Zinox Group, popularly known for its Information Communication Technology innovative solutions has acquired Konga, one of the largest e-Commerce sites in Nigeria. The news was confirmed as Sim Shagaya, founder and Chairman of Konga send Leo Stan Ekeh of Zinox Group his good wishes.
— Sim Shagaya (@SimShagaya) February 3, 2018
According to ThisDay, the Head Corporate Communications for Zinox Group Gideon Ayogu, noted that the company has had its sights on the e-commerce space in Nigeria for a while now.
“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.”
The acquisition of Konga is not the first move for Zinox Technologies as they had previously managed BuyRightAfrica.com. In addition to this, Yudala, an on and offline retail chain is owned by Nnamdi Ekeh, the son of Zinox’s founder. A merger between these two companies may birth an e-Commerce giant.
Founded in 2012, Konga has struggled to stay afloat in the e-commerce space until 2017, when they announced that the company was now profitable. However, in recent times, most of the company’s operations have been automated, while shifting to a pre-pay only model, stopping Pay on Delivery.
Perhaps the acquisition, in addition to some investments may position Konga as the biggest e-commerce site in the country, effectively ousting Jumia, its longtime rival.