One of Nigeria’s biggest online mall, Konga and Africa’s pioneer composite eCommerce company, Yudala have during the weekend announced the merger of business operations of the two companies in what industry watchers believe will alter the Nigeria’s commerce ecosystem.
The announcement is coming, after Zinox Group, owners of Yudala.com acquired Konga.com in a deal worth about 10- 15 million dollars a few months ago.
After the announcement, ITPulse considers nine things that must be noted.
- The merger will see them effectively become the biggest organized retail and e-commerce/marketplace outfit on the African continent, out-sizing Jumia who hitherto held sway to the position.
- Both companies will henceforth operate under the Konga brand name from May 1, 2018, and will leverage the combined strength to deliver value to customers and merchants.
- With investment in advance technology, the merger will possibly see to the redefinition of the eCommerce industry, which many people believe has been dwindling.
- The company will be run by two Chief Executive Officer 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.
- The merger offers increasing business opportunities for merchants nationwide, as prospective shoppers can order online, pay and pick-up the product(s) at the nearest Konga offline store.
- The merger has the potential to get a Konga store in each local government area of the country
- The merger will broaden the range of products and solutions on offer within the Konga/Yudala stable, while giving the customers and merchants more options and access to an expanded variety of guaranteed quality offerings and payment methods.
- The Konga Business platform will now include two distinct, but fully integrated aspects including Konga Online, the e-commerce/marketplace platform and Konga Retail, the offline arm of the business.
- The company 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.