|Sim Shagaya of Konga|
|Leo Stan Ekeh of Zinox|
Key watchers of trends in the industry revealed that this acquisition is sure going to be an interesting one because of the intricacies involved.
For one, Zinox has a relationship with rival, online e-commerce company; "Yudala. It is believed to belong to the son of the CEO of Zinox, Leo Stan Ekeh.
Konga on it's part is made up of KOS-Express, the logistics arm of the business and KongaPay, the company’s integrated mobile money payment channel with over 100,000 subscribers.
It is also believed that Konga may own another big player in the e-commerce sector, Dealdey. As at now, I can't confirm if Dealdey is part of this package.
This deal comes 5 years after South African media giant, Naspers acquired 50% stake in the company(Konga) in 2013.
Confirming the deal, Head of Corporate Communications, Zinox Group, Mr. Gideon Ayogu revealed the move will revolutionise e-commerce on the African continent.
“We have always had an interest in Konga and another big one you know very well but our priority was Konga first because of her integrated nature of four quality companies in one.
“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.”
He added: “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.”