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Nigeria’s wholesale electronics startup, Eze raises $3.7m capital

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Nigeria’s wholesale electronics marketplace known for its large stock of used and new electronics, Eze, has raised $3.7 million in seed funding to enable it develop its technology infrastructure, broaden its product offering and expand into new markets in Africa, Europe and South America.

According to the CEO and co-founder of Eze, Josh Nzewi, the seed funding round was “led by Right Side Capital Management, with participation from C2 Ventures, Boro Capital, EVPI Investments and other angel investors.”

Nzewi said the funds would be utilized judiciously to develop the startup’s technology infrastructure, broaden its product offering and expand into new markets in Africa, Europe and South America.

“Our mission is to power unfettered access to consumer electronics across the world, enabling users to maximise their potential with the experiences provided by these devices.

“We are thrilled to have the support of our investors, and we look forward to using this funding to enhance our platform and provide even more value to our customers.

“Our goal remains to become the go-to destination for B2B buyers and sellers in the electronics industry, especially in emerging markets, and this investment will help us achieve that goal,” Nzewi said.

Eze is one of the biggest B2B wholesale marketplaces for smartphones, laptops, tablets, and other electronics, and seamlessly connects thousands of buyers from across the world to over 200,000 SKUs that have been vetted and tested, and can be purchased at the click of a button, according to the platform’s website.

“With Eze, buyers can access unbeatable wholesale prices, transparent product quality grading, payment in their local currency, extended warranty and other services designed to support effective and efficient trading,” it said.

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Again, Starlink raises prices of its services in Nigeria

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Elon Musk’s satellite internet service provider, Starlink, has again jacked up the prices of its services in Nigeria after an earlier increase caused uproar among customers.

The service provider, in a statement released on Friday, informed its Nigerian customers that it would raise its monthly subscription prices, with the new rates set to take effect on January 27, 2025.

Under the new pricing regime, the lowest subscription tier will increase significantly from ₦38,000 to ₦75,000 per month, while mobile global roaming service will now cost ₦717,000 monthly.

The company stated that new subscribers will immediately pay the adjusted prices while existing customers will see the changes reflected in their upcoming bills.

In an email sent to users, Starlink said:

“To continue enhancing the Starlink network and provide reliable, high-quality service across Nigeria, we are adjusting our monthly subscription prices.

“These changes are part of our ongoing commitment to investing in the infrastructure needed to improve your experience with Starlink.”

This is the second time Starlink has attempted a price hike in Nigeria. The Nigerian Communications Commission (NCC) has rejected its previous increase in October on the grounds that the company had not sought the necessary regulatory approval.

However, insiders believe the NCC is set to approve an increase in the first quarter of 2025, which gives credence to insinuations that Starlink may have gotten an approval for the price increments.

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Safaricom Ethiopia launches 4G network in Gambella

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Ethiopia’s second largest telecom provider, Safaricom Telecommunications Ethiopia P.L.C., has announced the official launching of its 4G network services in Gambella and other surrounding areas.

The launching of the 4G network in the region, according to Safaricom Ethiopia CEO, Wim Vanhelleputte, highlighted the significant impact that enhanced telecommunications infrastructure could have on the region’s social and economic progress.

“In line with our commitment to digital education, Safaricom Ethiopia donated 20 laptops and 4 routers, including six months of free internet, to two high schools in Gambella City, supporting digital literacy and educational opportunities for local students,” Vanhelleputte stated.

Vanhelleputte reaffirmed Safaricom Ethiopia’s commitment to expanding its reach and ensuring that more regions gain access to reliable and high-speed internet.

“The introduction of the 4G network in Gambella is designed to deliver significant advantages to the local community,” he said .

“Enhanced connectivity will open doors to better access to information, education, and healthcare services. Additionally, it will create new opportunities for businesses and entrepreneurs, driving economic growth and development within the region.

“Safaricom Ethiopia’s move into Gambella aligns with its broader strategy to extend 4G coverage to more areas, furthering its mission of fostering nationwide connectivity,” the CEO added.

Alemitu Oumud, President of the Gambella Region who also spoke at the event, stated that, enhanced infrastructure is driving positive social and economic growth in our region.

“We commend Safaricom Ethiopia for its contributions to job creation, improving connectivity, and making Gambella a more attractive destination for investment,” Oumud said.

He stressed the potential of the new 4G network to drive business activities, attract investments, and foster entrepreneurship in the region.

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