Zinox Group has acquired the Nigerian e-commerce giant and online mall, Konga, along with its subsidiaries Kongapay and KOS Express.
According to the report, the acquisition cost Zinox $10 to $15m and that both Yudala and Konga will be integrated “with potential to expand across Africa”. No details of what that integration means have been provided, but we expect more things to start unfolding in the coming weeks. Yudala is allegedly owned by the son of Zinox Chairman.
New Life Under Zinox Group
Just like most other e-commerce businesses in Nigeria, Konga has had to struggle with the rough conditions of the country. The hard push to keep operational expenses low without sacrificing operational efficiency and service delivery is a very true type.
Just last December, Konga Nigeria executed a number of reforms, including laying off some staff and dropping the payment-on-delivery service that its customers had been enjoying.
The acquisition by Zinox Group is expected to be a fresh breath of life to Konga and its operations. Whether it will continue to operate under its present brand name or it will be absorbed under another brand identity (Yudala or some other) remains to be seen.