E-Business
TradeDepot Secures Additional $10M to Transform Informal Retail Supply Chain in Nigeria

TradeDepot, the B2B eCommerce platform for consumer goods in Africa, has raised a further $10 million in a pre-Series B equity round co-led by Partech, International Finance Corporation, Women Entrepreneurs Finance Initiative (We-Fi) and MSA Capital. This is in addition to the $3 million Series A led by Partech in 2018.
TradeDepot will use the new investment to continue its integration of the fragmented informal retail supply chain in Nigeria, expand into other African cities and launch a suite of financial products and credit facilities, to support its retailers
Since its launch in 2016, TradeDepot has built a network of more than 40,000 micro retailers in Nigeria. Working with global distributors and manufacturers including Nestlé, Unilever, GB Foods and Danone, TradeDepot makes household supplies, such as milk, soap, detergent and other essentials more accessible and affordable for the informal urban retail networks it operates in.
Retailers order and pay for goods using TradeDepot’s mobile apps (Android and Whatsapp), USSD or a toll-free number and have them delivered directly to their stores via the company’s fleet of vans and tricycles.
They can also order stock and manage their inventory online, with a number of ways to pay, including digital payments and cash. For consumer goods brands, TradeDepot enables direct-to-retail distribution in the massive informal sector in some of Africa’s busiest cities.
TradeDepot also provides a CRM and data management system that enables suppliers to plan and monitor their sales routes in real time, as well as gain invaluable insights into trade and retail data.
Working with TradeDepot, retailers across Nigeria have increased their revenue and improved their business outcomes as a result of better access to products for their stores. One retailer grew the amount of sales transacted by more than 15x.
Another retailer who was barely breaking even and had seen no real growth in 15 years was able to increase her net monthly margin by almost 100 percent monthly, hire three new employees and is now considering expansion.
Using data and analytics to inform better retail decision making at each stage of the supply chain, TradeDepot has recorded considerable growth since its launch, activating a new store every three minutes, and receiving a retailer order every 4 seconds, on average. The company has also tripled its volume of trade in the last 12 months.
Onyekachi Izukanne, Chief Executive Officer and co-founder of TradeDepot says, “We are excited to strengthen our team and welcome on board some incredible strategic investors and partners, as we double down on our mission to digitize and simplify retail distribution for the continent. Africa’s offline retail market is estimated at $1 trillion, and this new investment allows us to capture an even greater segment of that market.
“We will continue to use data to drive efficiencies and provide an easier stock acquisition service for our 40,000+ retailers, driving down costs for them by negotiating even better deals with our global manufacturing partners, whilst simultaneously providing a better, faster route to market for our suppliers.”
In a bid to help retailers grow their businesses, TradeDepot is set to launch a suite of financial products and credit facilities. Many retailers do not have the collateral that banks demand but by leveraging their trading relationship with TradeDepot, retailers can access the funds they need to buy more goods, scale their businesses and generate more revenue.
Wale Ayeni, Head of Africa Venture Capital Investment at IFC adds, “TradeDepot is a rising star in the African internet landscape, helping digitize a substantial underserved informal retail segment, which is the pillar of economic growth in Africa. The founders’ vision to build a digital platform that improves the unit economics of serving the mass-market is one that we feel privileged to support.”
More than 75 percent of the retailers on TradeDepot’s platform are female entrepreneurs and TradeDepot will offer mentorship and opportunities to link with domestic and global markets, to further support its predominantly female customer base to grow and expand their own businesses.
Hanh Nam Nguyen, Program Manager, speaking on behalf of IFC as implementing partner of We-Fi, said, “Women play a pivotal role in driving economies across Africa, but lack of access to capital, limited market linkages, cultural norms and other challenges often prevent them from achieving the success they want.
“We-Fi financing will incentivize TradeDepot to build stronger women-led small and medium enterprises (SME) retailer and distributor networks, which will support them to become drivers of economic growth in their communities.”
Tidjane Dème, General Partner at Partech said, “we are proud to continue our partnership with TradeDepot as they continue their work to transform the huge informal markets that are present in Africa.
The founders have a wealth of experience that puts them in a great position to execute on their vision, and their approach and results to-date are why we are so excited by the extraordinary entrepreneurs harnessing the power of technology to address issues across the continent.”
Ben Harburg, Managing Partner at MSA Capital said, “TradeDepot is leading the digitization of informal enterprise across West Africa at the most critical touch point – the distribution and sale of essential foodstuffs by SME retailers – driving efficiency improvements, increased service offerings, and costs savings to both consumers and merchants.”
E-Business
SystemSpecs’s Subsidiary Deelaa Becomes Whatadeal

SystemSpecs Holdings Ltd unveiled at the weekend the rebranding of its subsidiary Deelaa to Whatadeal, launching an ambitious digital commerce platform poised to transform travel, events, and e-commerce across Africa.

John Obaro, group managing director, SystemSpecs, and Fela Bank-Olemoh, managing director of Whatadeal
The announcement comes amid a surging demand for integrated digital services in Nigeria and beyond, as the continent’s e-commerce and travel sector stand on the cusp of exponential growth.
The launch event, held in Lagos, demonstrated SystemSpecs’ vision for a seamless, value-centric consumer experience.
This strategic rebrand follows the company’s acquisition of Knit Technologies, amalgamating cutting-edge innovation and industry expertise into Whatadeal—one of four subsidiaries under the SystemSpecs umbrella.
John Obaro, group managing director, SystemSpecs, emphasized that the transformation reflects an unwavering commitment to technological advancement and customer empowerment.
“Whatadeal transcends a mere rebranding—it embodies a dynamic ecosystem designed to deliver unparalleled value and memorable experiences,” Obaro told reporters.
He elaborated, “Our ambition is to ensure that whether you’re organizing an event, procuring tickets, or seeking the finest deals, Whatadeal is your definitive destination. We are also in advanced discussions with leading travel industry players to curate exceptional travel experiences across Nigeria.”
Originally introduced in 2022 as an e-ticketing and marketplace platform, Deelaa catered to both businesses and consumers.
Its evolution into Whatadeal responds to shifting market dynamics, offering an integrated solution for booking flights, securing event tickets, and shopping online.
The platform will be powered by Remita, SystemSpecs’ acclaimed electronic payment and collection system, which underpinned Nigeria’s Treasury Single Account initiative—one of the most extensive implementations of its kind in Africa.
Steering this venture is Fela Bank-Olemoh, managing director of Whatadeal and a SystemSpecs stalwart since 1998.
With over two decades of expertise spanning technology, marketing, and public service, Bank-Olemoh brings a formidable pedigree to the role.
He founded MediaVision Limited, a preeminent sports marketing firm in Nigeria, before serving as Special Adviser on Education to the Lagos State Governor from 2015 to 2019 and later as Senior Special Assistant on Education Interventions to Nigeria’s President from 2019 to 2023.
Bank-Olemoh articulated the platform’s ethos: “At Whatadeal, we hold that exceptional experiences and valuable offers should be effortless, not convoluted. Our mission extends beyond merely facilitating deals—we are cultivating an ecosystem that nurtures engagement, trust, and enduring value for our customers.”
He added, “Whether you’re arranging travel, acquiring event tickets, or purchasing essentials, you deserve an intuitive, rewarding experience that consistently delivers excellence. Whatadeal is dedicated to realizing that vision.”
SystemSpecs aims to establish Whatadeal as the preeminent one-stop platform for African consumers, blending convenience with competitive offerings.
With its fusion of Knit Technologies’ innovations and Remita’s robust infrastructure, Whatadeal is poised to redefine digital commerce on the continent.
E-Business
Cybersecurity Firm Says It’s Time to Back it Up, As the World Marks World Backup Day

How much do you trust your device memory? Definitely more than you should. According to the statistics only 33% of users back up their data regularly, and more than 77% of people have already experienced data loss.
An annual tradition which started as a simple reddit post back in 2011, World Backup Day is celebrated on 31st March 2025 to provide a reminder of the importance of backing up data. To mark the occasion, Kaspersky shares practical advice on how to create new beneficial digital habits to ensure your backups are safe.
The first question that should be taken into consideration is: what exactly needs to be backed up? The answer seems to be lying on the surface.
The more you back up – the better. Work-related documents, family photos, financial info, health records, logins and passwords, and even content shared within messengers. In fact, all of this needs to be backed up using reliable storage methods.
There are several reasons why it is recommended to copy as much data as you can.
First of all, the device on which the information is stored may simply be lost, stolen or damaged. For example, UK’s South Western Railway reports that at least 5 smartphones are lost per day on its network, which is almost 1800 devices per year.
Among other potential threats to data safety are ransomware attacks. This is a type of malware that blocks a computer and then demand a ransom for its release. In some cases, even paying the ransom does not help to restore data on an infected device.
Despite these substantial risks, in everyday life it’s almost impossible (and to some extent pointless) to back up everything. Our devices contain gigabytes of information, most of which has no value. Creating backup storages of such a scale is time-consuming and expensive.
The main advice is to rank data correctly. Try to assort the items needing to be backed up by evaluating their relevance, recency and recovery options.
If a file, record or password is outdated or may be replaced by a newer version, backup may be safely ignored. If it is a new or highly valuable piece of information, backing up is necessary and preferably there should be more than one copy.
The art of backup
The next step towards data loss prevention is finding the suitable backup method to select. Obviously, it depends on multiple factors: type of data, type of device, pricing, user’s personal preferences and habits.
The most popular backup options are generally cloud or external storage services. Both of these methods have their pros and cons. For example, cloud services give you instant access to information wherever you are, but they require regular subscription payments.
At the same time, external hard drives are reliable storages which only require one payment, but access to information on these devices is only possible when they are at hand.
Therefore, cloud storage is regarded as the perfect option for storing files and photos which should always be available in a few clicks, while external storage services are suitable for data archives and huge files, such as movies or videos which you rarely use. Overall statistics show that nowadays most people choose cloud technology as their main storage option.
Specific data such as passwords, ID or financial details require even more secure storage methods.
Among the potential solutions password manager is an option that protects sensitive personal information, prevents its loss and provides immediate access to it at any time. Automatic filling of authentication and banking data means users do not have to memorise important information and reliably protects data from being compromised.
While choosing backup and storage options it’s highly recommended to consider all the aspects. To get backing up into a real habit, the method should not only be reliable and effective, but also suitable and convenient for you personally.
Enhanced protection
As it has been already mentioned, single manual backup might not be enough to protect data from being lost. World Backup Day is the right time to remember that data might be vulnerable and take some proactive steps to secure it. Kaspersky has created some tips on how to do it effectively:
- Follow the rule 3-2-1. One of the most popular backup strategies is to have at least 3 copies of important data, store it on 2 different storage types, and make at least 1 copy off-side (cloud or external physical location).
- Set up automatic backups. Most devices and services have a preinstalled backup function, which automatically creates a backup if you forget to make a copy in time.
- Use a reliable security solution. Comprehensive digital protection with a specific anti-ransomware protection mechanism, such as in Kaspersky Premium, prevents device infection and protects your data from both local and remote-access ransomware attacks.
- Make regular checks. It’s necessary to test your backups workability on a regular basis to notice the malfunction in time and fix it.
E-Business
FG Launches Online Visa Approval Centre

Dr. Olubunmi Tunji-Ojo, minister of Interior, has announced the launch of an Online Visa Approval Center to eliminate bureaucratic bottlenecks and reduce corruption in the visa application process.
Commissioned by the President in December, the new system ensures that applicants no longer need to visit a visa office, know anyone in the system, or lobby for approvals.
At a stakeholders’ sensitisation workshop on the implementation of the Nigeria Visa Policy (NVP) 2025, yesterday in Abuja, Dr. Tunji-Ojo said the visa is considered a very important document by the government because it is an instrument of migration management and an instrument of economic development.
The minister explained that Nigeria has to strike a delicate balance between national security and, of course, the ease of migration.
“And we think that it’s something that we can do and something we will do.
“We don’t have a physical Visa Approval Center. If you apply for a Nigerian visa anywhere in the world, you do so online. We process it here in Nigeria, and if approved, you receive your e-visa in your email,” he explained.
To enhance efficiency, the government has set a 48-hour deadline for processing e-visas.
“It is unprofessional and unacceptable for the Nigeria Immigration Service not to approve or provide feedback within 48 hours,” the minister stated.
“It breaks my heart that people need to lobby to even get visas to Nigeria. It shouldn’t be so. It shouldn’t be.
“For anybody that is qualified, for anybody that wants to do legitimate activities in Nigeria, such people should be able to come to Nigeria easily. And this is why we are opening our space. Mr. President is interested in foreign direct investments.”
Further, he said Nigeria is interested in partnering with the rest of the world to develop its economy but, “We can’t do that when we allow bottlenecks to hold us down. So these reforms, basically, are aimed at opening our space, enhancing national security, and we hope that the primary responsibilities of the visa scheme will be achieved.”
Kemi Nandap, controller general, Nigeria Immigration Service (NIS), said the NIS would fully digitize its e-visa platform and reduce visa classifications from 79 to 44 to enhance accessibility, transparency, and efficiency in the new visa policy.
She said, “At the core of this policy is the new e-visa platform—a fully digitized, centralized system that revolutionizes how foreign nationals interact with our country’s entry procedures. As part of this transformation, the Nigerian Visa Policy 2024 underwent a comprehensive review, resulting in a significant reduction in visa classifications from 79 to 44.
“These categories have been logically grouped to simplify procedures, reduce complexities, and greatly improve the user experience. Importantly, we have maintained the original purpose and intent of each visa class throughout this reform.”
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