The Zinox Group, an integrated ICT solutions and Original Equipment Manufacturer, has acquired Konga after several months of negotiations with major investors, Naspers and AB Kinnevik.
As part of the acquisition, Zinox Group would 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 and world class logistics company.
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 of BuyRight Africa.com, which was challenged by the absence of credit card and e-payment infrastructure when it was launched over 12 years ago.
According to the group, the acquisition has passed all regulatory approvals by the Securities and Exchange Commission.
