IFE OGUNFUWA
An 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.
Naspers, based in South Africa, is a broad-based multinational Internet and media group, offering services in more than 130 countries while AB Kinnevik, founded in 1936, is a Swedish investment company investing primarily in digital consumer brands.
A statement by the company said through the acquisition, the Zinox Group would expand its operations into e-commerce, an industry it pioneered in Nigeria with the launch…
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