Jason Njoku, the founder of Iroko Tv has taken his time to explain why Konga’s founder, Simdul Shagaya had to sale his e-commerce platform to Zinox.

There has been rumours that Konga was sold due to mismanagement, criminality and theft, but Jason disagreed with all these claims. He said it is just time for Sim to throw in the towel and let go of his brainchild.

He said: “One day, Sim will share the true happenings of what really went down at Konga. I know more than most, but it’s not my story to share.”

“For now, let’s leave it to the Twitter economists and experts to rake over the supposed smouldering corpse which is, to many the dreams, of Konga – Nigeria’s online shopping Mall.

“To my mind, he (and Shola after him), did everything they could. Most will never know the pressures they were under. Most would never truly understand the demands and sacrifices they had to make in order to keep Konga alive.”

How Konga got stressed and was eventually sold to Zinox

Jasin didn’t fail to remind us how porous Nigerian business environment is and further stressed that Sim and his partner, Shola deployed all means possible to ensure their model works in the country. He mentioned that goods were sold at an extreme discount and sometimes overspend their budget but the returns from the market are most time poor.

“Nigeria Inc is poorer now in my opinion. When companies in Nigeria fail, it’s usually because of basic criminality and theft. The captain never goes down with the ship. Let me be clear. Sim+Shola ‘went down’ with their ship. I would say 95% of his material wealth was tied up in Konga.”

“As for criminality + theft? That wasn’t the case at Konga. No doubt they had internal and external fraud problems. It’s Nigeria. I’m sure, as I look around at IROKO, someone is trying to steal from me right now. But there was aggressive market development.

“There was overspending on everything because that’s what they felt they needed to do to ‘win this market’. There was no sense of impropriety. They gave it their best and the market, this fucking horrendously difficult market Nigeria, this market which turns dreams to ashes daily, just wouldn’t yield.”

“It was never about cash. Jumia has cash. All they are doing is burning more of it. The market is pushing back any effort of rationalisation. It may be untameable. I am 100% sure if I hadn’t ignored Nigeria for first 5 years of IROKOtv’s life, we would probably be dead. In fact, IROKOtv should have died in 2015.”

Sim Shagaya’s dream for E-commerce business in Nigeria

Simdul Shagaya is an enthusiastic investor in anything technology driven. Aside Konga, Sim also founded E-motion and DealDey to achieve his dream of developing and opening Nigerian retail business to the world of technology.

Seeing one of his projects going down without achieving its stated goal(s), it is surely a hard time for Sim.

“Sim is heartbroken, I am sure. If there was someone who deeply and truly cares about Nigeria, it is Sim. He came back to make a difference. To build a New New Nigeria through commerce.”

Source : http://www.clintgist.com/iroko-boss-jason-njoku-speaks-on-why-konga-was-sold-to-zinox-id7947552-html/

Too Bad

Promo everyday when no be oko oloyun or bulldozer products dem dey sell

Third to comment...

Well as we nor see any job do, I'm dedicating this plot of land to my Mum Alhaja Afusat oladoyinbo... I love you mum and even though you complain I dont go to mosque etc, I pray for you every seconds and every time I wake up... I wish you continuous good health momma and your boy gonn come through, olohun, Walahi....


Well at post, na Yaba me I dey get anything I need no time.... But sorry for dem sha

Why not just say it's hardship.

I hate stories that touches

Ok

.

Na wa o.. Konga,,, this Buharrrriiiiiiiiiiiiiiii sef

Very apt.

Just in case

Hmm,

Is it your konga?

oh

Jason shouldn't comment on Konga, I'll wait for the actual story from Sim.

Tech has taken a major blow since 2015.

Its the same everywhere. There's no place in the world where doing business is easy. Ask the then Nokia CEO.

My advice: Life is spiritual.

I see

The story of the accursed country called Nigeria. Who will save us from the bewitching of the darkness covering Nigeria and Africa as a whole?

Very bad trend...
And Lai Mohammad will come and say they have created 20 Million jobs tomorrow.




https://www.nairaland.com/4279532/mint-like-new-samsung-galaxy

Counting.... Mocality, Kaymu, Efritin, Konga and now OLX

Business/entrepreneurship is extremely difficult in Nigeria.

Nigerians are something else. They just won't patronise you no matter what they stand to gain unless it's a referral from a friend.
And when they do so they believe they are doing you a favour.

I had to scurry for paid employment when hunger wan kill me. Zero bank account, less than 1k in hand at any point in time.

Never again, in Jesus' Name.Amen.

Business in Nigeria is something else.
I am not happy to hear that Konga has been sold

okay

Buhari's bad luck has rubbed off on Konga. Everything and anything under Buhari is dying even Yusuf couldn't escape it.

Konga has been sold?

That's the country we live in, bad road will just send you back to village.

f

When we say education is the key,lazy folks like the OP would disagree.

You came up with the misleading topic using the affirmative tense as to mr S stating why konga was sold by the owners.

Have read and re read your article finding no sentence that states why konga was sold, and the useless mods of whc al the know best to do is serving bans to faceless users won't go tru articles before displaying their incompetence on front page.

*Spit*
nansense !!!

And they want brilliant minds to come back home with their hard earned money to come and repair a lost cause called Nigeria.

When our leaders dey their they reason like G-string

If and when I leave this shit hole , I'm not looking back.

Let them sell Nigeria and share the proceeds among her citizens. Not too much to ask

toluxa1:
Very bad trend...
And Lai Mohammad will come and say they have created 20 Million jobs tomorrow.


https://www.nairaland.com/4279532/mint-like-new-samsung-galaxy

Buhari's head and hardship signed a MOU when he was born