Konga, Nigeria’s retail giant is on the verge of becoming the first e-commerce platform on the African continent to turn profitable. This new development would change the dynamics of the e-commerce space for good.
Nick Imudia, Ex-Vice President of Nokia and current Co-Chief Executive Officer, Konga Group disclosed this assertion by remarking that the ongoing huge strides recorded by the business within the past 12 months is a clear indication that Konga will keep her promises to stakeholders by the 2021 financial year, noting that from then on, it will be huge profit.
“We understand this market more than any competitor and have been investing creatively nationwide to resolve issues like warehousing, delivery logistics and payment headaches including working with Microsoft in the past five months to deploy the most robust technology platform that will manage our aggressive expansion.”, stated Imudia
He further asserted how Konga is reaching the peak of profitability and soon enough the retail giant platform would spread its tentacles beyond the borders of Nigeria to other English-speaking West African countries.
Konga is more than just an e-commerce company as it has grown more than 750% since the acquisition, this got disclosed after his return from a business summit in South Africa.
In an excited tone, Imodia further noted “There is no reason why Konga cannot emerge as the first profitable e-Commerce company in Africa. We are determined to set this record in the e-Commerce world. Over the past 18 months, since the business got acquired by the Zinox Group, there has been a huge transformation which has re-positioned Konga as one of the most viable ventures not just in Africa but globally, as justified by our elevated rating by Early Metrics,”
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.
“As you know our investors are people who take commercial decisions and are not into losing money as a lifestyle. The management of Konga has enough resources to drive the company’s ambitions of becoming number one in Africa. As a result, it is not looking to rush to take investor funds, even though we have received quite a number of very good offers from potential investors in the past few months.”
Konga’s management intends making the retail company profitable as its first priority and subsequently invites value-adding investors having local knowledge and international network of over three decades.