Zinox’s Konga acquisition paves way for potential Yudala merger

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Leo Stan Ekeh-led ZInox Group are the new owners of Konga.com as confirmed by the group’s Head of Corporate Communications, Zinox Group, Gideon Ayogu.

While the exact figures of the acquisition are yet to be made public, ThisDay reported that Zinox now owns the e-commerce platform, Konga.com; KOS-Express, the world class logistics arm of the business and KongaPay, the company’s integrated mobile money payment channel with over 100,000 subscribers. 

Zinox had for long expressed interest in ecommerce in Africa. It was one of the first to launch ecommerce platforms with BuyRightAfrica.com back then when digital payment options were not available. Furthermore, the son of the group’s chairman is the founder of Yudala which offers online and offline ecommerce options thus suggesting that a potential Konga-Yudala merger may be in the works to wade off competition and make it one of biggest e-Commerce companies in Africa.

“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 and boosting the conduct of e-commerce in the country,” Ayogu said.

Zinox’s plan

The company revealed that with the acquisition, it is seeking 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, Zinox added that its 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 added. 

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