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Nairaland Forum / Nairaland / General / Business / Jason Njoku: "Why Konga Was Sold To Zinox" (27491 Views)
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Re: Jason Njoku: "Why Konga Was Sold To Zinox" by UDOKABESTLUV(m): 2:37pm On Feb 07, 2018 |
Is a Pity, Finally Konga, Sold to Zinox, Lalasticlala Unblock Dot Com Website Link On Nairaland |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by Grafixnuel(m): 2:37pm On Feb 07, 2018 |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by MissKerebete(m): 2:39pm On Feb 07, 2018 |
Buhari' Administration killed Konga and OLX. The Economy is in a bad shape now. Foreign exchange and inflation rate is crazy. Hardship on every sector of economy. Other online businesses will soon join them. 1 Like |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by designVATExcel: 2:42pm On Feb 07, 2018 |
Honestly the Nigerian business environment is hard, particularly online business. It's tough mehn, the government ain't helping (no efficient, Affordable & reliable Postal system), data rates are so high, and customers are most times selfish. It's just a sum of many things. We go get there sha. Surely surely |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by Nobody: 2:43pm On Feb 07, 2018 |
Very sad |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by wildchild02: 2:54pm On Feb 07, 2018 |
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Re: Jason Njoku: "Why Konga Was Sold To Zinox" by eezeribe(m): 2:54pm On Feb 07, 2018 |
BakireBulmaker:Lol... I have been in that shoe before... I took an escape route too but I would still make a comeback 2 Likes |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by Fogman(m): 3:02pm On Feb 07, 2018 |
The quote really summarize reason why most businesses collapse in Nigeria. 222Martins: 6 Likes 2 Shares |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by midastouch: 3:02pm On Feb 07, 2018 |
And the totally avoidable Recession claims another victim. I cannot count how many businesses have had to close shop within the last 2-3 years due to the mismanagement of our economy. What a shame!! 3 Likes |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by mavinc4u(f): 3:10pm On Feb 07, 2018 |
Why won't it be sold when he does not know what goes around in his business. |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by ruggedtimi(m): 3:10pm On Feb 07, 2018 |
my role model jason njoku |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by Revolva(m): 3:19pm On Feb 07, 2018 |
Na wa even OLX don run comot for naija n kenya |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by Odiriance4all(m): 3:28pm On Feb 07, 2018 |
toluxa1: Are you saying olx and intercontinental hotel has exit |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by IamaNigerianGuy(m): 3:36pm On Feb 07, 2018 |
BakireBulmaker: Paid employment is possible due to a business someone has made successful 4 Likes 1 Share |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by Nobody: 3:42pm On Feb 07, 2018 |
The infrastructure and culture for online retail in Nigeria is not just there. 1. Postal System is a mess: I sent something to Nigeria recently. Everything was on time even through Dubai. But once it got to Lagos Airport. It spent an additional over budgeted 10 days. 2. The transportation system is a mess: Addresses are difficult to find. Houses are not marked with numbers or orderly numbers. Many roads are unreachable. 3. Poverty makes people steal. Or maybe not. Maybe people are just thieves 4. Customers and Sellers can be fraudulent: For example the case of the customers killing a Jumia delivery man over ordinary mobile phone delivery. Sellers sometimes sell bad or damaged items with the hope of getting away with it and making a quick. Hence, the pay on delivery. 5. Bank System not yet catching up to online retail: In the U.S if a seller sells you a bad product, you simply ask for a refund and the seller has to pay for the shipping and return costs. The money is automatically deducted from the sellers' account and paid into the customer's account was the item is returned. In Summary: Nigeria is not just ripe for online retail. Let's just continue with our Yaba open market. Such a shame. 7 Likes |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by kunnadej: 3:45pm On Feb 07, 2018 |
I keep saying it. Nigeria isn't as profitable as a lot of 'entrepreneurs' think - especially in e-commerce. Purchasing power is grossly low. All the noise they make on radio and tv doesn't align with the money they make. Other e-commerce companies still standing are not doing so based on the profit they are earning. Investors money! It's so easy and fulfilling to be on the news and parade yourself as a 'tech giant' or e-commerce giant and grant sessions on social media week every year. All of that don't mean your business is successful. No amount of Tecno and Infinix phone you claim to sell can help you. Solution: Tell yourself the home truth that Nigeria isn't ready for e-commerce on a large scale. Open physical shops and engage in offline/experiential marketing. Don't be too quick to catch on to technology when your country is in financial crisis and spending power is low. 2 Likes |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by Dirkcoyt: 3:47pm On Feb 07, 2018 |
mavinc4u: You're not serious 1 Like |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by toluxa1(m): 3:47pm On Feb 07, 2018 |
Odiriance4all: Yeah https://techpoint.ng/2018/01/18/africa-news-roundup-intercontintental/ https://techpoint.ng/2018/02/06/naspers-shuts-down-olx-ghana-nigeria-kenya/ https://www.nairaland.com/4279532/mint-like-new-samsung-galaxy |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by deenee: 4:21pm On Feb 07, 2018 |
Konga had an expensive business model.spent alot on adverts and had dollar payables due from a cash flow domiciled in naira.it was just a question of time.jumia is also in the same boat just that they have a larger war chest and trust me they are burning through cash like hell.jumia is still a loss making company though Alot of the e commerce firms have over bloated valuations and until they change their valuation and business operating models they will continue to suffer. Nigerians also didn't help matters . Yudala is barely struggling save for the support from zinox. 2 Likes |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by hollowpot15684(m): 4:25pm On Feb 07, 2018 |
It's quite difficult to make an edge in the Nigeria market, but I'm very sure there are more konga owners could do differently to save their ass. Well we only heard of konga but the fact is, there are thousand more businesses going down the drain everyday in this country. Our lives would be better only if this businesses survived... God bless Sim though. |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by BakireBulmaker: 4:38pm On Feb 07, 2018 |
IamaNigerianGuy: My guy, somebody somewhere is paying/sponsoring the successful business - government, international donors, bank loans... You are on your own if you don' have any of those backings especially in Nigeria. Go figure! 1 Like |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by Follygunners: 4:49pm On Feb 07, 2018 |
jade14: I swear the mods on this forum are some of the dumbest pple alive. Seun needs to revamp this section of his org. 2 Likes 1 Share |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by ariesbull: 4:49pm On Feb 07, 2018 |
ok na |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by och12(m): 4:51pm On Feb 07, 2018 |
That's how they almost killed MTN too after slamming them with that multibillion dollar fine. However, they successfully weathered through the raging storms and just recently started moving towards steady profitability. The second market leader, GLO is also having their own struggles, customers can see how 1k/3.2Gb was recently slashed to 2GB. We can go on and on concerning how the technological industry and every other industry in d economy is presently struggling to pull through. I strongly feel that govt. policies are not favourable for the business climate in Nigeria, even the huge conglomerates and multinationals are experiencing one form of financial crunch or the other, we hear of some and many we don't, just btwn 2016 and now thousands lost their jobs esp. in the banking sector. How then do we expect SME to breakthrough? Only God can save us. 1 Like |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by deenee: 6:00pm On Feb 07, 2018 |
och12:MTN deserved the fine. While other telcos complied they felt they were above the law besides these telcos are taking in big bucks and taking out of the country including glo. 2 Likes |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by IamaNigerianGuy(m): 6:42pm On Feb 07, 2018 |
BakireBulmaker: If a business is successful, then by definition it runs on its own steam and has no sponsors. You need investors, board members, advisers and customers it's part of the hustle. If that other guy can get them, so can you. There are many examples of successful businesses in Nigeria. It's not impossible to achieve. |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by mavinc4u(f): 6:43pm On Feb 07, 2018 |
Dirkcoyt: i am very much serious. |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by TheAlchemist: 6:50pm On Feb 07, 2018 |
When i started out in business after leaving paid employment, my brother gave me a golden advice which i totally ignored, he said bros "start small". i had so much cash then, that i wanted to start from mountain Olympus, of course when you crash you know it is going to be really ugly! 1 Like |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by phreakabit(m): 7:02pm On Feb 07, 2018 |
2 Likes |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by JustCryptos: 7:06pm On Feb 07, 2018 |
BakireBulmaker: You for stay dey form entrepreneur naw. 2016, I almost slipped into depression and perpetual anger running my business. I had to take a break. |
Re: Jason Njoku: "Why Konga Was Sold To Zinox" by BakireBulmaker: 10:36pm On Feb 07, 2018 |
JustCryptos: 2016 was the year hunger and idleness reset my brain for good. What a year! |
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