The Zinox Group has reportedly acquired e-commerce platform, Konga but the financial details of the deal are yet to be publicly disclosed.
The acquisition includes the Konga brand as a whole; its eCommerce domain, Konga.com, KOS Express which is its logistics arm, and KongaPay, the integrated mobile money payment channel.
According to a ThisDay report, Head of Corporate Communications at the Zinox Group, Mr. Gideon Ayogu confirmed the acquisition. The report also confirmed that the deal was sanctioned by the Securities and Exchange Commission (SEC).
The Zinox Group is an ICT company and OEM with its own line of computers. The group has pioneered in many aspects of technology and innovation in Nigeria.
According to the terms of the acquisition, the Zinox Group will assume ownership of the e-commerce group, which includes Konga.com, an online mall; KongaPay, a CBN-licensed mobile money platform with over 100,000 subscribers and rated as one of the best mobile money channels in the country, as well as KOS-Express, a digitally-driven and world class logistics company with advanced delivery capabilities for Konga and other structured companies nationwide.
The acquisition is also understood to have passed all regulatory approvals by the Securities and Exchange Commission, SEC.
Zinox says its first priority in the acquisition is to reposition Konga for a greater share of the e-commerce market in Nigeria and beyond.
Source: Naija News