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Zinox Group Acquires Konga for Undisclosed Amount

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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.

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Ekiti Students Caught On Camera Bullying A Fellow Student, Have Been Expelled

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The management of Bamidele Olumilua University of Education, Science and Technology, Ikere-Ekiti (BOUESTI) has expelled two of its students filmed assaulting a female colleague.

A video recently went viral on social media of a student hitting her fellow student with a stick that was handed to her by another student. The bully had kept insinuating that she would draw blood from her victim.

Reacting to the incident, the Public Relations Officer of the institution, Temitope Akinbisoye, in a statement released, said the students caught in the video were summoned on Monday, May 6 and were meted the appropriate punishment for their actions

”In accordance with our institution’s policies and extant regulations, the students who were captured in the viral video appeared before the Students’ Disciplinary Committee at its emergency meeting held on Monday, May 6, 2024, for interrogations and appropriate recommendations, the report of which has been submitted to the University authorities.

The University authorities condemn in strong terms, any form of violence or misconduct in our University or by any of our constituents. Such behaviour is entirely inconsistent with the values we uphold and the standards of respect and dignity that we expect from all members of our University.

Miss Opemiposi Precious BOLAJI with Matriculation No. 10232, a 100L Mass Communication student who was beating her colleague with a stick and threatening to inflict bodily harm on her for allegedly destroying her 3-year old love affair with her boyfriend was found guilty of misconduct and flagrant breach of her matriculation oath and consequently EXPELLED with immediate effect.

Miss Genesis OSARO, a 100L Mass Communication student with Matriculation No. 10257, who provided the stick with which Gloria AJAYI was beaten, was found guilty of misconduct (as an accomplice) and flagrant breach of her Matriculation oath and consequently EXPELLED with immediate effect.

Miss Gloria AJAYI, a 100L Mass Communication student with Matriculation No. 10295, who was seen being beaten in the viral video but did not retaliate or engage in fisticuffs with her tormentors, was EXONERATED.“

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“80% Of Buildings In Lekki Have No Approval” – Lagos State Commissioner For Physical Planning & Urban Development Reveals

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The Lagos State Commissioner for Physical Planning and Urban Development, Dr Oluyinka Olumide, has stated that 80 per cent of buildings in Ibeju Lekki have no approval.

Olumide disclosed this while speaking to newsmen recently.

In his words; “Just last week Thursday and Friday, myself and the team were in the Ibeju Lekki and Epe axis and you would agree with me that anybody passing through that corridor would see a lot of estates marked. We went there, and I can tell you that from what we saw, over 80 per cent of them do not have approval.

The procedure to get approval is first to get the planning information, as to what those areas have been zoned for. In this case, what we have is agricultural land, and people now go to their families to buy agricultural land. Of course, those lands would be sold because those families do not know the use such land would be put to.

The next thing to do is the fence permit. If you missed the earlier information on not knowing the area zoning, at the point of getting the fence permit, you would be able to detect what the area is zoned for. After that, the layout permits a large expense of land follows.”’

Olumide noted that a layout permit cannot be obtained if it is not zoned for the purpose it was designed for or for the purpose it was being requested.

“So, you can see all these layers, but people still go ahead to start advertising. Some have even gone to the extent of displaying the sizes they want to sell. Imagine someone in the diaspora who wants to send money without any knowledge. Then, no approval is eventually gotten. Even if they pass the assignment and the survey to them, we would not grant the individual permit, because that area is not zoned for that purpose’’ Olumide said

This partly explains why some of the houses are being turn down currently in the state.

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Lady Dies After Friends Pushed Her Into Boiling Pot Of Fresh Pepper In Delta State

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A Nigerian man identified as Israel Joe, has revealed how his friend, Roseline, died after she was pushed into a boiling pot of fresh pepper and tomatoes by her two female friends in Sapele, Delta State.

Joe stated that Roseline, a caterer, went on a trip with her friends to Sapele for a catering job where the bitter ordeal occured.

She tragically passed away on Saturday, April 13 after spending two weeks at the hospital in a very horrible state.

In a Facebook post on Friday, Joe said that before her untimely death, Roseline confided in him about two of her friends who were treating her coldly.
And he has vowed to bring them to justice.

This is such a heartbreaking event.

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