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
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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