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What Nigerians Think About Zinox’s Acquisition.

This weekend was all about an acquisition that many didn’t see coming — Zinox Group officially acquired Konga and all of its assets, including Konga.com, KOS Express, and KongaPay, a CBN-licensed mobile money platform with over 100,000 subscribers, for $10 million. However, It would interest you to note that this deal was a long time coming:

Also, contrary to what people think, Zinox Group acquired Konga exclusively, which means that Yudala (also under Zinox), has no stake in the acquisition. With that cleared, a lot of techies on Twitter shared their opinion(s) on what can be considered to be one of the biggest acquisitions of 2018.

For those who felt that Konga should be worth more than $10m:

To those who think otherwise:

https://twitter.com/efeozore/status/960151496083103744

Then we have techies like Marek  and Victor Asemota who saw this coming way before it happened:

And those who tried to explain why it happened that way:

Of course, there are people who question Yudala’s current marketing strategies and how it would affect Konga:

And those who have started predicting Konga’s future: 

 

On that note, Zinox reveals that with the acquisition, it intends to “up the tempo” by revolutionizing e-commerce with Konga at the forefront of this initiative. In addition to positioning the business on a path of profitability in the short term, Zinox added that its long-term plans are focused around seeing Konga well established in other African capitals. 

Asides from strengthening Konga and the face of e-commerce in Nigeria, the acquisition is also expected to create employment opportunities for Nigerians:

 

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    5 comments on “What Nigerians Think About Zinox’s Acquisition.

    1. ỌBÁDÁRÀ says:

      … WELL, ITS BEEN A LONG TIME SINCE I HAVE COME TO THE BELIEVE THAT KONGA WOULDN’T LAST. THANK GOD FOR THE ACQUISITION BY ZINOX. NOW, IF KONGA CAN’T PERFORM WELL, THEN WE CAN ASSUME THAT YUDALA MAY ALSO BE GOING OFF TRACK BECAUSE IT HASN’T BEEN DOING WELL TOO AND BEING OWNED BY THE SAME PARENT COMPANY.
      TO ME, THAT’S THE BIGGEST TECH ACQUISITION NEWS IN THE PART OF THE WORLD THIS YEAR…

    2. Otas says:

      Mehnn, I’m lost… Tobi do us (the Novis) a favour and explain please.. Who is Zinox, who is Yudala?… Is Yudala and Jumia the same thing? Is Zinox also the owner of Jumia?

    3. michael says:

      mehn…dis is really huge for Zinox, a bold move. Visit http://alphatekng.com for mind blowing tech gists

    4. LA says:

      Yudala is the only Nigerian emarket that sell original electronics. Their critics should back off. I’m also not surprised that Konga was bought for $10 million. #JustSaying

    5. Getting Konga for 10m usd is a great deal for zinox .. I’m happy they pulled it through.

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