Nigerian E-commerce giant, Konga, sets out on an audacious journey towards making a daily turnover of $10million in 2024
This daring projection was made public by CEO Nick Imudia, considering the company’s present stand, this projection looks very much like a pipe dream. The e-commerce business has had its years of recording losses and struggling to stay afloat in the unstable yet promising Nigerian market.
In spite of all the daunting challenges, CEO Nick Imudia has chosen to hold on to an entirely different narrative. In an interview with Imudia, he 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 $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.”
Ha went further to add that “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 band 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%. In addition to this is the 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.”
Konga has always touted the idea of adding new verticals and extending its business suits. Fortunately, the brand’s travel line, Konga Travel has met with much acceptance from Nigerians. According to the company, the growth of this vertical has been very impressive.
Konga has also included payment solutions “Konga Pay” to its service suite. Allowing customers to make easy payments on Konga, top op their mobile phones and make other forms of payments.
Imudia, hinting on more releases in no distant time, said, ‘’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.” He added.
We hope to see the tech giant spin out some creative ideas as every move from hereon will be critical to the achievement of their goals and consequently the growth of the e-commerce sector in Nigeria.