Zinox Group has acquired Nigeria’s second largest e-commerce platform, Konga.com which remains one of the biggest players in the sector.
Together with the deal is KOS-Express, the logistics arm of the business and KongaPay, the company’s integrated mobile money payment channel with over 100,000 subscribers.
The mega deal approved by Securities and Exchange Commission (SEC), is expected to raise the profile of e-commerce in the country.
Industry analysts estimate that the acquisition could lead to the integration of Konga and Yudala, which is owned by Chairman Zinox Group, Mr. Leo Stan Ekeh’s son, to wade off competition.
