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Konga Will Break e-Commerce Biggest Day Sales Record Soon – Chris Uwaje

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Chris Uwaje, Africa chair for World Forum on Internet of Things (IoTs
Chris Uwaje
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Dr. Chris Uwaje, Africa chair for IEEE-World Forum on Internet of Things (IoTs), has boldly declared that foremost e-Commerce giant, Konga will beat the record for the biggest single day sales in the near future.

 

Uwaje, popularly addressed as the Oracle of the Nigerian Information Technology industry, made this disclosure during an interaction with the media recently.

 

The co-founder and former President of the Institute of Software Practitioners of Nigeria (ISPON) was reacting to the figure of $38bn set by Chinese e-commerce giant, Alibaba for its 2019 Singles’ Day sales.

 

‘One day – very soon -, Konga will smash the e-commerce biggest day-sale record. If you follow the strides recorded by Konga within the past 18 months, you will agree with me that it’s only a matter of time before Alibaba’s Singles Day sales record is within reach,’ he enthused.

 

Equally important, Singles’ Day has grown steadily to become a global sales phenomenon.

 

Launched in 2009, Singles’ Day has become China’s version of U.S. online sale event Cyber Monday; which follows America’s Thanksgiving holiday. Furthermore, analysts monitor sales on Singles’ Day to gauge consumer sentiment in China. This year’s sale was closely followed across the world.

 

The Chinese shopping festival is held on Nov. 11 and is also referred to as Double Eleven because of the date – incidentally the same day on which Konga flagged off its annual Black Friday sales known as Konga Yakata.

 

Furthermore, Uwaje, a fellow of the Nigeria Computer Society (NCS), has credited the management of Konga for creating a thriving brand which all Nigerians should be proud of.

 

‘The management of the new Konga has created a massive brand out of Africa. Today, Konga Yakata, its version of the globally celebrated Black Friday sales, has become undoubtedly the sales event in the annual shopping calendar in Nigeria.

 

‘Also, Konga boasts arguably the best brains in technology in Nigeria, even more than any bank in the country. This is due to its cutting-edge team of engineering talent at its disposal.

 

‘The touching aspect of the Konga miracle is the fact that, if not for the intervention of the Zinox Group which stepped in to acquire the business from its erstwhile owners, Nigeria would have suffered huge brain drain. Although Naspers admittedly made the initial investment in Nigeria, Nigerians are now the beneficiaries of the massive revolution taking place in Konga.

 

‘Indeed, the Zinox Group’s intervention has not only saved Nigerian a massive loss of some of its best brains, but it has also created confidence in the company, although it spent millions of dollars in the acquisition and offset the debts. Today, Zinox has turned around the business and raised the Konga brand equity over 800% since the acquisition,’ Uwaje intoned.

 

Continuing, the IT veteran noted that the Konga business model and strategy have set it on the path of greatness.

 

‘It is not just about acquiring a business but what do you do with it? Presently, the Konga strategy is one that has made it too large to fail. The rollout of multiple warehousing facilities, expansion of its retail presence and launch of new, thriving subsidiaries such as Konga Travels which has grown over 200%, acquired all major airline certifications and opened up multiple new offices within a short space of time is proof of the experience and know-how the new owners have brought to bear on the business.

 

‘What is critical is that the new owners of Konga understand the country, Certainly, doing business in Nigeria comes with a lot of challenges. But Konga has deployed multiple warehouses nationwide as part of its efforts at resolving some of the logistical challenges faced by players in the sector – a factor that has helped it achieve same day delivery which I have personally experienced even while in Delta State.

 

‘This shows that Nigerians have the capacity to do great things. However, we seem to give more credence to foreigners who are taking over the country. But no one is complaining. The question is, where will Nigerians work tomorrow? The man who opens a company decides who to employ and there is no bridge on the character of people that are brought into the country,’ he concluded.

 

Uwaje, a doyen of technology, commands a senior leadership position in the IT professional and industry domain with over four decades of on-the-job IT Practice as Computer Scientist across four continents, namely Europe, Africa, Asia and North America.

 

 

 

 

 

 

 

 


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

E-Business

Schmidt, Ex Google Chief Says AI Risky in Terrorist Hands

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Eric Schmidt, former Google CEO
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Eric Schmidt, former Google CEO has expressed concerns about the extreme risks posed by artificial intelligence (AI) falling into the hands of terrorists or rogue states.

Schmidt, Ex Google Chief Says AI Risky in Terrorist Hands

Eric Schmidt, former Google CEO

He warned that nations such as North Korea, Iran, and Russia could adopt AI technologies to develop weapons capable of causing significant harm, including biological weapons.

Schmidt urged governments to oversee private tech companies, emphasising, “The real fears I have are not the ones most people discuss about AI, I talk about extreme risk.”

“I’m always worried about an ‘Osama Bin Laden’ scenario, where truly evil individuals take control of some aspect of modern life to harm innocent people,” he added.

With private companies driving AI advancements, he stressed the need for careful government monitoring and regulation. “It’s really important that governments understand what we’re doing and keep their eye on us,” he said.

His remarks followed a two-day AI summit in Paris, where the UK and the U.S. declined to sign a communiqué outlining the future direction of AI. The declaration on “inclusive and sustainable artificial intelligence for people and the planet” was endorsed by 57 countries, including India, China, the Vatican, the EU, and the African Union Commission.

The UK justified its decision, stating that the agreement lacked “practical clarity” on global AI governance and national security concerns.

Schmidt supports U.S. export controls restricting the sale of advanced AI microchips to certain countries, aiming to slow adversaries’ progress in AI research.

He also highlights the importance of international collaboration on AI safety, suggesting that cooperation with nations like China is essential to addressing global AI challenges.

 

 


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OpenAI CEO Rejects $97.4Bn Takeover Bid from Elon Musk

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Sam Altman, chief executive of ChatGPT-owner OpenAI
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Sam Altman, chief executive of ChatGPT-owner OpenAI, has firmly declared the company “not for sale” following a $97.4bn (£78.4bn) takeover bid from a consortium led by Elon Musk.

OpenAI CEO Rejects $97.4Bn Takeover Bid from Elon Musk

Elon Musk

Speaking at the AI Action Summit in Paris, Altman emphasised OpenAI’s mission to develop AGI (artificial general intelligence) for the benefit of humanity.

Marc Toberoff, attorney for Elon Musk, confirmed the bid submission on Monday.

In response, Altman humorously offered to buy Twitter for $9.74 billion on Musk’s platform.

Unlike many tech giants, OpenAI is not publicly traded but operates through a complex partnership between non-profit and for-profit entities.

Musk aims to return OpenAI to its non-profit roots, despite owning a rival firm, xAI.

Christie Pitts, a tech investor, expressed scepticism about Musk’s intentions, noting his competitive interests.

Altman echoed this sentiment, suggesting Musk’s move disregards OpenAI’s mission.

Altman, who holds no stock in OpenAI, advocates transforming the organisation into a fully for-profit company to raise more funds for AI research.

Although the board has the final say, the $97.4bn offer falls short of OpenAI’s previous $157bn valuation and rumoured $300bn in future funding talks.

Toberoff stated the consortium might increase their bid. Meanwhile, OpenAI is collaborating with Oracle, a Japanese investment firm, and an Emirati sovereign wealth fund on “The Stargate Project,” a $500 billion AI infrastructure initiative announced by President Donald Trump.

 

 

 

 


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Adobe Launches AI Video Tool to Compete with OpenAI

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Adobe yesterday released the first public version of an artificial intelligence tool that can generate video clips and revealed how much it will charge, but said it will not set pricing for major users such as studios until later this year.

The Firefly Video Model, as Adobe is calling the service, will compete against Sora, a model developed by ChatGPT creator OpenAI, and startup Runway, both of which currently offer video-generation services. Facebook owner Meta Platforms has also developed a video-generation AI model but has not given a timeline for when it will be released.

Adobe’s model differs from its rivals because it is geared toward generating clips that will fit into how film and television studios use Premiere Pro, its flagship video editing software.

To that end, many of the features that Adobe is emphasizing revolve around feeding existing shots into the video model and asking it to generate clips that fix or expand on shots that were taken on a real production set but that did not come out quite right.

Adobe said the service will generate five-second clips at 1080p resolution. While that is shorter than the clips of up to 20 seconds generated by OpenAI’s service, Adobe executives said the majority of individual clips in most productions are only three seconds.

Adobe said a user can generate 20 clips per month for $9.99 and 70 clips for $29.99. That compares with 50 videos for $20 per month with OpenAI’s plan at lower resolution and a $200 OpenAI plan that can handle longer, higher resolution videos.

Adobe is also working on a “Premium” pricing plan for studios and other high-volume video users and will release those pricing details later this year. Alexandru Costin, Adobe’s vice president of generative AI, said the company is working to generate 4K video and will remain focused on quality rather than longer clips.

“We actually think that great motion, great structure, great definition scheme, making the actual clip look like it was film, is more important than making a longer clip that’s unusable,” Costin told Reuters.

 


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