IFE OGUNFUWAAn integrated ICT solutions and equipment manufacturer, The Zinox Group, has acquired Konga after several months of negotiations with major investors — Naspers and AB Kinnevik. As part of the acquisition, Zinox Group will assume ownership of the e-commerce group which includes Konga.com, Nigeria’s largest online mall; KongaPay, a CBN-licensed mobile money platform with over 100,000 subscribers as well as KOS-Express, a digitally-driven logistics company. According to the group, the acquisition has passed all regulatory approvals by the Securities and Exchange Commission. The company said the acquisition was expected to create employment opportunities for over 5,000 Nigerians, both at home and in the Diaspora within a short period. According to the Head of Corporate Communications, Zinox Group, Gideon Ayogu, the decision to invest in Konga is an easy one for the organisation.

Source: Punch February 04, 2018 00:11 UTC