Two top Nigerian online malls, Konga and Yudala, yesterday, merged to become Africa’s largest e-commerce platform. The decision emerged after Zinox Technologies, owners of the Yudala brand, acquired Konga a few months back. Konga, before it was acquired, was one of Nigeria’s largest online malls and Yudala, pioneer composite e-commerce company was also a strong offline and online retail shop.
The merger, which is said to take effect from Tuesday May 1, 2018, will see both companies operate under the KONGA brand name, to facilitate operation that can see them effectively become the biggest organized retail and e-commerce/marketplace outfit on the African continent.
The strategic decision will see the new company leverage the combined strengths of both platforms to broaden the scope of organized retail and e-commerce in Nigeria and deliver more value to customers and merchants. Chairman of Konga, Mr Olusiji Ijogun, while announcing the merger, stated:
“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” he added. He said “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. The CEO in charge of offline, Prince Nnamdi Ekeh said:
“We are very excited about the operational merger between Yudala and Konga into the new Konga. 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”.
The Konga Business platform will now include two 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