The Zinox Group, an integrated Information Communication Technology (ICT) solutions conglomerate and Original Equipment Manufacturer (OEM), has concluded the acquisition of e-commerce giant, Konga in a move that is expected to raise the profile of e-commerce in the country.We learnt the transaction had been approved by the Securities and Exchange Commission (SEC).
In addition, the move is expected to see Zinox make a bold return to an industry it pioneered in Nigeria 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.
According to details of the deal, Zinox Group, one of Africa’s biggest technology group would assume ownership of the e-commerce platform, Konga.com which remains as one of the biggest players in the sector; 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.
Konga 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 putting the business on a sound footing in the market.
With its headquarters in Lagos, Nigeria and branches all over the country in addition to hubs in Africa, Asia, Europe and the Middle East; the Zinox Group boasts a 360-degree spectrum orientation as an integrated ICT solutions group with advanced competencies in manufacturing, distribution, retail and after-sales support, among others.
GUYS, WHAT DO YOU THINK?
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Edited by: Endy Edeson
Photo News Editor: Endy Edeson
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FACEBOOK COMMENTS
Endy Edeson
@Ademola: Sure, I knew this would happen because of recent Konga restructuring
Douglas Deisho Orafa
And yudala will surely be the winner in all this round-about buyout.Yudala is owned by the son of the Zinox boss.Sure Dad doesn't want compete with son.
Endy Edeson
@Orafa: That's a good point you raised. Yudala and Konga may likely be merged except DAD and SON want to compete