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E-Business

Yudala – The Next Big Thing

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For the first time ever, Nigerians will experience a consolidated online and retail chain which will radically transform the shopping landscape in the country and the continent at large.

With its considerable financial capacity and technology back-bone, Yudala Limited will hit the market with the concrete ambition of becoming the market leader in trade and commerce on the continent.

With its headquarters in Nigeria, Yudala Limited will carve a niche for itself by being the first organization to combine an online shopping platform with retail stores located in major cities across the country, with further expansion into other major African capitals.

Backed by its multi-pronged yet standardized business model, the company will infuse a measure of coordination to the relatively unstructured online business space and deliver world class products and services on the online and offline platforms.

YUDALA promise:
Platform Mix – With an enviable status as Nigeria’s first and biggest online and retail chain, Yudala will roll out four Experience and Smart stores in Lagos in the first week of July, while ensuring a nationwide spread in little time with the addition of a new store every other week in major capitals in the country and all over Africa.

With a mandate to launch 150 Stores in the first 18 months of operations, the company will ensure that no region is left out in the high quality experience that Yudala stands to offer.

While the company will place great emphasis on cosmopolitan consumers, Yudala also possesses the requisite network capacity to reach the unreached; those that are not served by the few online platforms, by offering quality of service with valid guarantees that is presently non-existent in the Nigerian online and retail business space.

In view of this, there is also an orchestrated plan to reach every nook and cranny of the country with a targeted total of 512 shops in Nigeria’s local government councils within three years.

Products: Yudala will focus on the best of ICT products as well as lifestyle and healthy living goods from the biggest and most renowned brands in the first 6 months before launching other mandates.

The company will place a huge premium on making available only genuine, pocket-friendly products sourced directly from the manufacturers. With Yudala, there will be no imitations or grey products as every item purchased off its online or offline platform will come with a certified guarantee. More importantly, the Yudala Management will take responsibility for all products purchased from and delivered by Yudala.

Quality of Service: On the retail side, the company shall differentiate itself by offering support on warranty as well as out-of-warranty products for customers which no other competitor offers. It is our determination to reduce wastages in Nigeria and by extension Africa.

We are not just an online trading platform. We will roll out our mandate soon with the launch of 4 Experience and Smart shops in Lagos same day in The Palms, Lekki; Medical Road, Ikeja; Idowu Martins, Victoria Island and Gbagada in the first week of July.

On the online platform, the company boasts of a robust technology back-bone, man-power expertise and a two-year test run of its state-of-the-art website designed with state-of-the-art functionalities which will offer visitors an interactive, engaging and multimedia user interface.

Furthermore, the platform will offer a suite of customer-friendly payment options including pre-paid and payment-on-delivery choices.

Founders – Established by a team of brilliant and well informed Nigerians and backed by competent investors of highest integrity within and outside the country, Yudala will focus on wealth creation for the majority of Nigerians.

Yudala will function as a Public Trust, with the ambition of employing a massive 50,000 Nigerians within three years. This is in line with the Yudala mantra of ‘best wishes, peace and prosperity”.

The Retail Arm is anchored by Stanley Uzoechina, a foremost manager and industry expert with years of outstanding experience while Prince Nnamdi Ekeh, serial entrepreneur and online enthusiast will drive the online business, with Tunde Kehinde, one of the founding CEOs of Jumia Nigeria functioning as a non-executive Director.

 


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E-Business

BPP Partners NDPC to Strengthen Data Protection

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Dr Adebowale Adedokun, director-general, Bureau of Public Procurement (BPP), has reaffirmed the bureau’s commitment to data protection in Nigeria.

BPP Partners NDPC to Strengthen Data Protection

He disclosed this in a statement at the weekend by Zira Nagga, head of Public Relations, BPP, following a courtesy visit by a delegation from the National Data Protection Commission (NDPC).

Adedokun stressed that data protection is vital to Nigeria’s economy and development, particularly in areas such as demography, health, education, and other key sectors.

He emphasised that no country should leave its data unprotected, as it plays a crucial role in future planning and national development.

“Data governs the world. It is essential to technological progress and must be protected for a country or business to be taken seriously,” he said.

Adedokun described the visit, aimed at fostering partnership on data policy implementation and protection, as timely and aligned with national goals.

He said the BPP would collaborate closely with the NDPC to boost data development, capacity building, and enhance the procurement system.

“The BPP will support compliance as part of the ‘Nigeria First’ Policy, although it is not a core procurement eligibility requirement,” he explained.

He suggested a hybrid training model to help build strong capacity in data protection, privacy awareness, and policy understanding.

According to him, a dynamic training approach will reduce logistics costs and improve public confidence in data safety and privacy.

Dr Vincent Olatunji, CEO, and national commissioner, NDPC, praised Adedokun and the BPP for supporting data protection initiatives.

He said the partnership supports President Bola Tinubu’s vision and will strengthen data privacy across Ministries, Departments, and Agencies (MDAs).

“The collaboration will create awareness and train BPP staff to ensure a firm grasp of data protection principles and policies,” he stated.

Olatunji said the NDPC would establish a working group to finalise a Memorandum of Understanding beneficial to both institutions.

He added that President Tinubu signed the NDPC into law on 12 June 2023 to uphold citizens’ rights and protect national and business data.

Olatunji also noted that strict legal measures were in place to enforce data protection and ensure full compliance nationwide.

Both agencies agreed to form a team to sign the MoU and focus on capacity building and data management in procurement and beyond.

 

 


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E-Business

FG Mulls Fibre Optic Layout to Bridge Internet Gaps

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President Bola Tinubu said that his administration has initiated a project to install fibre optic cables across the country, aimed at enhancing the socio-economic development of Nigeria.

FG Mulls Fibre Optic Layout to Bridge Internet Gaps

His plans were contained in a speech he delivered at a joint session of the National Assembly in commemoration of Democracy Day on Thursday, June 12.

He said the fibre optic layout is part of other projects being embarked on.

“In addition, we have embarked on an ambitious project to lay fibre optic cables across the nation, a transformative step toward bridging the digital divide and fostering greater connectivity.

“This initiative promises not only to enhance the speed and reliability of internet access but also to revolutionise how businesses operate, how students learn, and how communities stay connected,” Tinubu stated.

He maintained that by extending this critical infrastructure, his government is empowering entrepreneurs, enabling digital education, and providing the tools for our youth to compete in a globalised world.

In a most recent report on Internet connectivity, The ICIR pointed out how Nigeria has faced setbacks in its deployment of fibre optic cables and needs a transformation.

The challenges revolve around vandalism, inadequate coordination between road construction and telecom infrastructure, and varying right-of-way (RoW) charges across states.

Among industry experts, these issues impact network outages, increase repair costs, and hinder broadband expansion efforts.

It has also further threatened the digital economy, leading to slower Internet speeds, dropped calls, and unreliable connectivity among others.


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E-Business

African Startups Raised $345m in Funding in May

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African startups raised more than $345 million across 65 deals in May, more than double the amount raised in the same period of last year, according to a report by Briter, a research and business intelligence firm.

The report disclosed that both the number of deals and participating companies declined, confirming a growing trend of fewer companies raising funds in larger sizes.

It said fintech attracted the highest share of funding in May, accounting for 34 percent of the total, while cleantech followed closely, driven by a debt deal from Sun King. The company raised $80 million (in local currency) to expand clean energy access in Nigeria.

“Equity remains the primary instrument in terms of total value. There’s no doubt about it; in fact, equity deals with disclosed amounts captured more than half of the total funding volume in May.

“However, debt financing is increasingly proving its weight. Although it accounted for only 8 percent of all deals, it represented 32 percent of the total funding, highlighting the typically larger size of debt transactions. With the rise of specialised vehicles targeting early-stage businesses, debt is becoming an increasingly important part of Africa’s innovation funding landscape,” it said.

Briter’s report added that grants continued to play a vital role in early-stage support, especially in the education technology (EdTech) sector. The Mastercard Foundation led the pack in grant activity, funding a new cohort of EdTech innovators in Nigeria and Kenya. Each selected startup is set to receive $100,000 in grant funding, in addition to mentorship and business development support.

Multilaterals also made a strong showing in May, it said. The Multilateral Investment Guarantee Agency (MIGA), a World Bank Group member, issued a $179.6 million guarantee to CleanTech firm KOKO Networks. The support will help scale its clean energy solutions across Kenya.

“This deal not only demonstrates growing international confidence in African climate ventures but also signals a promising pathway for other asset-intensive startups in clean cooking, agriculture, and renewable energy,” the report said.

From a geographic perspective, Egypt emerged as the continent’s fundraising powerhouse for the month, contributing 51 percent of all funding raised. The country recorded 12 deals across equity, debt, and bond instruments. Notably, FinTech platform MNT-Halan raised $50 million through a bond issuance, further illustrating the diversification of capital-raising mechanisms in the region.

Outside Egypt, funding was distributed across Africa’s three other key markets, which are Egypt, Nigeria, and Kenya, with limited activity recorded in countries such as Ghana, Tunisia, Morocco, and Uganda, each registering between one and three deals.

In terms of exits, the African tech landscape continues to mature. Three companies—Baobab+, Qardy, and Shopa—were acquired in May, bringing the total number of exits this year to 22. This already surpasses last year’s count for the same period. Qardy was acquired by Catalyst Partners Middle East (CPME) in a disclosed deal valued at $23 million, the report added.

 


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