Business News
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.
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.
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.
“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)
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.
Corporate Press Releases
Transcorp Hotels launches Aura, an online marketplace for accommodation and experiences
Nigeria’s largest hospitality brand launches a new platform for booking vacation homes, holiday lets, and experiences.
Africa’s leading hospitality brand Transcorp Hotels Plc. has announced the launch of Aura, a new digital platform through which people can book accommodation, restaurants, and experiences.
The new brand, Transcorp’s first in the alternative accommodation segment, is part of the company’s asset-light model, leveraging technology to deliver true hospitality, exciting experiences, and drive shareholder value.
“It’s a new dawn in the hospitality industry! I am thrilled to introduce you to Aura by Transcorp, the digital platform we are using to connect people to quality accommodation, great food, and awesome experiences,” Managing Director and Chief Executive Officer of Transcorp Hotels Plc., Dupe Olusola said.
“For more than 30 years, Transcorp Hotels Plc has been at the forefront of creating a superior guest experience at our locations. Today, our commitment to innovation has offered us an opportunity to extend this beyond the hotel premises,” Olusola added.
The launch of Aura by Transcorp is one of the most significant developments in the company’s history as it seeks to transform the travel and tourism industry in Africa by focusing on three important components of travel, whether for leisure or business — where you stay, what you eat and how you spend your time. With its people-driven hospitality model, Aura is set to revolutionise travel and help remind Africans of our deep history of hospitality.
Speaking on the launch of Aura, Obong Idiong, Chief Executive Officer at Africa Prudential Plc, Aura’s technology partners, expressed his excitement. “Finding the right accommodation when you travel can be incredibly complex. Options available for the right prices are often limited, and travellers sometimes end up with accommodation that taints the travel experience. Transcorp Hotels Plc has been able to fix that with Aura and we are proud to be associated with them.”
“To ensure topnotch user experience, we built a solution to drive digital transformation through the adoption of shared living spaces for the Aura business. With an advanced search algorithm powered by artificial intelligence, Aura determines the relevance of locations taking into consideration, the customers’ preferences and requirements to meet them at the point of their needs,” Idiong added.
Priscilla Adeboye, a travel enthusiast and early adopter of Aura, said the global pandemic has pushed international travel down her list. “But I still want to be able to take some time off work or spend a weekend away from home with the family. I have found incredible homes on Aura that meet my need for space and privacy.”
Working with thousands of partners across Nigeria and different cities in Africa, Transcorp Hotels Plc. is building the continent’s largest platform for people-driven hospitality. While travellers enjoy the right selections at the best prices on Aura, hosts can also earn a lot of money by receiving guests in their unoccupied homes and sharing the local culture with them.
For travellers who would rather stay in hotels, Aura also has a great selection of some of the best hotels in every city.
With the launch of Aura, Transcorp Hotels Plc. has further cemented its leadership in the hospitality industry and reinforced its commitment to innovation and superior guest experience across different demographics.
Guests and hosts can sign up at aura.transcorphotels.com to start booking or hosting. The service is currently available in Nigeria only, but the company said plans are already in place to expand to major cities in Africa.
Transcorp Hotels Plc is one of Africa’s leading hospitality companies, committed to redefining service standards across the continent while remaining truly and authentically African.
Aura by Transcorp
Aura is Africa’s best platform for connecting travellers with great accommodation, good food, and memorable experiences. The platform is also an avenue for people with unoccupied homes, hotels, restaurants, or different skill sets that may interest others can earn an income by becoming hosts.
Corporate Press Releases
DISCLAIMER: Ex-Cavendish MD distances self from alleged statement on OML 110
Alhaji Ibrahim Mai Deribe, a former MD of Cavendish Petroleum Limited, has dissociated himself from an alleged statement on OML 110.
Jonathan
January 21, 2020 at 1:23 pm
lol who does this guy think hes fooling?
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.