Konga backdrop
Konga, Nigeria’s foremost retail giant, is more than an e-commerce company, it is a public-spirited, people-driven solution centre where both individual and business-to-business needs are met.
Co-CEO at Konga and former Vice President of Nokia, Nick Imudia, disclosed this in a brief chat with airport correspondents at the Murtala Muhammed International Airport on his arrival from a trip overseas while fielding questions on the state of e-Commerce in Nigeria.
While disclosing that e-Commerce in Nigeria is still at its developmental stages due to Nigeria’s peculiar challenges which are well known to all and which will require some time before they are fixed by government and her people, Imudia noted that there is no option to e-commerce not only in this century but beyond as it is an expensive project but whose anticipated returns are good.
Reacting on the influence of Konga in the e-Commerce sector, he revealed that Konga can be described as the life-blood because of her innovation ranging from pioneering the marketplace structure, composite nature, first party, B2B (business to business), cutting-edge payment systems and digital logistics in addition to more to come.
“This is why I said we are more than an e-commerce company. There is no reason why Konga cannot emerge as the first profitable e-Commerce company in Africa. Over the past 18 months since the business was acquired by the Zinox Group, there has been a huge transformation which has repositioned Konga as one of the most viable ventures not just in Africa but globally, as justified by our elevated rating by Early Metrics,” he enthused.
Continuing, Imudia added: “Konga is e-Commerce plus. We are not only a major player in the emerging e-Commerce space in Africa but a technology-driven, multi-faceted group facilitating trade and commerce on the continent. Today, the Konga Group includes not only the Omni-channel platforms but Konga Pay, Kxpress and Konga Travel, among others. This is why the business remains a much sought-after destination for investors.”
Quizzed on why Konga had not raised any form of capital from investors, Imudia noted that the management of the new Konga was more interested in restructuring and positioning the business on the path of consistent growth rather than rush to raise money.
“I am also sure you know the owners of Konga, they have capacity and huge experience of the market and like our Chairman – Mr. Siji Ijogun would always remind us, Konga is not in business to lose money or for corporate plastic surgery.
“The management of Konga has enough resources to drive the company’s ambitions of becoming number truly number one in Africa. Konga is a public trust and we will only partner with value-adding investors and not just cash investors. We are prepared for the long term and have been investing hugely in technology, storage capacity and digital logistics nationwide for the big picture which must happen. Without mincing words, we will be the first e-commerce platform to deliver profit to stakeholders possibly in the world because we understand the business and 2021 is our target,” he concluded.
