Rifugio Celebrates 10 Years of Phenomenal Growth, Plans Expansion Across Africa
Peter Uzoho
Rifugio Communications Limited, a leading Nigerian electronics retail and enterprise solution provider, has celebrated its phenomenal growth, technological innovation, and resilience which it recorded over the last 10 years of its establishment and operation.
With eyes now set for more growth and new wins in the next chapter of its journey, Rifugio has also reaffirmed its commitment to expanding across other countries in Africa.
Speaking at the company’s 10th anniversary celebration in Lagos, the Founder of Rifugio, Dr. Kayode Thomas, described the anniversary as a day of reflection and celebration, while highlighting the company’s remarkable growth trajectory since its establishment in 2015.
Reflecting on the company’s journey, Thomas acknowledged the challenges faced over the past decade, including the impact of naira devaluation and the COVID-19 pandemic, which disrupted consumer purchasing power.
“The naira devaluation hit retailers hard, making devices expensive and slowing sales. During the pandemic, people couldn’t buy as much, but later realised the need for better devices for virtual meetings — and business picked up again,” he said.
According to him, the company’s confidence to keep expanding despite economic challenges comes from Africa’s large youth population and growing appetite for technology.
“Our vision is to be present in every state and eventually across Africa. We’re already in Lagos, Oyo, Abuja, and Kaduna, but our eyes are set on expanding further — into other regions where the demand for quality technology is strong.
“Ironically, what discourages others is what gives me confidence. Africa’s potential is enormous — the people are here, the demand is here, and we must keep creating jobs and opportunities”, Thomas stated.
He said Rifugio was formed with a vision to be a leading electronics retail and enterprise solution provider in Nigeria, adding that from a humble beginning with one outlet in Lekki, they have grown phenomenally to over 24 outlets and still expanding.
“We’ve survived 10 years in a challenging market. By God’s grace, in the next 10, we’ll not just be in every state in Nigeria, but across Africa — empowering people and redefining the electronics retail experience,” he said.
