Konga CEO Eyes $10m Daily Turnover By 2024
PELUMI OLALEYE
Konga said that its business would hit the $10 million daily turnover by 2024 with the support of its investors.
According to realize the target, Konga hinted that the growth trajectory and overall operational efficiency backed by the consistent losses it has witnessed are critical factors in the projections.
This was disclosed by the Konga Co-CEO (Online), Nick Imudia.Imudia noted that e-commerce was the riskiest business anyone can attempt in the 21st Century. However, he stated that Konga was putting necessary machinery in place to achieve the goal. Konga , he said, would work assiduously to reach a target of $5 million daily turnover by 2022 as preparation towards realizing the $10 million set target by the end of 2024.
‘‘It is an extremely ambitious target. But we must deliver as we do not really have a choice,’’ he told a team of journalists.Since its entry into the Nigerian e-commerce market as one of the foremost pioneers in the sector, Konga has stood out; with its several revolutionary strides first launching what is known as market place and then composite e-commerce in Africa, ultimately catapulting it to pole position. Today, Konga unarguably occupies leadership of the Nigerian e-commerce sector, being largely responsible for restoring investor and customer confidence after a testy 2019 marred by allegations of fraud that trailed the activities of another major player.Imudia said: “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. 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. Secondly, 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 added further that it would not relent on its determination to continually meet and exceed the aspirations of Konga’s numerous customers, irrespective of their social class and location.We shall continuously grow investor confidence in Nigeria’s e-commerce sector and help everyone to see the brighter side of e-commerce business in Nigeria, even as we consistently explore ways of upgrading our processes and raising the standard of service delivery and customer satisfaction in the sector.
‘‘We will be rolling out additional new business units in the weeks and months ahead. 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”.
