04/02/2018

Zinox Group Acquires Konga With All Its Assets in a $10m Deal



This year is indeed the year of acquisition, as this will be the second major acquisition that will happen this 2018. 


In 2015, Konga acquired  Zinternet owning 100% of Zinternet’s assets, including its mobile money license. Now, Konga has been acquired by The Zinox Group, an integrated ICT solutions and equipment manufacturer, also the parent company of Yudala.

Konga Acquired by Zinox
Zinox Group will assume ownership of the e-commerce group which includes Konga.com, Nigeria’s largest online mall; KongaPay, a CBN-licensed mobile money platform with over 100,000 subscribers as well as KOS-Express, a digitally-driven logistics company.

The company said the acquisition was expected to create employment opportunities for over 5,000 Nigerians, both at home and in the Diaspora within a short period. 

Zinox being the parent company of Yudala acquired the company for $10m – $15m and the acquisition has passed all regulatory approvals by the Securities and Exchange Commission.

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19 comments :

  1. Chai!! All powerful Konga.
    Lets see how it goes. Something good must come out of it

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  2. Does this mean that yudala and konga will merge.

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  3. Hmmm hope something good will come up. My own problem is that I ordered for an android Tv box on jumia for almost a week and they has not delivered it.

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    1. It might be a global order and such orders take up to a month to get delivered

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  4. I wonder what could have led to the acquisition.

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  5. Konga has been struggling since. U can hardly see item tagged 'sold by Konga' on the platform. Hopefully this acquisition will bring life to online business in Nigeria

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  6. I saw this news somewhere and I thought it was fake.

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  7. Yudala + Konga = Yudonga!
    Potential here, somebody? Lmao

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  8. Konga has always been living under the shadow of jumia..gud buy for zonix

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  9. I never knew zinox was still in existence, because for a long time I haven't seen any product from them. I'll visit their site to see if they have something new.

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  10. I have heard of Zinox before
    But I just can't remember where

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  11. As long as jumia exists, Konga will always be a second fiddle

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  12. They can now compete with jumia

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  13. Never liked their Site layout. prefer jumia.com every day.

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  14. Let's see if they gonna improve somehow

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