Broadcasting
Forbes Hails Konga as Beautiful Bride of African e-commerce
Konga, Nigeria’s leading omnichannel e-commerce group has been identified as a strong player on the verge of dominating the African e-commerce scene.
Forbes, a globally renowned media company, focusing on business, investing, technology, entrepreneurship, leadership, and lifestyle, revealed this in a special feature published in its Forbes Africa edition late last week.
In addition to hailing the remarkable growth trajectory that has seen Konga become the first African e-commerce player to hit profitability, Forbes equally referenced the various thriving subsidiaries that have transformed the Konga Group into a formidable, flourishing e-commerce ecosystem, while also highlighting the pivotal role of KongaPay, a Central Bank of Nigeria (CBN)-licensed fintech platform as a leader in the Nigerian e-wallet space.
Following its 2018 acquisition by the Zinox Group and the tremendous growth it has recorded, Konga, Forbes noted, would potentially attract over a $2bn valuation when it eventually decides to go public, as widely envisaged.
‘‘While the brand eyes its listing on the stock market to fulfil its potential in the marketplace, there are reports that it boasts over $2 billion valuation, thanks to its new acquisition by Zinox.
‘‘Konga has continued to show promise in the online marketplace. After its acquisition, a review of the company’s performance shows the brand experienced over 800% growth.
“This surpasses expectations in e-commerce sectors across the continent. The new phase of Konga, driven by young, ambitious and innovative individuals, has seen it rake over $3oom in investments, according to reports.’
‘‘Efficient management of these investments has driven the brand to succeed in the e-commerce space, placing the brand on a profitable footing. The transformation has seen the brand recording significant progress in its online and offline transactions.
“Data shows that Konga fulfilled to the last mile 85% of all orders placed on its online and offline platform. The brand has also navigated and found a lasting solution to issues with logistics, one of the great hindering factors with e-commerce in Africa,’’ the article read in part.
In a chat with Co-CEO, Konga Group, Prince Nnamdi Ekeh who is rounding off his MBA studies at Oxford, Forbes also beamed its focus on the future of e-commerce in Africa, with Prince Ekeh who heaped praises on his Co-CEO, Nick Imudia and the entire Management and staff of the Konga Group for their resilience and dedication, revealing that the future remains bright.
‘‘E-commerce in Africa is set to take off to unprecedented heights in the next decade and players who are well positioned will reap the fruits. Like I mentioned before, we have already seen triple-digit annual growth numbers and yet there is still so much market share left to capture as we transition people into the e-commerce era.
‘‘I also believe blockchain and decentralized finance will play a great role in improving financial inclusion
in the continent which will give people more access to digital services like e-commerce. As economists, we were trained to look at indicators and so far, most critical indicators trend positively: Population, youth
population, mobile penetration growth rates, connectivity growth rates. If these indicators continue to improve, I have no doubt that Africa will house one of the biggest e-commerce players in the world, and my job is to make that Konga,’’ Prince Ekeh disclosed.
Broadcasting
51-Year-Old QNET User Breaks World Record with 20 Back Handsprings
QNET, a global wellness and lifestyle company, proudly celebrates the remarkable achievement of Anup Debnath, a 51-year-old fitness enthusiast, ardent user of QNET products, and resident of New Jersey, USA, who recently attempted to set a Guinness World Record as the oldest person to perform continuous back handsprings.
Debnath’s feat underscores the power of balanced health and wellness to maintain peak physical performance at any stage of life.
On October 19th, at the Marlboro Township Recreation Center, Debnath completed 20 continuous back handsprings, a remarkable testament to his strength, stamina, and unwavering discipline.
His journey back into gymnastics after nearly 27 years highlights the potential of a balanced lifestyle supported by QNET’s wellness products, demonstrating that age is no barrier to achieving extraordinary physical goals.
“To accomplish something like this at my age takes intense dedication, a consistent fitness regimen, and harmony of mind, body, and spirit,” Debnath shared.
“For the past two years, I’ve relied on the Amezcua Chi Pendant 4 with Amezcua Resonance Technology (ART) to keep me centered and energized.
Paired with other Amezcua products, like the Bio Disc 3, which energizes my food and structures the water I consume, giving me mental and physical balance, and the Bio Light 3, which aids in recovery by alleviating pain and discomfort after intense training, these products enhance my overall well-being and empower me to push my limits.”
QNET’s Chief Marketing Officer, Trevor Kuna, extended his heartfelt congratulations: “Anup’s achievement is extraordinary, and we are incredibly proud to have played a part in his journey.
“His belief in QNET’s Amezcua products reflects our mission—helping people achieve balance and wellness in every aspect of their lives.
“Anup’s story is a testament to discipline, resilience, and holistic well-being. We celebrate his inspiring feat and his commitment to greatness.”
QNET’s Amezcua Chi Pendant 4, which utilizes ART, is designed to support wearers in achieving holistic well-being by harmonizing physical, emotional, and mental energies.
Through Debnath’s achievement, QNET encourages individuals to explore how Amezcua technology can support their wellness journey at any stage in life, empowering them to achieve their own physical and mental potential.
Broadcasting
House of Reps Calls for N500bn Recapitalization of DisCos
House of Representatives has called on the Federal Government to enforce a minimum capital base of N500 billion for electricity distribution companies (DisCos) to continue operations.
The lawmakers argue that only financially robust DisCos can ensure efficient service delivery and maximum consumer satisfaction.
This resolution was passed during Wednesday’s plenary following a motion by Ibrahim Isiaka, a representative from Ogun State.
Isiaka criticized the current operations of DisCos, describing their actions as a threat to the economic stability and welfare of Nigerians.
He highlighted consumer complaints regarding the replacement of electricity meters, noting that DisCos often demand additional payments despite consumers already financing the installation of meters.
Isiaka expressed concern over the financial burden this places on households and businesses struggling with economic challenges.
The motion also raised issues of consumer trust, alleging that DisCos operate with impunity and disregard for consumer rights, despite oversight from the regulatory authorities and the House Committee on Power.
The lawmakers unanimously adopted the motion through a voice vote conducted by Speaker Tajudeen Abbas.
They urged the Ministry of Power to take immediate steps to address the “reckless actions” of DisCos, labeling them as non-state actors threatening Nigeria’s economy.
The House further mandated the recapitalization of DisCos to a minimum of N500 billion, insisting that only financially capable operators should be allowed to continue providing electricity services.
Additionally, the House Committee on Power was directed to investigate the activities of DisCos to ensure accountability and protect consumer rights.
Broadcasting
Chinenye Anuforo of The Sun Newspaper Honored for Excellence in ICT Journalism
Chinenye Anuforo, a distinguished journalist from The Sun Newspaper, has been recognized for her exceptional contributions to ICT journalism in Nigeria.
Last week, she received the ICT Innovation Storyteller Award at the Africa Tech Alliance Excellence (ATAEx) Awards, celebrating her ability to craft compelling narratives that highlight the complexities and potential of the ICT sector.
“Chinenye’s dedication to her craft is evident in her insightful analysis and engaging storytelling,” said Mr. Chike Onwuegbuchi, co-convener of the ATAEx Awards.
“Her work has consistently illuminated the significant impact of technology on society, making her a deserving recipient of this award.”
The accolades continued as Anuforo was named the ICT Reporter of the Year at the Africa Digital Awards (ADA) just a week later.
This prestigious award further cements her status as a leading voice in the ICT industry.
Mr. Tayo Adewusi, Publisher/Coordinator of NIICF & ADA, who presented the award, praised Anuforo’s role in shaping public discourse on ICT issues.
“Her reports have not only informed but also inspired, making her a true champion of digital innovation,” he said.
Expressing her gratitude, Chinenye Anuforo stated, “I am deeply honored and humbled to receive these awards.
“I am grateful to my editors at The Sun Newspapers for their unwavering support and to the organizers of the ATAEx Awards and Africa Digital Awards for recognizing my work.
“It is a privilege to contribute to the growth of the ICT sector in Nigeria through journalism.”
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