The largest Nigerian retail services, Konga and Yudala, have officially announced a merger of their operations to significantly alter Nigeria’s online retailing space in terms of size of operations and customers base. From May 1, both companies will now operate as ‘Konga.’
The strategic decision will see both companies leverage the combined strengths of their platforms and further broaden the scope of organized retail and e-commerce in Nigeria, as well as deliver more value to customers and merchants.
In a official statement, Olusiji Ijogun, Konga chairman said, “Combining forces to power the new Konga will enable us effectively achieve our goals of platform expansion and accelerated growth, as we embark on an ambitious journey to redefine the retail ecosystem with the industry’s most advanced technology.
In merging, Konga and Yudala will pretty much be carrying out an experiment to combine online and offline operations on a larger scale than ever before in Nigeria. Since its launch in 2015, Yudala has maintained offline retail outlets, 21 stores across 10 Nigerian cities, while Konga has garnered a reputation for its strong online presence and technological backbone. Its online marketplace listed over 10,000 merchants at the time of Zinox’s acquisition and it has pushed in-house solutions including KongaPay, a mobile payment solution, in response to Nigeria’s online payment problems. Those assets will now be combined with Yudala’s offline operations in Nigeria.
Full Content: Quartz Africa
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