Zinox Acquires Konga in Landmark Industry Deal

The Zinox Group, an integrated Information Communication Technology (ICT) solutions conglomerate and Original Equipment Manufacturer (OEM), has concluded the acquisition of e-commerce giant, Konga in a move that is expected to raise the profile of e-commerce in the country, THISDAY learnt yesterday.

An industry source who revealed this, also said the transaction had been approved by the Securities and Exchange Commission (SEC).

The acquisition has been viewed by industry watchers as a major development that could see e-commerce in Nigeria finally unlock the massive revenue potential in the global multi-billion-dollar industry.

In addition, the move is expected to see Zinox make a bold return to an industry it pioneered in Nigeria with the launch of BuyRight Africa.com which was challenged by the absence of credit card and e-payment infrastructure when it was launched over 12 years ago.

ThisDay, February 3, 2018

 

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