E-Business
Konga, Yudala Merge to Disrupt Ecommerce
Konga, Nigeria’s largest online mall and Yudala, Africa’s pioneer composite e-commerce company have officially announced a merger of their operations which will see them effectively become the biggest organized retail and e-commerce/marketplace outfit on the African continent.
The business merger, which takes effect from Tuesday May 1, will see both companies operate under the Konga brand name.
The strategic decision will see both companies leverage the combined strengths of both platforms and is expected to further broaden the scope of organized retail and e-commerce in Nigeria and deliver more value to customers and merchants.
“Combining forces to power the new Konga will enable us effectively achieve our goals of platform expansion and accelerated growth, as we embark on an ambitious journey to redefine the retail ecosystem with the industry’s most advanced technology,” disclosed Olusiji Ijogun, Konga chairman.
“Effective from May 1st, Yudala will now operate under the name Konga, with dual CEOs in the persons of Nick Imudia who will be in charge of online among others and Prince Nnamdi Ekeh who will be responsible for offline. This merger will further strengthen our position in the Nigerian retail market as we creatively position Konga as the first profitable e-commerce company in Africa.
“The efficiency of Konga’s cutting-edge online platform, access to thousands of merchants and Yudala’s expansive network of fully stocked offline stores is poised to give our customers the best shopping experience imaginable. We will be working closely with all our combined clients, customers, merchants and employees to make the integration process as seamless as possible and thereafter make public our road map to sustain our leadership on the continent,” Ijogun said.
One of the exciting benefits of this merger is the possibility it offers prospective shoppers to order online, pay and pick-up the product(s) at the nearest Konga offline store. There are also increasing business opportunities for merchants nationwide.
“We are very excited about the operational merger between Yudala and Konga into the new Konga,” noted Prince Ekeh.
“A merger of this magnitude has never been experienced in Africa. We will be leveraging on Konga’s strong technology backbone and online experience as well as Yudala’s offline experience, network of retail stores and operational efficiency. In the near future, we plan to have a Konga store in every local government area in Nigeria. While this is ambitious, we believe that every Nigerian deserves the right to have access to the full range of genuine products offered by Konga,” Prince Ekeh declared.
Plans are also underway to showcase the full power of the merger with expanded access to thousands of products in Konga online and offline stores for all categories of shoppers.
According to Imudia, “We believe this operational merger between Konga and Yudala will bring immense opportunities for consumers in the e-commerce space. We urge all shoppers, consumers, merchants and clients to stay tuned as we unveil the massive ambitious contents we have to offer.”
Widely applauded by industry watchers as a masterstroke, the merger will broaden the range of products and solutions on offer within the Konga/Yudala stable, while giving the customers and merchants more options and access to an expanded variety of guaranteed quality offerings and payment methods.
The Konga Business platform will now include two distinct but fully integrated aspects including Konga Online, the e-commerce/marketplace platform and Konga Retail, the offline arm of the business.
Both will be supported by Konga Pay, a CBN-licensed mobile money platform and Konga Express, a world-class logistics company with advanced delivery capabilities for internal and external customers.
Nigeria Data Protection Commission (NDPC) has signed a Memorandum of Understanding with Mastercard to enhance data protection in Nigeria.
Dr. Vincent Olatunji, commissioner, NDPC and Derek Ho,deputy chief privacy officer, Mastercard
The agreement was sealed during a workshop where 150 Data Protection Officers (DPOs) were trained on Data Protection Impact Assessments (DPIAs).
Dr. Vincent Olatunji, commissioner, NDPC, said the event kicks off activities for the 8th NADPA conference, highlighting government efforts to train more certified DPOs.
Olatunji also disclosed the Federal Government’s commitment to increasing the number of certified DPOs with the required skills to manage data protection.
He noted that Nigeria’s digital-savvy youth are key to driving this agenda.
“Human capital is really key to us, and the ecosystem we are regulating is very special. It is still new, still emerging, and we need all we can to build the capacity of officers.
“We want to build the capacity of our people so we can be able to deliver on our mandate and fully deepen privacy in Nigeria.
“We are targeting to build the capacity of 250,000 DPOs annually, and we are working with partners like Mastercard to achieve that,” he said.
Derek Ho,deputy chief privacy officer, Mastercard, also stressed the need for collaboration to build trust in the digital economy and urged participants to embrace training as data protection keeps evolving.
Central Securities Clearing System PLC (CSCS) has announced the launch of *7270#, its Unstructured Supplementary Service Data (USSD) code service, set to go live on May 8th, 2025.
The USSD code service is an innovative solution designed to enhance the ease and accessibility of investment services for all users.
Also, this service leverages the network capabilities of MTN Nigeria to bring unparalleled convenience to investors.
Driven by a relentless commitment to innovation, CSCS aims to revolutionize information access within the Nigerian capital market through this USSD code service.
As the Central Securities Depository (CSD), CSCS focuses on enhancing investor experiences and providing deeper market insights with unparalleled convenience.
The CSCS USSD code service offers seamless access to essential market information directly from mobile phones, eliminating the need for internet connectivity or specialized trading platforms.
Investors can now effortlessly retrieve Clearing House Number (CHN), check Direct Cash Settlement (DCS) status, view stock positions, account balances, and account status confirmations.
Haruna Jalo-Waziri, managing director/chief executive officer of CSCS, said ” We are excited to launch the *7270# USSD code service, a significant step in leveraging mobile technology to democratize access to account and portfolio information.
“This service empowers every investor, regardless of their location or resources, to stay informed about their investments. At CSCS, we believe that financial inclusivity is key to driving economic growth.
“Our partnership with MTN Nigeria on this project represents a significant leap toward a more inclusive financial landscape, leveraging the spread of the MTN network.
“This collaboration enhances the investing experience, reinforcing our shared commitment to empowering individuals with the tools they need to manage their financial futures effectively.” he added.
The CSCS USSD code service will initially be available to MTN users only. However, CSCS plans to expand this service to other networks soon.
This innovative service offers investors streamlined and secure access to critical market information at their fingertips.
Aisha Umar Mumuni, chief digital officer of MTN Nigeria, said, “This collaboration with CSCS on the *7270# USSD service underscores MTN’s commitment to harnessing the power of mobile technology to simplify complex processes for our users.
“By making critical investment information available at the touch of a button, we are helping to democratize access to the capital markets and, in the process, enhance investor engagement and market transparency,” she said.
CSCS continues to lead the way in technological advancements, reinforcing its position as a pivotal player in the Nigerian capital market ecosystem.
This initiative underscores our dedication to enhancing market efficiency and empowering investors with the tools they need for informed decision-making.
The need to maximise local digital assets, amid dwindling Oil revenues and a struggling economy, has been reiterated by the Chief Executive Officer of Quomodo Systems Africa, Oluwole Asalu, who maintained this measure remains the path to prosperity.
Asalu, while addressing the press in Lagos, recently asserted that global shift towards digital economies, presents a pivotal opportunity for Nigeria at this time to mobilise sufficient resources towards effective governance.
He emphasised harnessing the burgeoning local digital economy to expedite national diversification goals, while break away from overdependence on oil output.
Asalu, boasted further that Nigeria’s tech-savvy, youthful population and increasing recognition from global tech giants already position its digital sector as a driver of inclusive growth and job creation.
“Nigeria’s overreliance on oil is no longer tenable. As global markets shift towards renewable energy, the urgency to diversify has never been greater. Technology stands out as the most promising avenue, not merely as a sector, but as an enabler of growth across all facets of the economy,” he explained.
According to him, Nigeria’s tech talent remains the new oil, a renewable resource with the potential for significant returns, if strategically harnessed.
Like India’s successes in information technology services, Asalu want Nigeria to tap into lucrative outsourcing industry to draw foreign investment.
“Foreign investment in Nigeria’s tech sector is rising. Programmes like Digital Explorers have led European firms such as Telesoft to establish operations in Nigeria. Tech giants like Microsoft and Facebook have followed suit, injecting capital and creating jobs,” he stated.
He again pointed to the emergence of three unicorns within Nigeria’s tech ecosystem as a breakthrough and sign of maturity.
“Nigeria’s tech ecosystem is already showing signs of maturity, with three unicorns emerging from its soil. These success stories, powered by local innovation, underscore the viability of a home-grown, world-class tech sector,” he affirmed.
He however emphasized urgent need to close existing gap in skills and infrastructure, in addition to embracing governance and collaboration to fully harness digital potential cum future.
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