Brands/Products
Konga to Unveil New Business Units, Eyes $10m Daily Turnover
By Adedapo Adesanya
Nigerian e-commerce giant, Konga, has said that it is on the path to reach $10 million in daily turnover by 2024.
This projection was made known by its joint Chief Executive Officer (CEO), Konga (Online), Mr Nick Imudia, he noted that this was a possible achievement based on its growth trajectory and operational efficiency backed by its loss reduction techniques.
“Konga has used the last decade to lay a solid foundation for e-commerce business in Nigeria and to build trustworthy relationships with customers and potential investors across the Nigerian business spectrum.
“With the high level of trust the brand has gained among shoppers in and out of Nigeria, it is safe to say Konga is ready to scale big in the early part of this third decade,” he said.
He said that that the commerce giant has put up crucial measures in place to see that its daily turnover witnesses the anticipated upsurge in the next four years.
According to Mr Imudia, Konga was working hard to reach a daily turnover of $5 million in the next two years (2022), and working on that, hit the set mark of $10 million by the next two years after that.
“Therefore, we are targeting a $10 million daily turnover by 2024. We shall attain half of this target at least by 2022.
“To meet this target, we would be relying on the efficiency we have brought to bear on the business and the renewed confidence the Konga brand enjoys among critical stakeholders.
“There is no iota of doubt that Konga remains in prime position to attain this target, especially when one looks at the consistent growth the brand has recorded in the past years. Konga has grown over eight times since the business was acquired by the Zinox Group.
Speaking on its loss reduction measures, the Konga chief said, “We have consistently reduced our losses by nearly 70 percent. Added to this is the addition of new and thriving business units such as Konga Travel, among others, all of which have enjoyed huge growth and massive acceptance by our rapidly expanding customer base,” he said.
On its logistics, Mr Imudia said through K-Xpress, its in-house logistics company, it has boosted its capacity to handle deliveries to its customers, while also resolving logistics issues for external customers.
He assured that with other services like its warehousing service, the company was able to meet demands through its large inventories without time constraints.
Projecting into the future, Mr Imudia said that the company was expanding its frontiers with additional business units that will be rolled out soon.
“These additions will excite our customers and expand the Konga retail revolution to new verticals. To make the shopping experience a memorable one for our customers, we have also lined up various value-adding services and promotions throughout the year.
“These assets and many others too numerous to mention will shape the Nigerian e-commerce sector in 2020 and the succeeding years,” he said.
By Modupe Gbadeyanka
To make finding the right service provider or reaching the right customer seamless, popular local information portal, Connect Nigeria, has introduced a Quote Request platform.
Connect Nigeria described the new system as “a digital solution designed to make connecting with service providers faster, easier, and more reliable.”
It said the Quote Request was built for consumers who need services quickly and want trusted options without the stress of searching endlessly; and service providers and businesses looking for real, high-intent customers without spending heavily on marketing.
“Whether you need a caterer for an event, a plumber for your home, or a designer for your brand, the platform is designed to connect you with the right people,” Connect Nigeria added.
“By connecting demand directly with supply, the platform creates a more structured and dependable marketplace,” it further stated.
At its core, the Quote Request simplifies the entire process of finding and offering services.
To use the service, users have to submit a request describing the service or product needed, which is then sent to verified vendors on the platform. Interested providers respond within 1–2 days, and users compare offers and choose what works best for their needs and budget.
“Instead of searching for vendors, the vendors come to you, with relevant, tailored responses,” Connect Nigeria explained.
The company expects this new platform to eliminate the stress of endless online searches, delayed or vague responses, and uncertainty about service quality.
As for businesses, it solves poor visibility, inconsistent customer flow, and lost opportunities due to slow response times.
Connect Nigeria Quote Request mobile app is now available on the Google Play Store and Apple App Store.
By Aduragbemi Omiyale
An institutional investor, First Ally Capital, has strengthened a leading Nigerian financial technology company, Mathesis Analytics, to scale its proprietary credit decisioning infrastructure.
It made this possible by injecting fresh capital into the firm, which specialises in AI-powered credit decisioning infrastructure, an action that will directly support the growth and scaling of Mathesis’ core mission of providing the intelligence and infrastructure needed to bridge the credit gap for millions of unscored or underscored individuals across Nigeria.
With this investment, Mathesis will enable financial institutions to confidently assess and extend credit to borrowers who lack a formal credit history by leveraging an expanded pool of alternative behavioural and transactional data.
To date, Mathesis’ systems have supported more than 8 million loans for over 2 million unique borrowers in Nigeria, and the company is actively deploying its infrastructure to establish a growing pan-African footprint.
With the investment from First Ally Capital, Mathesis is well positioned to transform how the credit ecosystem operates, driving financial inclusion in partnership with lenders across the continent.
A significant barrier to credit access in Nigeria, which prides itself on being Africa’s largest economy, is data fragmentation. Borrowers frequently build positive financial behaviours across multiple digital platforms by repaying microfinance loans, saving through fintech wallets, or servicing Buy Now, Pay Later (BNPL) facilities.
However, under traditional credit infrastructure, these achievements remain invisible to new lenders.
Mathesis addresses this challenge through the concept of Personal Equity—the quantified expression of an individual’s financial behaviour aggregated across every institution with which they have transacted.
By translating these disparate signals into a precise, portable measure of creditworthiness, Mathesis creates a comprehensive credit identity that reflects the full breadth of a person’s financial life.
“True financial inclusion cannot be achieved in a vacuum; it requires structural collaboration in which lenders and fintech companies work as partners within the ecosystem.
“This investment from First Ally Capital validates our approach to reshaping credit infrastructure. By quantifying Personal Equity, we empower lenders to safely look beyond the constraints of formal credit histories and recognise a borrower’s true creditworthiness. This capital enables us to accelerate our pan-African expansion while maintaining the robust, institutional-grade infrastructure our partners rely on,” the chief executive of Mathesis Analytics, Winston Osuchukwu, stated.
On his part, the chief executive of First Ally Capital, Mr Ebenezer Olufowose, said, “At First Ally Capital, we pride ourselves on being a one-stop destination for financial solutions, offering a diverse portfolio of services ranging from investment banking and asset management to trusteeship, inclusive banking, and real estate.
“Our investment in Mathesis Analytics reflects our strong belief in the company’s vision and our commitment to supporting forward-thinking enterprises that deliver excellence.”
By Aduragbemi Omiyale
The chief executive of Canal+ Africa, Mr David Mignot, has disclosed that MultiChoice is now fully integrated into the media group.
Mr Mignot disclosed this via a statement issued on Thursday, noting that this development marks a new phase in the evolution of one of Africa’s leading pay television operators.
He noted that the integration positions MultiChoice within a global media organisation with an extensive international footprint.
“MultiChoice is now a full subsidiary of a truly international media group operating in 70 countries. The group was founded in France, is listed in London and Johannesburg, and has a strong African presence with operations in more than 45 countries,” Mr Mignot said.
The statement underscores the scale of the combined business, highlighting Canal+’s global reach alongside its significant investments across Africa.
The completion of the transaction is expected to strengthen MultiChoice’s position in the African media and entertainment market by giving it access to the broader resources, expertise and international capabilities of the Canal+ Group, while reinforcing the group’s commitment to the continent.
MultiChoice operates across sub-Saharan Africa through platforms including DStv and GOtv, serving millions of subscribers with entertainment, sports and news content.
