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BOSS NEWSPAPER
Konga Projects $10million Daily Turnover By 2024
P
opular e-commerce outfit, Konga has revealed that the business is aggressively working towards hitting the $10 million daily turnover mark by 2024 as committed to investors. To realize the target, the company disclosed that the growth trajectory and overall operational efficiency backed by the consistently reduced losses it has witnessed are critical factors in the projections. Making known the brand’s ambitious plans was Nick Imudia, co-CEO, Konga (Online). Imudia revealed that ecommerce is the riskiest business anyone can attempt in the 21st Century. However, he stated that Konga is putting the necessary machinery in place to achieve the goal. To this end, he stated that Konga would work assiduously to reach a target of $5 million daily turnover by 2022 as
preparation towards realizing the $10 million set target by the end of 2024. ‘‘It is an extremely ambitious target. But we must deliver as we do not really have a choice,’’ he told journalists. Since its entry into the Nigerian e-commerce market as one of the foremost pioneers in the sector, Konga has stood out; with its several revolutionary strides first launching what is known as market place and then composite e-commerce in Africa, ultimately catapulting it to the top position in Nigeria’s ecommerce sector. “Konga has used the last decade to lay a solid foundation for ecommerce business in Nigeria and to build trustworthy relationships with customers and potential investors across the Nigerian business spectrum. With the high level of trust, the brand has
gained among shoppers in and out of Nigeria, it is safe to say Konga is ready to scale big in the early part of this third decade. Therefore, we are targeting $10 million daily turnover by 2024. We shall attain half of this target at least by 2022. To meet this target, we would be relying on the e ff i c i e n c y w e h a v e brought to bear on the business and the renewed confidence the Konga brand enjoys among critical stakeholders. “There is no iota of doubt that Konga remains in prime position to attain this target, especially when one looks at the consistent growth the brand has recorded in the past years. Konga has grown over eight times since the business was acquired by the Zinox Group. Secondly, we have consistently reduced our losses by nearly 70 percent. Added to this is the addition of new and thriving business units
such as Konga Travel, among others, all of which have enjoyed huge growth and massive acceptance by our rapidly expanding customer base,” Imudia said. Konga, which remains the only e-commerce brand in Nigeria operating an omnichannel structure, currently has more than 32 stores across the country. With the aid of KongaPay, a Central Bank of Nigeria (CBN) licensed payment platform, which recently added Automated Teller Machine (ATM) cardless withdrawal and U n s t r u c t u r e d Supplementary Service Data (USSD) features, Konga has captured more Nigerians in the ecommerce net, while l e n d i n g a n unprecedented level of ease and refinement for online shoppers across the e-commerce landscape.
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