Denis Opudo
The world global e-commerce market is on the verge of experiencing drastic growth. Statistics show that retail e-commerce sales were at $2.829 trillion in 2017. E-retail revenue stood is also expected to go up to $4.48 come 2021. Konga is a Nigerian based e-commerce platform that enables Nigerians to carry out online shopping without having to line up in the long ques. Many Nigerians do their first online shopping through Konga.com.
Moreover, the KongaPay and KOS-Express branches make the company popular. KongaPay is the company’s mobile payment platform, and it has more than 100,000 subscribers. On the other hand, KOS-Express is one of the world’s leading logistics platforms. The platform helps in speeding up the delivery of various goods bought through Konga platform.
The Original Equipment Manufacturer (OEM) and Zinox Group acquired Kinga. The latter is renowned unified Information Communication Technology (ICT) solutions. Therefore, the acquisition will raise the bar in the e-commerce sector. Furthermore, the Securities and Exchange Commission (SEC) approved the whole transaction. Nigeria has not explored its e-commerce revenue ability fully.
Furthermore, Zinox has been in the Nigerian market for sometimes now. Zinox received various challenges after it launched BuyRight. This occurred after BuyRight lacked an e-payment platform and credit card. Yudala and Konga will also work together after the acquisition. This will come after the acquisition and it will reduce competition in the e-commerce.
More than 750 Nigerians will get jobs through the deal. This will cater for both the local Nigerians and those in the diaspora. Moreover, those employees initially retrenched by the company during its relaying process will get back their jobs. The interest in Konga came as a result of its ability to operate four branches. The move will see Konga remain the leading e-commerce platform in Africa. Meanwhile, the current focus is to see the business get the maximum profit according to its worth.
Konga recently moved to a prepay-only way, and this was by integrating a stop to Pay on Delivery (POD). Zinox Group currently has its headquarter in Lagos Nigeria. It also has branches all over the country. Furthermore, the company is in Middle East, Asia, Europe and many countries in Africa.
