Africa jumped the gun in announcing a preferred bidder.  It noted that in a meeting held with the interested bidders on the 26th of January 2018, Barclays gave the two finalists in the bid process: Teleology Holdings and Smile Telecoms Holdings the opportunity to increase their bid for 9Mobile within 30 days which brought the deadli...

Success Damian: OLX, Nigeria’s leading e-commerce platform has closed up operations in Nigeria and Kenya. Information extracted from the Public Relations desk of the group confirmed the development just as Business Insider Sub Saharan Africa (BI SSA) also confirmed from several internal sources within both territories, the closure of its operations in the two Africa’s strongest e-commerce markets. OLX, founded as an alternative to Craigslist and fully acquired by South Africa media giant Naspers in 2010 has been struggling to strike definable businesses in Kenya and Nigeria since it entered those markets in 2012. According to sources, staff of the company in Nigeria and Kenya were formally informed of the decision on Tuesday with a notice of termination of employment beginning in March, followed by management team in April, just as it intends to focus on its strongest market in Africa which is South Africa. It is not clear the number of staff that has been affected by ...

  Success Damian Zinox Group, known for Information Communications Technology solutions and equipment manufacturer, has acquired Konga after intense negotiations with major investors - AB Kinnevik and Naspers. With this acquisition, Zinox Group will assume ownership of the e-commerce group which includes Konga.com, Nigeria’s largest online mall; KongaPay, a CBN-licensed mobile money platform which has more than 100,000 subscribers and KOS-Express, a digitally-driven logistics company. Based in South Africa, Naspers is a broad-based multinational Internet and media group that renders services in more than 130 countries while AB Kinnevik, founded in 1936, is a Swedish investment company investing primarily in digital consumer brands. I n a statement made available to the media, the Zinox Group would expand its operations into e-commerce, an industry it pioneered in Nigeria with the launch of BuyRight Africa.com, which was challenged by the absence of credit card and e-pa...

Success Damian: The Independent National Electoral Commission (INEC) has disclosed that physical copies and electronics will be used to announce results of the 2019 elections. Prof. Mahmood Yakubu, the Chairman of INEC, said this during a visit to the Executive Vice-Chairman of the Nigerian Communications Commission, Prof. Umar Danbatta, in Abuja recently.. Speaking further he said, “We are planning for full deployment (of electronic and manual transmission) this year in governorship elections in Ekiti and Osun. Thereafter we intend to deploy the system in the 2019 general elections. “INEC has developed the hardware and software. However, we rely on the operators for the transmission of both the figures and scanned images of result sheets. We wish to assure Nigerians that while we transmit the raw figures from polling units, scanned images of the result sheets will also be transmitted electronically in addition to physical copies given to party agents at polling units.” He...