News
Zinox Group Acquires Konga for Undisclosed Amount
After months of strategic negotiations with foreign investors Naspers and AB Kinnevik, the Zinox Group, Nigeria’s foremost integrated ICT solutions conglomerate, is now the majority shareholder in e-commerce giant, Konga. This an unprecedented move that is widely expected to raise the profile of e-commerce in the country.
Naspers is a South Africa-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.
The development signifies a remarkable return to e-commerce for the Zinox Group, Original Equipment Manufacturer (OEM), after it pioneered e-commerce in Nigeria with the launch of BuyRight Africa.com, which struggled to cope with the absence of credit card and e-payment infrastructure over 12 years ago.
The acquisition is also understood to have passed all regulatory approvals by the Securities and Exchange Commission.
Details of the mega deal indicate that the Zinox Group, arguably Africa’s most integrated technology group, will assume ownership of the e-commerce group which includes Konga.com, Nigeria’s largest online mall; KongaPay, a Central Bank of Nigeria-licensed mobile money platform with over 100,000 subscribers and rated as one of the best mobile money channels in the country; as well as KOS-Express, a digitally-driven and world class logistics company with advanced delivery capabilities for Konga and other structured companies nationwide.
The acquisition is seen by industry watchers as a landmark development that could see e-commerce in Nigeria finally unlock the massive revenue potential in the global multi-billion-dollar industry.
In 2017, retail e-commerce sales worldwide amounted to $US2.829 trillion, while e-retail revenues are projected to grow to US$4.48 trillion in 2021.
Coming at a time when global e-commerce spending is expected to top previously unheralded levels, the acquisition is widely expected to reposition Konga for a greater share of the e-commerce purse in Nigeria and beyond.
The acquisition is also expected to create employment opportunities for over 5,000 Nigerians, both at home and in the Diaspora.
Gideon Ayogu, Head of Corporate Communications at Zinox Group, who confirmed the development, disclosed that the organisation was keen to take e-commerce in Nigeria to hitherto-unprecedented heights.
“We have always had an interest in Konga and another big one you know very well but our priority was Konga first because of her integrated nature of four quality companies in one,” he disclosed.
“Konga is a world-class, professionally-run company whose landmark strides in the sector has gone a long way in ushering millions of Nigerians into the ease and convenience of online shopping and boosting the conduct of e-commerce in the country. Konga’s integrity is their pride.
“Today, many Nigerians can attribute their first experience of e-commerce to Konga.com and we are excited to be a part of this remarkable story. Many shoppers can also attest to the speed and efficiency in delivery that characterises Kos-Express, the company’s logistics arm, which is arguably the best in the sector at the moment.
“Our ambition is to up the tempo by revolutionising e-commerce on the African continent with Konga at the fore-front of this initiative. In addition to positioning the business on a path of profitability in the short term, our long term plans are focused around seeing Konga well established in other African capitals. Furthermore, we will be unveiling a lot of new initiatives soon and we advise shoppers and merchants alike to look out for these innovations which will radically reshape the average customer experience of e-commerce in Nigeria and on the continent and put more money in their pockets,” he noted.
Led by serial digital entrepreneur, Leo Stan Ekeh, the Zinox Group has grown from a position of strength to become one of the biggest names on the African technology scene. With its headquarters in Lagos, Nigeria and branches all over the country in addition to hubs in Africa, Asia, Europe and the Middle East, the Zinox Group boasts a 360-degree spectrum orientation as an integrated ICT solutions group with advanced competencies in manufacturing, special ICT projects, integrated solutions, e-commerce, retail and after-sales support, among others.
News
Widows, Wives and More than 2,000 Residents of Ikeja Police Barracks Benefit from YP4T’s Initiative
More than 2,000 individuals from the Ikeja Police Barracks community benefited from an impactful outreach program spearheaded by Young Professionals for Tinubu (YP4T), an advocacy and support group working in alignment with the Renewed Hope Agenda of President Bola Ahmed Tinubu.
The initiative provided critical medical services, care packages, food supplies, and financial assistance to widows, wives, and vulnerable residents, demonstrating the heart of nation-building through community-centered support.
The program, which united healthcare professionals, community organizers, and volunteers, complemented the government’s broader efforts to bring essential services closer to the people.
Residents of the Ikeja Police Barracks received free medical consultations, blood pressure and diabetes screenings, and wellness advice. Widows and families also left with care packages filled with food items, toiletries, and financial support to help alleviate the pressures of the holiday season.
Dr. Love V. Tinuoye, CEO of Medvita Consultancy and the lead doctor on-site, reflected on the impact:
“This initiative reflects a collective commitment to advancing healthcare in Nigeria. We were able to screen for and address critical health issues such as hypertension and diabetes while also providing preventive care like vaccinations and cancer screenings. This is what true community-focused care looks like.”
Beyond medical services, the outreach distributed care packages containing food staples, toiletries, and financial support, designed to alleviate the challenges faced by vulnerable members of the police barracks community.
The event highlights the ongoing efforts under the Renewed Hope Agenda to provide inclusive support for Nigerians across the country. Initiatives like this not only extend access to essential services but also strengthen the fabric of communities.
Mrs. Jumoke Elom, a businesswoman and beneficiary, shared her gratitude:
“I am deeply grateful for this program. The care my family received today—both medical and material—has given us hope and reminded us that we are not alone. It shows that there is real support for families like mine.”
The outreach program was also a platform for demonstrating the principles of nation-building through collaborative action. Alex Oware, Security Expert and Director of YP4T, explained the motivation behind the initiative: “The Renewed Hope Agenda is about about bringing real transformation to communities. This initiative embodies that vision by supporting over 2,000 people—not just through tangible resources, but by reaffirming their place in the collective growth of our nation. It lies at the soul of Renewed Hope: fostering resilience and creating opportunities for all Nigerians.”
The outreach program extended beyond healthcare, providing food and financial support to families within the police barracks. A touching moment involved a widow who, after receiving her care package, expressed her gratitude with tears of joy. Her story is just one of many that reflect the transformative power of collective action.
This initiative by YP4T—an advocacy and support group of Nigerian professionals from across the globe—represents a continued commitment to driving grassroots impact, inspired by President Tinubu’s vision. The success of the Ikeja outreach program demonstrates the power of collaboration between the public and private sectors to deliver meaningful change across Nigeria.
News
Matawalle Salutes Nigerian Military, Citizens at Christmas
… Calls for Love and Peaceful Coexistence
The Honourable Minister of State for Defence, H.E. Dr. Bello Mohammad Matawalle, has extended warm greetings to the Nigerian military and all citizens, both Christians and non-Christians, during this joyous Christmas season.
In his message, he emphasized the importance of embodying the spirit of love and peaceful coexistence, urging all Nigerians to reflect on these values not only during the festive period but throughout the year.
“This season serves as a poignant reminder of the enduring principles of peace, unity, love, and sacrifice that bind us as a nation,” he stated.
The Minister encouraged every Nigerian, regardless of their religious beliefs, to celebrate and honor President Bola Ahmed Tinubu, GCFR, as well as the brave men and women of the Armed Forces who tirelessly demonstrate their patriotism in safeguarding the safety and sovereignty of our beloved country.
Highlighting the significance of the yuletide season, he noted that it should reinforce our bonds of unity, foster a spirit of camaraderie, and inspire compassion towards one another. He called on all citizens to remain steadfast in their collective efforts to build a secure and prosperous Nigeria.
In conclusion, the Minister wished everyone a Merry Christmas and a Happy New Year.
Henshaw Ogubike, MNIPR, FCAI, FSCA, FCPE
Director of Information, Press and Public Relations
…Says no government has shown so much support to LGs, State Governments like President Bola Ahmed Tinubu….
The Minister of State for Defence, Dr. Bello Mohammad Matawalle, has expressed confidence that the administration of President Bola Ahmed Tinubu GCFR will significantly enhance the economies of Zamfara State and Nigeria as a whole.
Matawalle who is currently on a five-day visit to his home state, the Minister and former Governor of Zamfara commended President Tinubu for his unprecedented support for Local Government Councils and state governments. “No previous administration has demonstrated such a strong commitment to developing local councils and states as President Tinubu,” Matawalle remarked.
He highlighted the President’s role as a grassroots mobilizer, emphasizing his passion for local development. “President Tinubu has allocated substantial funds to states and local government councils, enabling them to undertake impactful development projects,” he added.
Matawalle urged party supporters to collaborate with their leaders to reclaim the lost mandate from the ruling Peoples Democratic Party (PDP) in Zamfara State. “It is essential for all APC members to remain law-abiding citizens,” he stated, reinforcing the party’s commitment to uphold the law.
Addressing a large gathering of supporters who welcomed him, Matawalle reassured them of the federal government’s ongoing efforts to combat banditry and terrorism in the region. “With the federal government’s initiatives to address security challenges, we will soon experience a renewed sense of safety and peace,” he emphasized.
He concluded his address by urging the community to continue supporting the government at all levels. “Together, we can restore peace and order in our country,” Matawalle affirmed.
Stanbic IBTC Capital leads Presco PLC’s ₦82.9 Billion Bond Issuance to drive West African market growth
Portugal Football Club Signs on 19-Year-Old Nigerian- born Footballer, Yaqub Usman-Malah
Minister Commends Guards Brigade for Exceptional Service in Securing the Seat of Government
LASG Acquires New Outboard Engines For Optimum Boat Performance
Elon Musk builds Hotel in Mars, Sets to launch soon at $5million per night – Photos
