Nigeria’s Zinox Group Acquires Nasper-backed Firm Konga

Nigeria's Zinox group has acquired Napster-backed e-commerce giant and online mall, Konga, along with its subsidiaries Kongapay and KOS Express.

Nigeria’s Zinox Group has acquired Naspers’-backed e-commerce firm Konga to take on Jumia across Africa.

Launched in July 2012, Konga has always wanted to become the engine of commerce and trade in Africa offering a platform for merchants to sell Phones, Computers, Clothing, Shoes, Home Appliances, Books, healthcare, Baby Products, personal care and much more.

Friends at Zinox Group said, “Our ambition is to up the tempo by revolutionizing e-commerce on the African continent, with Konga at the forefront of this initiative. In addition to positioning the business on a path of profitability in the short term, our long-term plans are focused around seeing our acquisition well established in other African capitals.

Zinox is also expected to use Konga as a channel to drive its original devices such as laptops and phones to more markets in Africa and work with both online and offline merchants as pick-up and drop-off points.

This is huge for Zinox as Konga already has shoppers and merchants using the platform around the clock.

Konga will also get the new capital injection it needed to take on Jumia across Africa especially in Key markets like Kenya, Ghana, North Africa among others.

The deal, already approved by the Securities and Exchange Commission (SEC) will see Zinox restore its former glory as the pioneer of the eCommerce industry twelve years ago with, a platform which was too early for the market and died quickly.

The acquisition also gives Zinox, KOS-Express, the logistics business and KongaPay, its payment platform which is licensed by the Central Bank of Nigeria and has over 100,000 subscribers.

Zinox Group is said to have been in discussions with Naspers and AB Kinnevik for several months. Konga has raised over $25m from both investors.

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Mac-Jordan Degadjor

Award winning Ghanaian Technology and Startup Enthusiast. Passionate about the inter-correlation of technology, entrepreneurship and innovation within the African tech ecosystem. Tweet: @MacJordan Got news, products or services to promote on the blog, reach out via hello[at]macjordangh[dot]com or (+233) 544335582