E-Business
Konga Says Secured “KongaPay” Boosts Users’ Trust on eCommerce

Konga.com, Nigeria’s largest online marketplace, has tipped its e-payment solution- KongaPay as morale booster for e-commerce market buyers and sellers in the country, as the platform is made available to all users on Konga.
The revolutionary online payment platform allows customers pay for their orders without using the debit cards or having access to the internet, thereby reducing their dependence on “payment on delivery” and restores “trust” among users.
J. R. Kanu, vice president, Payment and Digital Goods for Konga.com, made the remarks while speaking to journalist at the weekend, adding that the product unveiled by Konga.com on June 2015 brings convenience to users.
According to him, through a partnership with Nigerian banks, KongaPay would change the face of online shopping in Nigeria by removing the uncertainties customers associate with pre-paying for goods and services they are yet to receive.
He identified main reasons Nigeria prefer “payment on delivery of goods” to include, the inability to access items ordered; refund of fund should a user decides to cancel transaction; low rated merchants approach to delivery, among others.
These, Kanu said, were taken into considerations while developing the platform that also allows users to perform one-click payments on the Konga marketplace, using the codes to their KongaPay accounts.
According to him: “The customer who wants to use KongaPay will sign in to create his or her own account which will be linked to his or her bank account through a code that will be generated and delivered to his or her mobile phone.
“This code will be used to authorize future transactions initiated by the customer anytime he or she triggers a transaction.”
He said, ”KongaPay is unique in the sense that on the KongaPay platform all payment made are safe and secure as they are held in escrow until the transaction is satisfactorily completed and payments for unsuccessful or cancelled transactions are reversed and refunded immediately”.
He further explained that unlike other online payment platforms, KongaPay eliminates the need for customers to enter sensitive personal information such as credit or debit card details or Internet banking passwords.
Also any customer who has a bank account and a registered mobile phone can use the KongaPay without necessarily signing up for internet banking.
The platform offers convenience for e-Transactions, but presently only on Konga.com platform, with the OTP culled from the user’s bank verification number (BVN), which Kanu said, is more secured and sure-proof against cyber traitors.
This makes KongaPay the first non-banking sector to link BVN to its process through its partnership with the NIBSS.
During a demo session, Gabriel Gab-Umoden, vice president, Marketing, Konga.com, reiterated that upon opening an account on KongaPay, the use gets instant loyalty reward of N500.
Gab-Umoden said that Kongapay is not only more secure but also easier to use than other e-commerce payment methods as sign up and subsequent usage can be completed in just a few steps.
Explaining the process, he said, “What the shopper is required to do to register on KongaPay is select his or her bank, enter his or her name, account number and date of birth and then finish registration by using the code sent via SMS to the individual’s registered mobile number code.
This code will be used to authorize his or her transactions anytime the user shops on Konga.com.
After successful launch and integration with Access Bank, Diamond Bank, Ecobank, FCMB, First Bank, GTB, Heritage Bank, UBA and Zenith Bank, most Nigerian banks now offer access to KongaPay.
“We are unrelenting on our efforts to better the worth of shoppers on Konga.com. We try as much as possible to make sure merchants live up to expectations by offering them tips on quick delivery. Over time, those who find it difficult to deliver accordingly or with low ratings are blacklisted from our special sales period such as Yakata.
“We have zero tolerance for treating shoppers with levity. This is one of the reasons Konga Express was established to speed up delivery and customers have been enjoying the benefits. We are highly customer-centric and are committed towards finding innovative ways of improving our customers’ shopping experience,” he added.
Konga.com since launch in July 2012 has grown to become Nigeria’s largest online mall.
It serves a retail customer base that continues to grow exponentially, offering products that span various categories including Phones, Computers, Clothing, Shoes, Home Appliances, Books, healthcare, Baby Products, personal care and much more.
E-Business
OpenAI Eyes Chrome Acquisition if Google is Forced to Sell

Nick Turley, OpenAI’s Head of Product, testified in Washington that the company would be interested in acquiring Google’s Chrome browser if antitrust enforcers succeed in forcing Alphabet to sell the popular web browser.
This testimony was part of a high-profile trial in which the US Department of Justice is pushing to break up Google’s monopoly in the online search and advertising markets, Reuters reported on Tuesday.
The DOJ’s case centres on Google’s dominance in online search, which it argues unfairly stifles competition. A key aspect of the DOJ’s proposed remedies includes requiring Google to divest assets, including its Chrome browser, to restore a more competitive search environment.
According to the report, Turley’s statement provided insight into OpenAI’s competitive positioning within the generative AI space.
He noted that Google’s refusal to partner with OpenAI for access to its search technology within ChatGPT had pushed the company to explore alternative partnerships, particularly with Microsoft’s Bing.
Turley had previously written that ChatGPT leads the consumer chatbot market and did not consider Google its biggest competitor, according to an internal OpenAI document presented by Google’s lawyers during the trial.
He clarified that the document was meant to inspire OpenAI employees and emphasised that the company would still benefit from distribution partnerships, Reuters reported.
Earlier in the day, Turley testified that Google rejected OpenAI’s bid to use its search technology within ChatGPT.
OpenAI had reached out to Google after experiencing issues with its own search provider, Turley said, though he did not identify the provider. ChatGPT currently uses Microsoft’s Bing for search.
“We believe having multiple partners, and in particular Google’s API, would enable us to provide a better product to users,” OpenAI had told Google in an email shown at the trial.
OpenAI first reached out in July, but Google declined the request in August, citing concerns about competition. “We have no partnership with Google today,” Turley said.
The trial also highlighted Google’s internal strategy, including efforts to secure exclusive search agreements with major Android device manufacturers like Samsung.
According to Turley, such exclusivity could hinder the development of competing AI technologies, like ChatGPT, which depend on a range of search and data sources.
E-Business
Digital Consumers are Driving a New Era of Online Shopping, Transforming how Nigerian Youth Buy

The digital revolution is hitting Nigeria’s retail scene fast, and it’s being powered by the country’s youth. Armed with smartphones and a demand for affordability, they’re shaping the e-commerce industry where convenience reigns supreme.
Nigeria’s internet users, reaching more than half its population, creates a strong foundation for e-commerce growth. This growth is significantly fueled by the nation’s youth, a substantial 160 million (70% of the population), whose tech-forward nature drives the popularity of platforms like Temu, satisfying their demand for accessible and budget-friendly online retail.
This generation has flipped the retail script. Value is their compass, price comparisons their weapon, social media their guide, and convenience their non-negotiable. This isn’t just shopping; it’s a calculated pursuit of savvy options, the widest selection, and the best value-for-money deals.
The power of finding a good deal is undeniable, especially for these shoppers watching their wallets. Social media is a testament to this, filled with posts celebrating the newfound ability to purchase items once considered luxuries.
Take Anwulika Udanoh (@Anwulika Udanoh on Facebook), for example. Her recent post, detailing her shopping experience on Temu, is a perfect snapshot of this online shopping revolution. She stumbled upon affordable jewelry on the platform, swayed by glowing reviews, and took a chance. What followed was a delightful surprise: customised earrings bearing her name, a feat once thought impossible.
Even her son’s friend jumped on the personalisation trend with custom pendants. ‘Their prices will shock you,’ she wrote, with genuine excitement. And despite any concerns about longevity, the sheer joy of affordable, personalised style at good quality won her over. That’s the power of this shift.
This goes beyond mere bargain hunting; it’s about empowerment. It’s about unlocking the ability to express your unique style without sacrificing your financial stability. It’s about finding those small sparks of joy, like personalised jewelry that feels uniquely yours. For many, these platforms are a portal to a more colourful and individually tailored life.
Then there’s the spirit of adventure, captured in a simple tweet by Steph (@steph on X): ‘ordered a couple of desk items, wish me luck.’ It’s the essence of a generation eager to discover new ways to elevate their everyday life.
Launched in the country in November 2024, Temu offers a diverse selection that aligns with the dynamic needs of young Nigerians. The direct-from-factory online marketplace is known for cutting out layers of middlemen and their associated markups and costs, passing on savings to consumers. Serving more than 90 markets globally, Temu has become one of the most visited e-commerce sites worldwide and a top Apple-recommended app of 2024.
Let’s be real: budgets matter. In a country where every naira is carefully considered, competitive pricing and accessible payment methods, aided by partnerships like Temu and Verve, empower Nigerian shoppers with greater choice and freedom to embrace trends while making the budget go beyond. It’s like opening up a world of possibilities.
Adding to the appeal is a user experience designed for the mobile age. With 193.9 million cellular connections, smartphones are the gateway to this digital world, and intuitive platforms allow for seamless browsing and purchasing on the go, perfectly aligning with the dynamic rhythms of young Nigerian life.
This mobile-first approach is further amplified by the power of social proof. In a nation of 31.60 million social media users, reviews and recommendations carry significant weight, transforming satisfied shoppers into passionate brand advocates.
A growing digital environment, particularly in urban areas, presents a rich opportunity for platforms that resonate with the aspirations of young people. They seek more than just products; they want to build online communities, create digital identities, and shape their lifestyles.
Real stories like those of Anwulika and Steph show that Temu isn’t just a place to shop, but a platform that’s unlocking joy, creativity, and financial freedom for Nigeria’s youth. Whether it’s personalised jewellery, playful desk accessories or everyday essentials, Temu is turning everyday purchases into moments of empowerment — proving that with the right platform, anything is possible.
E-Business
Gold Hits Record High Amid U.S. Dollar Weakness and Trade Tensions

Gold prices surged to a fresh record high on Monday, April 21, while the dollar weakened and global stock markets presented a mixed picture, as concerns mounted over former President Donald Trump’s escalating tariff strategy and his ongoing confrontation with the Federal Reserve.
Amid subdued activity due to continued Easter holiday closures in several markets, investors focused on the potential fallout from Trump’s latest trade moves and looked ahead to key economic data releases later this week that may shed light on the broader impact of the evolving U.S.-led trade war.
The administration’s tariff campaign has triggered swift responses from major economies. While some, like Japan, are reportedly seeking accommodations to ease Washington’s trade levies, China issued a sharp warning to governments not to negotiate at the expense of its interests. A spokesperson for China’s commerce ministry said Monday that appeasement and compromise would fail to win peace or respect, calling on nations to avoid sacrificing broader interests for temporary gains.
Beijing’s tone contrasted with Trump’s comments last Thursday in which he signaled ongoing discussions with China, expressing optimism about reaching a deal. However, tensions remain high, with China facing tariffs of up to 145 percent on some goods, and retaliating with duties of 125 percent on U.S. exports.
The growing uncertainty over the global economic outlook has driven investors toward safe haven assets. Gold climbed above $3,384 per ounce, buoyed both by the geopolitical instability and a weakening U.S. dollar. The dollar’s decline has been exacerbated by concerns over Trump’s comments directed at Federal Reserve Chair Jerome Powell, who warned that the tariffs could lead to a temporary rise in inflation and downplayed prospects for interest rate cuts.
Trump criticized Powell for his remarks and hinted at the possibility of removing him from office, stating: “If I want him out, he’ll be out of there real fast, believe me.” Powell has maintained that he will not step down and emphasized the legal foundation of the central bank’s independence.
The dollar fell against major currencies, with the yen and euro gaining strength. France’s finance minister Eric Lombard said Trump’s tariff policies had already damaged the credibility of the U.S. currency and warned that undermining the Federal Reserve would further shake investor confidence. Chicago Fed President Austan Goolsbee underscored the importance of central bank independence, calling it a near-universal principle among economists.
Asian stock markets reflected the uncertainty, with Tokyo’s Nikkei falling 1.2 percent, while gains were seen in Shanghai, Seoul, Singapore, Manila, and Jakarta. Oil prices declined amid renewed fears over global demand, with West Texas Intermediate and Brent crude both dropping 1.7 percent.
Investors are now watching closely for April manufacturing data from key economies, which are expected to provide early signals about the tangible effects of the tariffs. Analysts warn that U.S. fiscal and monetary policy are increasingly being viewed as volatile geopolitical forces rather than stable economic anchors. Stephen Innes of SPI Asset Management said the reputational damage to the U.S. economic brand is becoming entrenched, with global markets and allies adjusting expectations accordingly.
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