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Zinox Buys Konga

By Modupe Gbadeyanka

After months of negotiations, Nigerian integrated Information Communication Technology (ICT) solutions conglomerate and Original Equipment Manufacturer (OEM), Zinox Group, has acquired popular indigenous e-commerce firm, Konga.

The deal, according to reports, will see Zinox take control of all subsidiaries of Konga and give its main competitor, Jumia, a run for its money.

Confirming the development, Head of Corporate Communications at Zinox Group, Mr Gideon Ayogu, disclosed that, “Konga is a world-class, professionally-run company whose landmark strides in the sector has gone a long way in ushering millions of Nigerians into the ease and convenience of online shopping and boosting the conduct of e-commerce in the country.”

“Today, many Nigerians can attribute their first experience of e-commerce to Konga.com and we are excited to be a part of this remarkable story.

“Many shoppers can also attest to the speed and efficiency in delivery that characterizes Kos-Express, the company’s logistics arm, which is arguably the best in the sector at the moment.

“Our ambition is to up the tempo by revolutionising e-commerce on the African continent, with Konga at the fore-front of this initiative. In addition to positioning the business on a path of profitability in the short term, our long term plans are focused around seeing Konga well established in other African capitals.

“Furthermore, we will be unveiling a lot of new initiatives soon and we advise shoppers and merchants alike to look out for these innovations which will radically reshape the average customer experience of e-commerce in Nigeria and on the continent,” Mr Ayogu said further.

It was gathered that the acquisition has been approved by Securities and Exchange Commission (SEC).

It is believed that with the deal, Zinox will integrate Konga and Yudala, owned by Mr Nnamdi Ekeh, son of the Chairman of Zinox Group, Mr Leo Stan Ekeh.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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