Jumia’s stock dropped 28%, falling from $3.88 to $2.82, after reporting continued losses in 2024 despite cost-cutting efforts. The company’s market capitalization shrank to $285.2 million, a steep decline from $1.3 billion in Q3 2024. Revenue fell 10% to $167.5 million, with Q4 earnings down 23% year-over-year. While order volume increased by 11%, Jumia’s logistics…

For the first time, Nigeria’s internet consumption exceeded 1 million terabytes in January 2025, highlighting the country’s increasing digital dependence. However, data usage dropped sharply to 27,475 terabytes, down from 94,502 terabytes in December 2024. The decline may be linked to recent 50% data tariff hikes by telecom giants MTN Nigeria and Airtel Nigeria, which…

Paratus Namibia has detected unauthorized activity on its internal IT systems, leading to operational disruptions. The company’s incident response team, along with international cybersecurity experts, is actively investigating and working to restore affected systems. To contain the attack, all impacted systems were taken offline, while authorities have been notified. Paratus Namibia reassures stakeholders that it…

OpenAI, backed by Microsoft, has announced that ChatGPT can now browse the internet, eliminating its previous September 2021 knowledge cutoff. Websites will have control over how ChatGPT interacts with their content. Currently available to Plus and Enterprise users, the Browsing with Bing feature will soon roll out to all users. This update follows OpenAI’s recent…

Microsoft has committed $1 million to train one million Nigerians in AI and digital skills over the next two years. Announced in Lagos, this initiative is part of the company’s broader African strategy, aiming to boost youth employability through AI and cybersecurity training in partnership with Tech4Dev and Data Science Nigeria. This investment aligns with…

Jumia’s revenue fell by 10% to $167.5 million in 2024 as the e-commerce giant continued its cost-cutting efforts. However, its operating loss also decreased by 10% to $66 million, reflecting improved efficiency. The company exited the South African and Tunisian markets in 2023 to focus on larger economies like Nigeria, Egypt, and Morocco. Despite this,…