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Nairaland Forum / Nairaland / General / Business / Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos (12472 Views)
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Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by Ravon: 9:19am On Feb 13, 2019 |
The Nigerian e-Commerce market is set for exciting times ahead as two major players, Jumia and Konga, are reportedly set for the eye-catching listing of their shares on the international market. e-Commerce giant, Jumia is planning an initial public offering (IPO) in New York this year which will reportedly see the business valued at $1.5 billion, even as MTN Group, Jumia’s largest shareholder is looking to raise up to $600 million from the sale of its shares during the IPO. In May 2018, Jumia was said to be planning an IPO in Frankfurt or London as its mother investment company, Rocket internet was seeking an exit, a report that was neither denied or confirmed. It has also emerged that Konga, arguably Nigeria’s biggest Omni- Channel e-Commerce group, is also set for a major listing on either the London Stock Exchange or New York Stock Exchange (NYSE) by the last quarter of 2020. Feelers from confidential sources within the New York bourse have it that the Konga Group is set for an initial public offering that will see the e-Commerce giant valued at about $3.2b, further shoring up the potential of the e-Commerce industry in Nigeria, Africa’s biggest market. Investigations reveal that Mark Jessey, a prominent stock analyst on NYSE had hinted of the strong possibility of a Konga IPO before the end of next year, a move which, according to him, is a much sought-after one by investors, many of whom have followed within the last 8 months the huge strides and trajectory of the business which came under new ownership after the exit of previous majority investors, Naspers and AB Kinnevik. While Jumia’s successful listing could help MTN reduce its debt which unconfirmed reports indicate to have increased to over five billion dollars in June from about $4.1b at the end of 2017, Konga’s imminent IPO is one that should see the business excite a horde of potential investors, going by the current standing of the company. When contacted on the likely listing of Konga, Chris Uwaje, a tech enthusiast and Africa Chair for IEEE World Internet of Things (WIoT), noted that the company has added huge value to the e-commerce landscape which should see its value gross over $3.5b. “Within the last seven months, I am aware that the new owners of Konga have repositioned the company strategically and upped the overall value of the business. Konga could claim to be unarguably the most structured e-Commerce company in Africa, with huge infrastructure and technology backbone which is rare in Africa and which is the strength of global players such as Amazon and Alibaba. In valuing Konga, you must consider its strategic 360 degrees Omni-channel strategy, their Central Bank of Nigeria-licensed mini bank – KongaPay which I am sure cannot be valued anything less than $750m and best in Africa digital logistics division known as Kxpress with a nationwide network. I know Konga is likely the only company that does about ninety percent of her long haul and last mile deliveries in the continent. “In today’s investment climate, investors are investing strategically in quality companies that are owned by experienced and well tested local Entrepreneurs with global vision and I am sure you know Konga has all these qualities under one roof in addition to over thirty physical retail stores spread all over Nigeria and which also act as delivery, collection and payment centres, so they could ask for more than $5b for their sweat.” Commenting further, MMrUwaje stated: “We have also seen the huge investment in massive warehouses across major cities such as Abuja, Enugu, Akwa-Ibom, Rivers State, Imo, Kano, Delta, just to mention a few, in addition to more than three mega structures in Lagos. I am also aware that the company recently spent over N9b in acquiring a very huge warehouse in a high-brow area in Lagos in preparation for Artificial Intelligence and Robotics-driven warehousing.” According to Uwaje, who doubles as the Director General, Delta Innovation Hub, Konga is an African e-Commerce Unicorn whose impressive strategies and achievements within such a short period would be hard to replicate in the Nigerian e-Commerce space. Efforts to reach any of the Chief Executive Officers of the Konga Group were unsuccessful. A staff of the company disclosed that all Management staff were in a lengthy strategy meeting and she would hate to interrupt them. SOURCE: https://brandspurng.com/2019/02/13/boom-for-e-commerce-as-jumia-konga-plan-1-5b-3-2b-ipos/ 2 Likes 1 Share
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Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by zakim(m): 9:21am On Feb 13, 2019 |
Good |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by APCZombiie: 9:28am On Feb 13, 2019 |
Good news |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by uzhofficial: 9:28am On Feb 13, 2019 |
Good to know |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by jimmylola: 9:29am On Feb 13, 2019 |
these rogues that normally deliver substandard products? What you see on site is not what you get 17 Likes 1 Share |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by gentleibraheem(m): 9:30am On Feb 13, 2019 |
What!!!!! Money dey this business oh |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by Racoon(m): 9:30am On Feb 13, 2019 |
Dont ever buy anything online from Jumia. 7 Likes 1 Share |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by CodeTemplar: 9:31am On Feb 13, 2019 |
Plenty of money. |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by hansolo24: 9:31am On Feb 13, 2019 |
investors attennnttiioonnnnnn! |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by CodeTemplar: 9:31am On Feb 13, 2019 |
Racoon:why? 1 Like |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by chloride6: 9:32am On Feb 13, 2019 |
Hmmm... Buy at your peril..... 1 Like |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by Sirpaul(m): 9:32am On Feb 13, 2019 |
my point jimmylola: |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by GloShare(m): 9:34am On Feb 13, 2019 |
Better be wise. They are folding up. Konga is gone already. Ecommerce is not a Nigerian way of life. 13 Likes 2 Shares |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by mrvitalis(m): 9:34am On Feb 13, 2019 |
Ths is funny |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by Nobody: 9:34am On Feb 13, 2019 |
gentleibraheem:Its a scam they will invest the money in real estate 3 Likes |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by RareHeels: 9:35am On Feb 13, 2019 |
interesting and inspiring. |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by Nobody: 9:35am On Feb 13, 2019 |
Timely! They can even do better than this. With a country as big as Nigeria with geometric leap in the adoption of IoT, I'm expecting the two African e-commerce giants to raise over $5bn in their IPO. This is exactly what you get when you have a fine brain like that of Leo-Stan Eke who understands what it take to use 3Ps to run a company. Nice one guys. I will be among the first to buy your shares once you guys goes public. Internet is the future and there's not doubt about this. 3 Likes |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by qanda: 9:36am On Feb 13, 2019 |
Good News |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by infogenius(m): 9:37am On Feb 13, 2019 |
Nice one. I want to c how it improves sales of products for merchants in this harsh buhari economy |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by michoim(m): 9:37am On Feb 13, 2019 |
Good one. This is happening in APC regime. May God never allow PDP back again |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by stanliwise(m): 9:37am On Feb 13, 2019 |
CodeTemplar:Only practical experience will help you understand. what they deliver is more complicated than what you see on 5heir site although not everytime but I we have them reformed rather than doing away with them. 1 Like |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by tradepunter: 9:37am On Feb 13, 2019 |
Haha IPO? Are they fucking serious? These guys are stupid jokers, I will short this crap of a company. Any investment bank that will act as a market maker for this is crap that they are trying to sell us should be FLAGGED AS SUSPICIOUS. 1 Like |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by jomoh: 9:38am On Feb 13, 2019 |
Thought they said there’s hunger in the land. Who dey buy from those people? Na ghosts? |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by lordtriplee(m): 9:38am On Feb 13, 2019 |
Nonsense report regarding Konga. Konga can't make 100 million dollars net in 1 year...this is just profit contribution 1. I wonder where the 3.5 billion valuation is coming from. 4 Likes |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by jayson87: 9:38am On Feb 13, 2019 |
Two ailing companies |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by Mrkumareze(m): 9:39am On Feb 13, 2019 |
CodeTemplar: Everything there na fake n u get a different good item delivered 3 Likes 1 Share
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Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by stanliwise(m): 9:39am On Feb 13, 2019 |
michoim:take a deep breath and think again. only 1/zillion of your opinion matters as politics is concerned . Your incessantly spamming or APC and PDP isn't going too far. 3 Likes |
Re: Boom For E-commerce As Jumia, Konga Plan $1.5b, $3.2b Ipos by lordtriplee(m): 9:39am On Feb 13, 2019 |
Racoon: Why not? It's the best in Nigeria and covers more than any other ecommerce company 2 Likes 1 Share |
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