ELECTRONIC commerce and retail firm, Konga, has achieved more than 750 per cent improvement on its valuation since it was acquired by Zinox Group over a year ago.

The Co-Chief Executive Officer, Konga Group, Mr Nick Imudia, who made this known on Thursday, said that the company had recorded significant growth in the past 12 months in various areas of the business.

According to him, this has made Konga more than just an e-commerce company.

Imudia said that Konga had transformed into a multi-faceted group with an internally-owned advanced digital logistics company, cutting-edge payment solution, travel booking agency, huge technology backbone and massive regional warehousing facilities.

He said that the company had pioneered the marketplace structure and redefining the scope of customer experience in the e-commerce industry, among many other upcoming innovations.

According to him, the huge transformation has repositioned Konga as one of the most viable ventures, not just in Africa but globally.

“Konga is on track to become the first e-commerce company to turn profitable in Africa. There is no reason why it cannot emerge as the first profitable e-commerce company in Africa.

“We are determined to set this record in the e-commerce world and from the evidence on ground, we are on course to fulfil the promise made to our stakeholders in turning profitable by the 2021 financial year.

“We understand this market more than any competitor and have been investing creatively nationwide to resolve issues like warehousing, delivery logistics and payment headaches.

“We have worked with Microsoft in the past five months to deploy the most robust technology platform that will manage our aggressive expansion.

“We are almost there and few weeks from now, the nation will start feeling the power of Konga before we start rolling out to other English-speaking West African countries,’’ he said in a statement.

Imudia said 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 ambition of becoming number one in Africa.

“As a result, Konga is not looking to rush to take investors’ funds, even though we have received quite a number of very good offers from potential investors in the past few months.

“We want to make it profitable first and then invite value-adding investors, not just cash investors.

“I am sure you know the capacity of our investors. They are experienced, successful and have combined local knowledge and international network of over 35 years,’’ he said. (NAN)

– Apr. 4, 2019 @ 18:37 GMT |