Konga and Yudala Confirm Merger, Reveal Brand Name and Roll-out Date
Two of Africa’s biggest e-commerce companies, Konga and Yudala, have officially announced a merger of the two companies. This merger will see them combine their operations and effectively become the biggest organized retail and e-commerce firm on the continent.
It's official. Konga and Yudala announce a merger of their operations in a move that will birth Africa's biggest e-commerce outfit #KongaYudalamerger
— Epicurean (@Gid077) April 16, 2018
The Business merger as announced is expected to take effect from May 1st, 2018 and would see Yudala dissolve into Konga with Konga trademark/brand name coming out on top. The Konga Business Platform will feature two separate, but fully integrated aspects, including Konga Online (the e-commerce/marketplace platform) and Konga Retail (the offline arm of the business).
This decision is coming after supposed reports of a merger by both companies, and it is expected that the merge would see them combine their strengths (Konga’s online presence and Yudala’s brick and mortar retail business) and cement the position of the firm in the Nigerian retail market. It would also position Konga as the first profitable e-commerce company in Africa.
The merger also takes effect on the 1st of May 2018. Konga will now have two CEO’s, Nick Imudia who will be in charge of online among others and Prince Nnamdi Ekeh who will be responsible for offline.
— Ugo Obi-Chukwu (@ugodre) April 15, 2018
Speaking on the merger, Olusiji Ijogun, Konga’s chairman says:
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.
Speaking further, he says that the dual CEOs in the persons of Nick Imudia and Prince Nnamdi Ekeh would be responsible for the online and offline platforms respectively.
I am not surprised at the Konga & Yudala merger. The Nigerian E-Commerce industry has become a difficult terrain. Perhaps, consolidation of efforts can do the trick.
— Nosike Ezebo. (@Kelvinsykes) April 16, 2018
With plans in store to have Konga store spread across the country, shoppers would be able to order online, pay and pick up the products at the nearest Konga offline store.
According to one the CEOs, Nick Imudia:
We believe this operational merger between Konga and Yudala will bring immense opportunities for consumers in the e-commerce space. We urge all shoppers, consumers, merchants and clients to stay tuned as we unveil the massive ambitious contents we have to offer.
One of the biggest, if not the biggest occurrence in Nigeria’s Ecommerce space has quietly been revealed -Konga, Yudala in strategic merger to rule e-Commerce in Africa https://t.co/lEErY0HNVT… #Nigeria @Gidi_Traffic #ecommerce #Retail #carthenaadvisory #Konga #Yudala #Africa
— Wólé Ôgundare™ (@jantiano) April 16, 2018
Also speaking on the merger, Prince Nnamdi Ekeh said:
We are very excited about the operational merger between Yudala and Konga into the new Konga. A merger of this magnitude has never been experienced in Africa. We will be leveraging on Konga’s strong technology backbone and online experience as well as Yudala’s offline experience, network of retail stores and operational efficiency.
The Konga Business Platform will also give customers and merchants more options as to offerings and payment methods as Konga Pay (a CBN-licensed mobile money platform) and Konga Express (a world-class logistics company with advanced delivery capabilities) will be fully supported.