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E-commerce group, Konga who has a reputation in the tech said it rejected $300 million offered to it by a consortium of global investors last year. This amount is just a little less than half its own investment of $120m investment in its Nigerian operations since its December 2018 acquisition by Zinox Group.
The rejection according to Co-Chief Executive Officer, Konga Group, Prince Nnamdi Ekeh who talked to Channels TV is to maintain genuineness and professionalism.
“Although we have received several offers from interested investors, we are content with the group that is currently funding Konga. The group is highly ethical and want us to maintain the highest level of integrity”.
Konga records a loss of about N100m monthly and isn’t desperate enough to trample the trust on its current investors. According to Eke, they have all they need for expansion and take over of the e-commerce space in other African countries. He also clarified that this monthly loss isn’t anything close to the N400 million recorded at the start of the business.
Konga announced its intention to go public on the Nigerian Stock exchange. But it also said it is considering listing on foreign IPOs, either the New York Stock Exchange and the London Stock Exchange.
Ekeh further discusses future plans which would see the company roll out a number of cutting-edge services. He also said the 21st-century influences Konga’s strategies and perception as they try to take into consideration the deficiencies in the country.
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