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Showing posts from January, 2019

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Acquisitions, Closures and other Business News that Rocked Nigeria in 2018

Apologies..This is coming later than planned🙂.....
2018 wasn’t exactly a great year for the Nigerian economy. The drought in the economy did not just affect small and medium scale businesses; it also affected some multinational companies.
2018saw some foreign investors pull their investments out of the country . It also saw the acquisition of some companies that wereassumed to be doing well. Heck it saw the richest man in Africa loose about N2B. Let’s count down the shocking events that rocked the business world in 2018.
Konga  When word got out that premiere online retail giant, Konga was going to be purchased by Zinox last year, so many people were shocked;but not people that have been following the sector though. Any keen observer will tell you they knew something was off the moment they reportedly laid off about 60% of their staff. They also made some changes in their business operations; like ending the 'pay on deliver option'. This may have been done to curtail the lo…

Dealdey Shuts Down!!

And another one bites the dust!
I was looking for affordable hotels in Lagos and I decided to search via Dealdey. The site came up relatively  blank..  At first, I though I had slow network. I was already cu*ssing out my ISP thinking the internet service was slow again  when I observed that other websites were loading just fine.
I did a lil bit of digging and found out that Dealdey has shut down. Can I say I'm  entirely surprised by the news? Well no!.  This is considering the fact that sister company, Konga was acquired by Leo Stan Ekeh's Yudala last year. Both Dealdey and Konga were founded by Sim Shagaya.
This news does not paint a bright picture for Nigeria's e-commerce industry. So many have shut down due to what they describe in summary as their high overhead costs and consumers partial mistrust of online shopping. Nigerians are still comfortable shopping at Oshodi.
This news is coming at a point when Nigeria is experiencing high rate of unemployment.So many people …

Jeff Bezos and MacKenzie Bezos Divorce....Amazon, Real Estate; What is really at Stake?

The current richest man in the world and head of Amazon, Jeff Bezos and his wife, MacKenzie Bezos , have both announced that thy would be divorcing. The couple who have been married for  about 25 years are said to have been separated for a while.

This is the tweet that set shock waves round the financial and business world.......

pic.twitter.com/Gb10BDb0x0 — Jeff Bezos (@JeffBezos) January 9, 2019
 As for what is involved, in what is going to be the biggest divorce settlement in history right now....... an estimated $137 billion is at  stake.

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