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Friday, April 20, 2018

The koko of Konga, Yudala merger

For the followers of trends in the nation’s electronic commerce industry in Africa and particularly in Nigeria, the recent eventual merger between Konga and Yudala, did not come as a surprise.

The koko, ITRealms reveals, as said the local parlance in Nigeria on this matter, is that the newly acquired Konga by Zinox Group has finally merged with Yudala, among other things to change for good the face of the largest e-commerce conglomerate on the continent.

The acquisition of Konga, if anything else has been proclaimed a highly strategic movement; ushering in supreme leadership of the e-commerce space per Africa as anticipated by industry watchers and the merger was concluded last Sunday April 15th, 2018 in Lagos.

For a second, a few industry watchers predicted Yudala was subsume Konga as an older in-house brand, but Konga took the shine with a new logo depicting the latest status.
By far, what some other industry watchers are seeing is that Yudala is not done yet and could and definitely be up for another surprise in enlargement of the coast for the Zinox Group.

Recalling in effect, that in their views earlier, a merger between both companies will involve a synergy of Konga’s impressive online platform and robust technology as well as Yudala’s ubiquitous physical store presence and access to genuine products.
Equally, the merger will significantly raise the combined market share of both companies, effectively making the emerging force the biggest e-commerce company in Nigeria.

Whereas there is widespread optimism that the combined strengths of Konga and Yudala will significantly broaden the scope of e-commerce in Nigeria, but will also go a long way in improving consumer experience by lending more ease and convenience to the shopping process, offering more options to potential and existing shoppers and expanding access to an even wider range of products, services and solutions for Nigerians.

ITRealms recalls that Konga, founded in July 2012, has proven dominance until its latest acquisition by the Zinox Group, following months of intense negotiation with major investors, Naspers and AB Kinnevik.

And as soon as accomplished, Zinox Group delayed no further in proclaiming a few strategic management changes including the appointment of Olusiji Ayodele Ijogun, a seasoned and widely experienced technocrat as Chairman and Nick Imudia, a renowned business leader and former Vice President of Nokia as Chief Executive Officer (CEO).

On the other hand, Yudala, prides itself with enviable status of being Africa’s pioneer composite e-commerce company that was launched a little over two years ago, Yudala's ambitious retail roll-out strategy and network of physical stores has helped the company reach many unserved and under-served members of the Nigerian populace. The company has also been bold in making a statement of intent with its emphasis on genuine products and best prices.

Finally, the reiteration of the koko of the merger may not after all be out of place as to whom much is given, much is expected as we say welcome to the merger and a bigger Konga to the industry.

Remmy Nweke/ED, Ops

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Pix 1: Konga Chairman, Olusiji Ijogun (middle) poses with dual Chief Executive Officers, Nick Imudia (left) and Prince Nnamdi Ekeh (right) during the official announcement of the operational merger between Konga and Yudala on Sunday April 15th, 2018. Both companies will now operate under the Konga brand. 

Pix 2: Konga Chairman, Olusiji Ijogun (middle) congratulates dual Chief Executive Officers, Prince Nnamdi Ekeh (third right) and Nick Imudia (third left) as Marketing Lead, Seye Bandele (left); Vice President, People Engagement, Ikeoluwapo Adebowale(second left); Vice President, Offline Retail, Kalu Johnson (second right) and B2B Lead, Loretta Agbakoba (right) look on during the official announcement of the operational merger between Konga and Yudala on Sunday April 15th, 2018. Both companies will now operate under the Konga brand. 

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