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Konga’s CEO discloses secrets of firm’s huge growth

The Co-CEO of Konga, Prince Nnamdi Ekeh has disclosed how the company made it into becoming a clear leader in the competitive e-commerce market.

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Konga’s CEO discloses how the company positioned itself as leading e-commerce market 

The Co-Chief Executive Officer of an e-commerce company, Konga, Prince Nnamdi Ekeh has disclosed how the company made it to the top as a clear leader in the competitive e-commerce market.

While speaking during the CNN Marketplace Africa on the sidelines of the first Creative Africa Exchange weekend in Kigali, Rwanda,  Ekeh said that the omnichannel structure of Konga in which it operates both online and offline is one of the advantages that has placed the company upfront.

Nnamdi Ekeh with the CNN's Elena Giokos

He also said that the company’s state-of-the-art regional warehousing facilities had enabled it to retain inventory in diverse states and locations in the country as well as sound knowledge of the local business terrain.

‘‘Konga is best positioned as the leader in the Nigerian e-commerce market. We are not just an e-commerce company but we run an omnichannel model with over 30 physical stores spread across Nigeria.

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“So, we are the closest to the people. Also, we are seeing huge growth in the business and in our customer base. Between last year and this year, the business grew by almost eight times,’’ he said.

According to him, the key is growing the revenue while being able to manage the costs. “That is the only way for sustainable growth. Last year, we have been able to grow revenue by eight times but we have also been able to reduce our costs by 65%. That is quite huge,’’ Ekeh said.

[READ MORE: Konga unveils new USSD features, ATM card-less initiative)

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The Kxpress logistics platform: Speaking further, the Konga boss made known that the company’s logistic platform, Kxpress was established to resolve the challenges of logistics in the industry. He said that building this platform had helped the Konga brand add value because other players in the industry also use it to deliver their products to customers.

“We built a logistics platform working with franchisees in local areas. If you understand the dynamics of local villages in Nigeria, most people know each other. As long as we had the name and the phone number of the person who requires the product, someone in the local village knows that person. So we partnered with local people and empowered them to deliver to the last mile for us.

 ‘‘Today, we have built Kxpress, our logistics platform, to the point where we are not only delivering for Konga but for other partners. That’s where you begin to add value because not only Konga has that problem.

” A lot of people have the same problem. People who sell on social media have that problem too. So, we are building a platform not just for ourselves but for the entire industry. With that, we are able to scale much quicker.’

When asked about Konga’s expansion plans, Ekeh noted that the company’s goal was to dominate Nigeria first of all before expanding to other African countries.

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Chidinma holds a degree in Mass communication from Caleb University Lagos and a Masters in view in Public Relations. She strongly believes in self development which has made her volunteer with an NGO on girl child development. She loves writing, reading and travelling. You may contact her via - [email protected]

2 Comments

2 Comments

  1. Jonathan

    January 21, 2020 at 1:23 pm

    lol who does this guy think hes fooling?

  2. George

    January 21, 2020 at 2:05 pm

    Not sure I read any secrets in this interview. The caption is a little bit off. It should read “startegies” or “ideas behind growth sprout ”

    Thanks.

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Coronavirus

COVID-19 Update in Nigeria

On the 3rd of December 2020, 343 new confirmed cases and 2 deaths were recorded in Nigeria

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The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 68,303 confirmed cases.

On the 3rd of December 2020, 343 new confirmed cases and 2 deaths were recorded in Nigeria, having carried out a total daily test of 7,101 samples across the country.

To date, 68,303 cases have been confirmed, 64,291 cases have been discharged and 1,179 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 779,708 tests have been carried out as of December 3rd, 2020 compared to 756,237 tests a day earlier.

COVID-19 Case Updates- 3rd December 2020,

  • Total Number of Cases – 68,303
  • Total Number Discharged – 64,291
  • Total Deaths – 1,179
  • Total Tests Carried out – 779,708

According to the NCDC, the 343 new cases were reported from 14 states- FCT (123) Lagos (106) Kaduna (72) Nasarawa (14) Rivers(5), Bauchi (4), Imo (4), Ogun (4), Ekiti (3) Edo (2), Oyo (2), Plateau (2) Akwa Ibom (1) and Kano (1).

Meanwhile, the latest numbers bring Lagos state total confirmed cases to 23,545, followed by Abuja (6,991), Plateau (3,904), Oyo (3,730), Kaduna (3,245), Rivers (3,001), Edo (2,705), Ogun (2,237), Delta (1,824), Kano (1,799), Ondo (1,728), Enugu (1,332),  Kwara (1,110), Ebonyi (1,055), Katsina (1,030), Osun (947), Gombe (938). Abia (926), Bauchi (778), and Borno (745).

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Imo State has recorded 681 cases, Benue (496), Nasarawa (493), Bayelsa (456),  Ekiti (377), Akwa Ibom (340), Jigawa (331), Niger (298), Anambra (285), Adamawa (261), Sokoto (166), Taraba (163), Yobe (100), Kebbi (93), Cross River (90), Zamfara (79), while Kogi state has recorded 5 cases only.

READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

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The movement restriction, which was extended by another two weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.

On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.

READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

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Energy

Engineer Sanusi Garba assumes office as Chairman of NERC

The new NERC boss has assumed office today in an investiture event witnessed by other Commissioners of the Commission.

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Engineer Sanusi Garba, today, December 3, 2020, formally assumed office as the Chairman of the Nigerian Electricity Regulatory Commission (NERC).

This is according to the statement issued by the media team of the NERC via the official Twitter handle of the Commission.

Engineer Garba whose appointment was confirmed by the Nigerian Senate on Tuesday will be replacing Professor James Momoh, the outgoing chairman of the Commission.

Speaking at the handover ceremony today, the New Chairman of the Commission recognized the efforts and the hard work of Prof. Momoh and thanked the outgoing chairman for his contributions to the development of the Commission and the sector in general.

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However, Professor Momoh on his part pledged his continuous support to the Commission and thanked President Muhammadu Buhari for the opportunity to serve the country.

What you should know

  • The new Chairman of Nigerian Electricity Regulatory Commission (NERC), Engineer Sanusi Garba is a seasoned professional in the Nigerian Energy Supply Industry (NESI), and also a top officer in the Commission.
  • Prior to his nomination as the Chairman of NERC, Garba served as the Vice Chairman of NERC, under the leadership of Prof. Momoh. He also served as the Chief Executive of Katsina Steel Rolling Co. Ltd and the Director (Power) in the Federal Ministry of Power with responsibility for the Generation, Transmission and Distribution aspects of the electricity industry.
  • He also served as Executive Director (Generation) at the Niger Delta Power Holding Co. Ltd during which he provided technical and commercial leadership for the efficient operation of seven (7) NIPP thermal power plants.
  • Engr Garba, who is a seasoned professional has served on many Federal Government Committees including the Presidential Committee on Power Sector Reform (2007/8) and the Presidential Task Force on Power (2009/10).

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ENDSARS

#EndSARS: Sanwo-Olu gifts families of slain police officers N10 million each

Governor Sanwo-Olu has compensated the families of slain police officers with the sum of N10 million each.

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Sanwo-Olu to stop pension for former governors, deputies, #EndSARS: Judicial Panel of Inquiry and Restitution to include Lekki toll gate incident – Sanwo-Olu, Lagos approves resumption of all classes in public, private schools, Lagos takes major step towards delivery of Fourth Mainland Bridge, Lagos to construct rail line to airport terminal for international passengers, COVID-19: Lagos State to begin curfew on Sunday to disinfect metropolis, Lagos state government discharges 7 more coronavirus patients, Lagos state will reverse to full lockdown, Sanwo-Olu to virtually inaugurate projects as he presents scorecard of first year in office, Lekki regional road: Sanwo-Olu revokes land titles of Elegushi Royal family, Lagos pays N1.3 billion into the RSA of 246 retirees, Lagos State to empower 2.5 million youths in Arts and Crafts

The Executive Governor of Lagos State, Babajide Sanwo-Olu has brought respite to the families of police officers killed during the violence witnessed in the aftermath of the #EndSARS protests.

According to the disclosure on the Twitter page of the Lagos State Government, the families were handed a cheque of N10 million each and the children of the slain officers awarded scholarships by the government.

What they are saying: Commenting on the recent development, a tweet by the Lagos State Government read thus: “Governor @jidesanwoolu handing over a cheque of 10 million naira each to the families of police officers who lost their lives during the unrest that followed the EndSARS protest and awarding scholarship to their children.’’

Why this matters: The recent effort by the Governor is in fulfillment of the promise he had earlier made to compensate affected victims of the post-EndSARS protest which led to the loss of lives and valuable properties both in the state and the country at large.

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The compensation will be viewed by serving officers as a motivation, aimed at promoting patriotism, loyalty, commitment and dedication to national service.

What you should know

  • Lagos State Government had earlier set up a N200 million fund for victims of police brutality
  • As a follow-up, Nairametrics had earlier reported that Lagos State Government offered scholarships to children of slain police officers.

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