Nigerian Largest Leading E-commerce giant, Konga, has been acquired by Zinox Group – ICT solutions conglomerate and OEM. The acquisition is expected to raise the profile of e-commerce in the country and provide employment to Nigerians in the country and in diaspora.
Meanwhile, an industry source revealed that the transaction had been approved by the Securities and Exchange Commission (SEC).
As part of the acquisition, Zinox Group would assume ownership of the E-commerce group, which includes: Konga.com, KongaPay and KOS- Express.
Mr. Gideon Ayogu, the Head of the Corporate Communications, Zinox Group, confirmed the development, said:
“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.”
The acquisition was seen as a major development that could see E-commerce in Nigeria finally unlock the massive revenue potential in the global multi-billion-dollar industry.
What’s your say about the acquisition of Konga?