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Zinox Acquires Konga In Landmark Industry Deal - Investment - Nairaland

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Zinox Acquires Konga In Landmark Industry Deal by Letenwam: 9:59am On Feb 03, 2018
Zinox Group, one of Africa’s biggest technology group has acquired e-commerce platform, Konga.com which remains 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 landmark deal approved by Securities and Exchange Commission (SEC), is expected to raise the profile of e-commerce in the country. 

Industry analysts estimate that the acquisition could lead to the integration of Konga and Yudala, which is owned by Chairman Zinox Group, Mr. Leo Stan Ekeh's son, to wade off competition and make it one of biggest e-Commerce companies in Africa.

Head of Corporate Communications, Zinox Group, Mr. Gideon Ayogu confirmed the development, said; 

“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.”

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.

“Our ambition is to up the tempo by revolutionising e-commerce on the African continent, with Konga at the fore-front of this initiative. 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.” 

http://lailasnews.com/zinox-acquires-konga-landmark-industry-deal/

4 Likes

Re: Zinox Acquires Konga In Landmark Industry Deal by Immatex(m): 10:01am On Feb 03, 2018
So Konga went broke

Little wonder they don't even have Nokia 6 (2018) model.

Broke Konga

24 Likes 2 Shares

Re: Zinox Acquires Konga In Landmark Industry Deal by Nobody: 10:12am On Feb 03, 2018
I am deleting the Konga app and my Konga account. Bye Konga!!

6 Likes

Re: Zinox Acquires Konga In Landmark Industry Deal by DWJOBScom(m): 10:22am On Feb 03, 2018
An acquisition to make it stronger
Am out for anything that will make deceptive and disillusion stance towards customer service and delivery as displayed by Jumia and it's staff sit up

This is good in tiv

32 Likes 3 Shares

Re: Zinox Acquires Konga In Landmark Industry Deal by Donald3d(m): 10:38am On Feb 03, 2018
Wawu
Re: Zinox Acquires Konga In Landmark Industry Deal by hardbody: 2:37pm On Feb 03, 2018
DWJOBScom:
An acquisition to make it stronger
Am out for anything that will make deceptive and disillusion stance towards customers as displayed by Jumia and it's staff sit up

This is good in tiv

Do people still shop on Jumia? I don't.

16 Likes 1 Share

Re: Zinox Acquires Konga In Landmark Industry Deal by BruncleZuma: 2:48pm On Feb 03, 2018
grin grin grin grin
Re: Zinox Acquires Konga In Landmark Industry Deal by YhurKarma: 2:49pm On Feb 03, 2018
Middle Finger To The Mod Banning People Upandan

42 Likes 1 Share

Re: Zinox Acquires Konga In Landmark Industry Deal by Nobody: 2:49pm On Feb 03, 2018
Good news, wow.

Am going to acquire Dealdey so i can help them. Watch me

2 Likes

Re: Zinox Acquires Konga In Landmark Industry Deal by SoNature(m): 2:50pm On Feb 03, 2018
Yeah! I was there today and Mr Eke, CEO of Zinox, informed us. Congratulations to them!

8 Likes

Re: Zinox Acquires Konga In Landmark Industry Deal by Odingo1: 2:50pm On Feb 03, 2018
Nice development
Re: Zinox Acquires Konga In Landmark Industry Deal by Afobear: 2:51pm On Feb 03, 2018
I saw that coming a long time ago ...for yudala to be relevant ,it had to kill Julia and Konga or buy up 1 ...the latter he did

1 Like

Re: Zinox Acquires Konga In Landmark Industry Deal by nonye6194: 2:52pm On Feb 03, 2018
anything to make Jumia to sit up and reduce its excess charges for items and delivery fee

3 Likes

Re: Zinox Acquires Konga In Landmark Industry Deal by Ambi25: 2:52pm On Feb 03, 2018
Nice one

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Re: Zinox Acquires Konga In Landmark Industry Deal by deebsman1(m): 2:52pm On Feb 03, 2018
Truly landmark, now they can work on the business model and revise it. They can become the Amazon and Alibaba of Africa

3 Likes

Re: Zinox Acquires Konga In Landmark Industry Deal by RZArecta2(m): 2:52pm On Feb 03, 2018
Good development, the business climate is very tough for ordinary investors, let's see how zinox will cope
Re: Zinox Acquires Konga In Landmark Industry Deal by HarkymTheOracle(m): 2:52pm On Feb 03, 2018
Wawu shocked
Re: Zinox Acquires Konga In Landmark Industry Deal by 9japrof(m): 2:53pm On Feb 03, 2018
grin
Re: Zinox Acquires Konga In Landmark Industry Deal by Basiljoe: 2:53pm On Feb 03, 2018
If they integrate with yudala, they could pose some serious competition to jumia and position themselves as top Ecommerce in Nigeria/Africa since yudala has some chain stores and operate with both online and offline model. It would be much easier to establish branches across the nation with chain stores, and then woo customers to E-commerce. Sounds like a nice deal to me.

10 Likes 1 Share

Re: Zinox Acquires Konga In Landmark Industry Deal by Dottore: 2:53pm On Feb 03, 2018
Good move but they should have given further details of the deal like: the worth of the deal, why did the change of ownership become imperative, would the new owners retain the old name, the percentage of the shareholding etc

19 Likes 1 Share

Re: Zinox Acquires Konga In Landmark Industry Deal by coolebux(m): 2:54pm On Feb 03, 2018
So finally they don carry our konga drum
It's well
Re: Zinox Acquires Konga In Landmark Industry Deal by donqx: 2:54pm On Feb 03, 2018
great
Re: Zinox Acquires Konga In Landmark Industry Deal by westside6: 2:54pm On Feb 03, 2018
Nawaooo
Re: Zinox Acquires Konga In Landmark Industry Deal by kernel504(m): 2:55pm On Feb 03, 2018
angels09:
I am deleting the Konga app and my Konga account. Bye Konga!!


Hahahhaha...Pained? Grabbing is allowed.

5 Likes 1 Share

Re: Zinox Acquires Konga In Landmark Industry Deal by doctokwus: 2:56pm On Feb 03, 2018
I am always wary of any big business run by a Nigerian in Nigeria.

4 Likes

Re: Zinox Acquires Konga In Landmark Industry Deal by voicelez: 2:56pm On Feb 03, 2018
Crying foul, and not getting our pvc is a waste of time

7 Likes 1 Share

Re: Zinox Acquires Konga In Landmark Industry Deal by akinswaggs(m): 2:57pm On Feb 03, 2018
Amazon only!

1 Like

Re: Zinox Acquires Konga In Landmark Industry Deal by Rayhandrinni(m): 2:59pm On Feb 03, 2018
Jumia scam me for that shirt sha angry

1 Like

Re: Zinox Acquires Konga In Landmark Industry Deal by scribble: 2:59pm On Feb 03, 2018
Amazon na baba

If u want to win ecommerce in nigeria

Integrate with amazon

I want prime shipping to nigeria. 7 days only

I want all d gerber, everything

1 Like

Re: Zinox Acquires Konga In Landmark Industry Deal by madgoat(m): 2:59pm On Feb 03, 2018
Hmmmm Konga died a long time ago.

4 Likes

Re: Zinox Acquires Konga In Landmark Industry Deal by Nobody: 3:00pm On Feb 03, 2018
angry
Re: Zinox Acquires Konga In Landmark Industry Deal by Nobody: 3:00pm On Feb 03, 2018
Nice move. Both are good brands

2 Likes

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