Tag: Konga

  • Konga mulls AI-powered radio

    Konga mulls AI-powered radio

    Composite e-commerce group, Konga, is poised to transform the Nigerian media and commerce landscape with the upcoming launch of its AI-powered FM radio station in Lagos. The groundbreaking initiative, set to debut in January 2025, will mark Africa’s first Hit Music & Commerce Station, blending Technology, Entertainment, Commerce and more to drive impactful connections across the continent and the world.

    A reliable source reveals that the station – KongaFM will be a pioneering platform to empower brands, distributors, and original equipment manufacturers (OEMs) to connect with untapped markets, revolutionizing commerce in real time.

    While offering businesses a new avenue for product visibility and market penetration, the station promises to deliver non-stop hit music, ensuring listeners enjoy a unique mix of entertainment and commercial opportunities. It will be a completely new experience for Nigerians.

    Equipped with state-of-the-art broadcasting technology and staffed by a dynamic new blend of seasoned professionals and youthful talent, the station will begin test transmissions in the second week of January 2025. Konga’s latest media venture comes as part of its broader strategy to disrupt conventional marketing communications and amplify consumer engagement across sectors, including FMCG, electronics, and digital solutions.

    Read Also: Imudia’s family breaks silence on cause of ex-Konga boss’ death, rejects suicide rumour

    The move is expected to send ripples across Nigeria’s FX market, potentially influencing the pricing and availability of key goods and commodities. This aligns with Konga’s history of innovation in the e-commerce sector.

    This initiative will also complement Konga’s existing TV arm and other media services, positioning the brand as a dominant force in Marketing Communications. Together, these platforms will create synergies that set new benchmarks for how entertainment and commerce converge in Africa while streaming globally.

    When asked for further details, Prince Nnamdi Ekeh, CEO of Konga Group, remained tight-lipped, stating that “full details and official announcements will be made in January 2025.”

    The anticipation around this launch continues to grow as industry experts and media enthusiasts eagerly await what is already being hailed as the next major evolution in Africa’s media and commerce space.

  • Konga eyes listing on NGX

    Konga eyes listing on NGX

    Ecommerce platform, Konga Online Shopping Limited, could be preparing its runway for a listing on the Nigerian Exchange (NGX) within the next three years.

    Working with global investment advisory firms, the largest online shopping omnichannel platform in Nigeria could list its shares in an Initial Public Offering (IPO) as early as 2027, according to experts familiar with the matter.

    Strong indications from the leadership of the company show that deliberations are in place and while the details on the timing of the launch could vary, the move to a publicly owned entity appears certain.

    The new Konga which was founded in 2018 when Zinox Group acquired it 100per cent from Africa’s largest tech global investors, Naspers and Europe Kennivik, has grown through the years to become a  major ecommerce player with more than 700 full time staff and over 100,000 indirect employees in its portfolio. The acquisition by Zinox Group, a leading tech company, in 2018 was regarded as one of the biggest buyouts of a mainstream ecommerce organisation on the African continent at the time. The company has since positioned itself as a formidable force in the ICT sector.

    Read Also; CBN clears all $7b forex backlog

    Speaking with this reporter on the possibility of a public listing, an expert with a deep understanding of the dynamics in global capital market as it relates to tech companies, Dr. Chris Uwaje, said: “Konga is a company which must be watched closely as an organization with the potential to disrupt the Nigerian stock market in 2027 if it hits the NGX as companies like Amazon, Jumia struggle to survive in Africa because of infrastructural issues, and are discouraged from meeting their ambitions in Africa.

    “As the global economic storm hits Africa, and Nigeria in particular, there are few companies which will emerge in the next five years and Konga will break barriers if they hit the stock exchange, because these guys’ strategies and tactics are auditable.”

  • Konga promises discounts at monthly live auction

    Konga promises discounts at monthly live auction

    The e-commerce group, Konga, is set to delight shoppers with discounts at its live auction scheduled for 2pm February 5, 2024, and subsequently on the first Monday of every month. This event marks Konga’s dedication to providing customers with incredible discounts on a wide range of products.

    In a statement, the firm said the live auction is not new to Konga shoppers as previous editions have witnessed enthusiasm, with hundreds participating in exciting bids for amazing deals on everything from everyday essentials such as L’Oreal cosmetics to coveted gadgets such as Apple iPhones, Samsung devices, Haier Thermocool and iTec Power products.

    The overwhelming demand from customers for this unique shopping experience has prompted Konga to make the Live Auction a permanent fixture in its monthly calendar.

    The auction is set to be broadcast live on Facebook, Instagram, and KongaTV’s YouTube channel, and it promises to be an interactive and engaging experience for shoppers and viewers alike.

    Konga’s Chief Operating Officer, Dave Omoregie, expressed the company’s desire to consistently exceed customer expectations, saying: “We are thrilled to answer the call of our loyal customers by introducing the live auction.

    Read Also: Tinubu to University unions: prioritise dialogue to avoid frequent strikes

    This initiative underscores our commitment to delivering unparalleled value and excitement to our shoppers.”

    The auction, he added, represents a significant milestone in Konga’s mission to revolutionize the ecommerce landscape in Nigeria and beyond. With its innovative approach to online shopping and dedication to customer satisfaction, Konga continues to set the standard for excellence in the industry.

    Shoppers are encouraged to take advantage of the opportunity by participating in Konga’s monthly Live Auction to unlock unbeatable discounts on their favourite products.

     With Konga’s Live Auction, every first Monday promises a thrilling hunt for exciting discounts on the widest range of products.

  • Konga unveils Naija Shopping Festival for Xmas

    Konga unveils Naija Shopping Festival for Xmas

    E-commerce platform Konga, yesterday announced bonanzas for the launch of its long-awaited Konga Naija Shopping Festival which is its Xmas sales promo for the year.

    Vice President of Marketing at Konga Group, Rita Ohaedoghasi, said in addition to price slashes, three lucky customers will win up to N100,000 every day beginning from December 1 to 31, 2023 on KongaTV.com. To participate, shoppers are to visit KongaTV.com at 11am every morning all through the month, subscribe to its YouTube channel and answer a question correctly. Winners will be announced at 6pm daily.

    Konga Group recently launched what customers describe as Africa’s pioneer shopping network, a 24-hour Television network where deals and discounts between manufacturers, distributors of genuine products and shoppers happen daily.

    Read Also: ‘Insurers show strengthin claims payment’

    Described by Dr Dapo Ojerinde a USA-based digital enthusiast, KongaTV is “a huge platform that brings both sellers and buyers face to face to transact with peace of mind because Konga guarantees the genuineness of products and transactions. Manufacturers, distributors and young SMEs now have a cheaper network to showcase their products straight to consumers and African governments can use this platform for true commodities trading.”

    Konga was acquired by Zinox Group from Naspers in a mega deal in 2018, the new owners, according to facts available, have injected millions of dollars and experience to position it as the leading composite e-commerce group in Africa with many verticals. Since its inception, Konga has remained the pride of corporate African.

  • Konga unveils back-to-school promo

    As part of efforts aimed at giving its loyal customers the best summer shopping experience, Konga, has put on sale thousands of products from its inventory at unprecedented discounts for its Back to School promotion, which runs between August 27 and September 9.

    The promotion will offer shoppers access to the wide range of products online @ Konga.com and offline in every Konga retail store nationwide.

    Tagged #BacktoSchoolwithKonga, the two-week campaign will see genuine products across multiple categories including mobile phones, laptops and other computing devices such as notebooks, smart printers and Kids tablets, fashion items and accessories, a wide range of Electronics and the best Home and Kitchen appliances from the biggest brands.

    Further raising the excitement for the Konga Back to School campaign is a series of social media activities including quizzes which will pitch parents against their kids, a hashtag campaign that will see lucky winners visit the Konga office for a one-minute shopping fiesta, a photo contest on how kids spent their holidays, with winners getting Back to School essentials and school supplies as well as kiddies and adult games, among others.

    “With #BacktoSchoolwithKonga, we intend to offer not only returning students and other individuals a chance to shop a wide range of essential products for the new school season at amazing prices, we are also making a bold statement with bulk purchases and sweet deals for educational institutions nationwide, corporate organisations, small businesses and other bulk shoppers with flexible payment terms,” disclosed Konga CEO Online, Nick Imudia.

    “In addition, shoppers can enjoy same day delivery on select items for orders placed before 12pm plus flexible payment such as pre-payment and our recently relaunched payment on delivery options, among others. You also enjoy multiple delivery options by K-Express as well as the choice of being able to pick up at any Konga retail store of your choice. Our customers can also walk into any of our stores nationwide and with the help of our staff, order the items not available in-store, then pay and collect when it is delivered at the store or we deliver it at their door-steps,” he said.

    The Konga Back to School campaign is expected to whet the appetite of Konga’s numerous merchants and customers nationwide in anticipation of its year-end campaigns including the Independence Day sales and its much-awaited Black Friday promotion tagged Yakata.

  • Konga to re-launch pay on delivery

    Konga, ecommerce platform is set to relaunch Pay On Delivery (POD) from tomorrow, starting with customers in Lagos before extending the service to other states from September 1.

    This is after effectively achieving same day delivery of approximately 97per cent of product orders in major cities in the last 30 days.

    Confirming the development, Mr. Nick Imudia, CEO Online, disclosed that Payment On Delivery was suspended when erstwhile owners – Naspers and AB Kinnevik were in discussions before the acquisition of the business by the Zinox Group.

    “We have taken our time to restructure, improve our technology and capacity in terms of our own staff and logistics to meet customers’ expectations. We have invested substantially in our logistics arm, K-Express culminating in the acquisition of new line-haul trucks, delivery vans and motor bikes to meet the commitments of not just POD, but also achieve a minimum of 85 per cent same day delivery of major products categories by July 2019 across the nation as mandated by the Board of Konga.

    “Someone must make it happen, and we have decided to take the bull by the horns with new mega warehousing and storage facilities being opened across the country with best in class technologies,” he affirmed.

    Mr. Imudia also stated that Konga, in line with its status as the biggest composite e-commerce company in Africa, is expanding its retail network as promised by the company’s Management, with a target of 100 stores before the end of 2019 but with a long-term ambition of achieving 774 stores by 2022.

    “Effective August 1st 2018 and considering Nigeria’s deficient payment system, Konga customers have several payment and delivery options. This will go a long way to excite our customers and expand the numerous order fulfilment channels available to our customers.

    “In addition to pre-payment and payment on delivery, you have the additional option of ordering online to pay and collect from the nearest Konga retail store.”

  • Top E-commerce firms, Konga, Yudala merge

    Largest Nigerian Online mall, Konga and Yudala, have officially announced a merger of their operations to significantly alter Nigeria’s online retailing space in terms of size of operations and customers base.

    From May 1, both companies will now operate as ‘Konga.’

    The strategic decision will see both companies leverage the combined strengths of their platforms and further broaden the scope of organized retail and e-commerce in Nigeria, as well as deliver more value to customers and merchants.

    In a official statement, Olusiji Ijogun, Konga chairman said:

    “Combining forces to power the new Konga will enable us effectively achieve our goals of platform expansion and accelerated growth, as we embark on an ambitious journey to redefine the retail ecosystem with the industry’s most advanced technology.

    “Effective from May 1st, Yudala will now operate under the name Konga, with dual CEOs in the persons of Nick Imudia who will be in charge of online among others and Prince Nnamdi Ekeh who will be responsible for offline. This merger will further strengthen our position in the Nigerian retail market as we creatively position Konga as the first profitable e-commerce company in Africa.”

    Also Read: Why we acquired Konga, by Zinox

    “The efficiency of Konga’s cutting-edge online platform, access to thousands of merchants and Yudala’s expansive network of fully stocked offline stores is poised to give our customers the best shopping experience imaginable. We will be working closely with all our combined clients, customers, merchants and employees to make the integration process as seamless as possible and thereafter make public our road map to sustain our leadership on the continent,” Ijogun stated.

    One of the exciting benefits of this merger is the possibility it offers prospective shoppers to order online, pay and pick-up the product(s) at the nearest Konga offline store. There are also increasing business opportunities for merchants nationwide.

    The  ‘re-born’ Konga will bring services closer to consumers and widen depth of options with which merchants may engage the eCommerce company across Nigeria.

    “We are very excited about the operational merger between Yudala and Konga into the new Konga,” noted Prince Ekeh.

    “A merger of this magnitude has never been experienced in Africa. We will be leveraging on Konga’s strong technology backbone and online experience as well as Yudala’s offline experience, network of retail stores and operational efficiency. In the near future, we plan to have a Konga store in every local government area in Nigeria. While this is ambitious, we believe that every Nigerian deserves the right to have access to the full range of genuine products offered by Konga,” Prince Ekeh declared.

    Plans are also underway to showcase the full power of the merger with expanded access to thousands of products in Konga online and offline stores for all categories of shoppers.

    According to Imudia, “We believe this operational merger between Konga and Yudala will bring immense opportunities for consumers in the e-commerce space. We urge all shoppers, consumers, merchants and clients to stay tuned as we unveil the massive ambitious contents we have to offer.”

    Widely applauded by industry watchers as a masterstroke, the merger will broaden the range of products and solutions on offer within the Konga/Yudala stable, while giving the customers and merchants more options and access to an expanded variety of guaranteed quality offerings and payment methods.

    The Konga Business platform will now include two distinct but fully integrated aspects including Konga Online, the e-commerce/marketplace platform and Konga Retail, the offline arm of the business.

    Both will be supported by Konga Pay, a CBN-licensed mobile money platform and Konga Express, a world-class logistics company with advanced delivery capabilities for internal and external customers.

     

  • Why we acquired Konga, by Zinox

    Why we acquired Konga, by Zinox

    The Zinox Group has acquired Konga to create jobs for over 750 youths and deepen the e-commerce space in the country. Many workers of the company laid off in the restructuring process may be recalled.

    Zinox Head of Corporate Communications Gideon Ayogu, who made the clarification to The Nation said the decision to invest in Konga was an easy one for the Zinox Group.

    “We have always had an interest in Konga and another big one you know very well but our priority was Konga first because of her integrated nature of four quality companies in one. Konga is a world-class, professionally-run company whose landmark strides in the sector has gone a long way in ushering millions of Nigerians into the ease and convenience of online shopping while boosting the conduct of e-commerce in the country.

    “Today, many Nigerians can attribute their first experience of e-commerce to Konga.com and we are excited to be a part of this remarkable story. Many shoppers can also attest to the speed and efficiency in delivery that characterizes KOS-Express, the company’s logistics arm, which is arguably the best in the sector at the moment.

    “Our ambition is to up the tempo by revolutionising e-commerce on the African continent, with Konga at the fore-front of this initiative. In addition to positioning the business on a path of profitability in the short term, our long term plans are focused around seeing Konga well established in other African capitals. Furthermore, we will be unveiling a lot of new initiatives soon and we advise shoppers and merchants alike to look out for these innovations which will radically reshape the average customer experience of e-commerce in Nigeria and on the continent,” Ayogu explained.

    The acquisition of the e-commerce powerhouse was concluded after successfully rounding off months of long-drawn negotiations with major investors, Naspers and AB Kinnevik.

    Based in South Africa, Naspers is a broad-based multinational internet and media group, offering services in more than 130 countries while AB Kinnevik, founded in 1936, is a Swedish investment company investing primarily in digital consumer brands.

    Through this acquisition, the Zinox Group, foremost integrated ICT solutions conglomerate and Original Equipment Manufacturer (OEM), will expand its operations to e-commerce, an industry it pioneered in the country with the launch of BuyRight Africa.com which was challenged by the absence of credit card and e-payment infrastructure when it was launched over 12 years ago.

    The acquisition has passed all regulatory approvals by the Securities and Exchange Commission (SEC).

    The Zinox Group, arguably Africa’s most-integrated technology group, will assume ownership of the e-commerce platform, Konga.com which remains one of the biggest players in the sector and its KOS-Express, a world-class logistics arm of the business in additon to KongaPay, the company’s integrated mobile money payment channel with over 100,000 subscribers.

    Widely expected to place Konga, Nigeria’s largest online mall on a sound footing for increased market share, the acquisition is seen by industry watchers as one that could see e-commerce in Nigeria finally unlocking the massive revenue potential in the global multi-billion  dollar industry.

    Interestingly, this unprecedented development is coming at a time when global e-commerce spending is expected to top previously unheralded levels. In 2017, retail e-commerce sales worldwide amounted to $2.829 trillion while e-retail revenues were projected to grow to $4.48 trillion in 2021.

    Konga had recently announced a shift to a prepay-only model, essentially putting a stop to Pay on Delivery (PoD) – a significant decision which formed part of an internal restructuring aimed at cutting costs and putting the business on a growth trajectory. This move, coupled with the new investment, is expected to spark an up-turn in the company’s fortunes which will see Konga assume a more significant share of the e-commerce market.

     

  • Black Friday: A festival of dark and shoddy deals?

    Black Friday: A festival of dark and shoddy deals?

    By Moses Emorinken

    The recent frenzy that permeated and circulated every space – from social, terrestrial and print media is simply amazing…all in the name of Black Friday.

    Online buyers impulsively cherry-pick items such as home appliances, groceries, electronics, phones and laptops, and other similar appurtenances; they do so with the hope of getting the best deals in prices for the year.

    However, their already wide and bright grins sagged as their expectations were dashed to the ground in an epic humpty dumpty style.

    According to research in Consumer Psychology, humans are known to be the most impulsive creatures in this massive terraqueous globe we call earth.

    Our excessive desire to satisfy our insatiable wants have become a major preoccupation making us hustle and toil day and night or even borrow money that we do not have, to purchase things we do not need, in order to impress people who really do not care about us.

    What a wasteful expedition!

    In Nigeria, e-commerce sites like Jumia, Konga, DealDey etc., are amongst some of the major players in the Black Friday saga.

    Black Friday have wrapped its thick dark sheets around us just like the heavens wrap the horizons of the sky with “black” clouds before sending down the rain; the rain in our case is the purported discount promised us by a lot of these sites.

    Little wonder it is called Black Friday because of the surreptitious hoax deployed to legitimately defraud customers of their hard-earned mazuma without them knowing.

    Customers have been wooed and lured to believe they would have a blast and slash in the prices of their favourite items. However, just like the majority of gullible teenage girls who get deflowered before they clock 18, Nigerian customers have had their hearts broken, hopes dashed, and expectations dulled and lulled by the failed promissory love notes from these Casanovas called e-commerce stores. This is reminiscent to “daylight” rape and robbery.

    How do you explain the rationale behind a product being sold during the discount period, which is more expensive than it was a few weeks ago?

    They even have the effrontery to paste a former price against a discounted price and percentage off – we should be grateful…shey!?

    This is the case of Sharon: A customer who found a product on one of our popular e-commerce website. She identified the product, saw the price and took note of it; only to wait till black Friday to find that the product which she saw barely 2 weeks ago at N3,000 is now N4,000 at a “supposed” discounted price. This is absurd!

    Sometimes, what is most personal is most general; it’s almost certain that Sharon’s pitiable Black Friday story is the same narrative for so many Nigerian customers.

    Please, somebody help me…why call it ‘Black Friday’ when the promo lasts from a certain date to end on another date very distant from the start date; why call it Black Friday, why not Black Weekend?

    How do you call a bonanza period which lasts for days “Black Friday”? Meaning it was designed to start and end on that day (Friday) – not a second more. What we find today is a twisted narrated and semantics for a day of the week to be equivalent to the entire week or even more.

    Is someone trying to play on our intelligence?

    Haven’t we suffered enough from sleazy and corrupt politicians and government officials whose job description is to loot our collective patrimony all in the name of giving us the dividends of democracy?

    I think the new narrative should be that they (politicians) have promised to give us a Black Friday (instead of dividends of democracy) because Black Friday in Nigeria is reminiscent to exploitation.

    No wonder my friend’s grandmother never liked the idea of Black Friday (not because she is old-school), because regardless of the many good that comes with the day as practiced internationally, here in Nigerian, it is merely a show and a bauble.

    Locally, especially in the Yoruba parlance, one can literally translate it to – “Oja Ale”; meaning night market.

    A well-grounded and cultural person knows that nothing good really comes from Oja Ale.

    For those that are already primed to mould and throw balls of accusations at the writer, did you know that e-commerce websites in Nigeria usually rake in billions of Naira in turnover this period than they normally would in a quarter (three months) of their business year?

    It is certainly a festival of dark, black and shoddy transactions at the expense of the majority of the Nigerian people.

    It is high time the Consumer Protection Council ( CPC ) stepped up its game and live up to its mandate of protecting the people from heartless and unscrupulous bourgeoisies who are wolves in sheep’s clothing.

    Dear Nigerians, please think twice before picking those items from your favourite e-commerce stores; it is sometimes advisable to walk into a physical store to price and pick the items of your choice that you need and not being manipulated online to impulsively pick items that you don’t need, at a very exploitative price.

    Be wise!

  • TBC: We are not in partnership with Jumia – Sembic

    Sembic International Limited has dismissed the report that it has signed a partnership agreement with Konga and Jumia to boost The Billion Coin (TBC) acceptance in the country.

    Sembic, in a statement, described the report as unfounded, saying it only signed up with both firms as independent sales agents.

    “Any arrangement for the purchase of cryptocurrency is strictly between us and our clients. We hope the false article has not caused any sort of embarrassment to Jumia and Konga,” it said.

    It said the acceptance of TBC, one of the global crypto currencies also known as digital currencies, has been boosted in Nigeria with the launch of an initiative –  MoPAS MarketPlace

    The MoPAS MarketPlace is a product of Sembic International Limited.

    This is the first time an indigenous company has created a solution for the acceptance of such currency in Nigeria.

    “TBC is one of the Crypto currencies making waves in the world. Many Nigerians have invested in TBC and they see their investment increase in value on a daily basis,” the company added.