Why we acquired Konga – Zinox

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By SAMSON AKINTARO

In a deal that is bound to change the e-commerce landscape in Nigeria, the Zinox Group, an integrated Information Communication Technology (ICT) solutions conglomerate and Original Equipment Manufacturer (OEM), has said its acquisition of Konga, was driven by its strong desire to revolutionize e-commerce on the African continent.

Speaking on the transaction that saw Zinox acquired 99 percent shares of Konga, the Head of Corporate Communications, Zinox Group, Mr. Gideon Ayogu said: “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 have 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.

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.”

According to details of the deal, Zinox Group, one of Africa’s biggest technology group would assume ownership of the e-commerce platform, Konga.com which remains as one of the biggest players in the sector; KOS-Express, the world class logistics arm of the business and KongaPay, the company’s integrated mobile money payment channel with over 100,000 subscribers.

The acquisition is seen as a major development that could see e-commerce in Nigeria finally unlock the massive revenue potential in the global multi-billion-dollar industry. In addition, the move is expected to see Zinox make a bold return to an industry it pioneered in Nigeria with the launch of BuyRight Africa.com which was challenged by the absence of credit card and e-payment infrastructure when it was launched over 12 years ago.

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