The acquisition encompasses all of Konga; it’s e-commerce domain, Konga.com, KOS Express which is its logistics arm, and KongaPay, the integrated mobile money payment channel.
According to a ThisDay report, Head of Corporate Communications at the Zinox Group, Mr. Gideon Ayogu confirmed the acquisition. The report also confirmed that deal was sanctioned by the Securities and Exchange Commission (SEC).
The Zinox Group is an ICT company and OEM with its own line of computers. The group has pioneered in many aspects of technology and innovation in Nigeria.
Konga finally started on its way to profitability after a long dry spell. In November last year, it also joined the growing list of e-commerce companies to kill pay on delivery.
This acquisition portends good things for the brand as the Zinox Group is one of the pioneers in Nigeria’s e-commerce with BuyRightAfrica.com. This domain knowledge is going to go a long way in positive restructuring and repositioning.
There is also a high possibility that Konga will be merged with Yudala an e-commerce company under the Zinox Group.
With Yudala’s strong offline presence, the likely merger will birth a powerful brand.