Konga, Nigeria’s largest online mall, and Yudala, Africa’s pioneer composite e-commerce company, have officially announced a merger of their operations in a landmark industry achievement that sees them effectively become the biggest organised retail and e-commerce/marketplace outfit on the African continent.
The business merger, which takes effect from May 1, will see both companies operate under the Konga brand name, and market watchers have posited that the merger is positioned to further strengthen Nigeria’s eCommerce sector, estimated to worth $13 billion currently, with over 400,000 orders daily.
The strategic decision, which was inked on Sunday in Lagos, will see both companies leverage the combined strengths of both platforms and is expected to further broaden the scope of organized retail and e-commerce in Nigeria.
“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,” disclosed Konga Chairman, Olusiji Ijogun.
He said: “Effective from May 1, 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 while Prince Nnamdi Ekeh 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.
“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. We will be working closely with all our combined clients, customers, merchants and employees to make the integration process as seamless as possible and thereafter make public our road map to sustain our leadership on the continent,” Ijogun said.
Zinox Group, which owns Yudala, had on February 3, acquired 100 per cent stake in Konga and now brought both eCommerce players together.
According to Zinox Group, one of the exciting benefits of this merger is the possibility it offers prospective shoppers to order online, pay and pick-up the product(s) at the nearest Konga offline store.