There are multiple ways of making money in this new business line, I will highlight a few: Subscription – You charge advertisers to become members of the site before they can publish ads. The acquisition of Konga by Zinox Group seems to be yielding positive results, as the e-commerce company announced that it has made a turnover growth of 800% since the acquisition which took place last year. “Island 1 zone recorded the highest land prices, which is expected to be repeated in 2021, followed by Mainland 3. READ: COVID-19 vaccine: Africa to get 50 million doses from Pfizer and BionTech. There are 2 companies in the KONGA corporate family. Konga.com is an electronic commerce company. Konga reportedly grew 2014 revenue 450% … READ: Buhari moves against DISCOs that collect money for prepaid meters, READ: Inflation rate, yet to factor in rise in higher electricity prices, READ: What to do if your DisCo has not complied with reversed electricity tariff this week. We are working very hard to meet investors’ expectations. KPMG Professional Services Nigeria is a member firm of KPMG International, a global network of professional services firms. Timed with the Dreamforce to You 2020 events, Conga’s virtual 5K will take place November 9-12. Already, thousands of eager shoppers expectedly kept vigil on the Konga website – to be the first to grab the special commencement deals.. In line with the resolution made by the FG and Labour union, the immediate relief would be provided to citizens for a 2 to 3-month period (which will not exceed December 31, 2020), as this timeline would be used to conclude an extended scope of work for the Technical Committee. “We have spent the last year restructuring the business and positioning it on a very solid footing. “Furthermore, approval has been given to rehabilitate five oxygen plants across various tertiary health institutions in Abuja. Sep 2011 – Oct 2014 3 years 2 months. The pressure created from this market imbalance inadvertently forced a drop in revenue and major eCommerce outfits began to lay off staff. READ: Short-stay apartments record boom, amid COVID-19 second wave fears. When I spoke to Conga at the time of its annual conference in early March — one of the last tech industry conferences to take place before the pandemic shutdown made such gatherings impractical — the company was saying that it had more than 11,000 customers and revenues at an annual runrate above $100 million. Arik Air resumes flight operations Oct. 24. You may need to download version 2.0 now from the Chrome Web Store. This reclassification amounted to €0.5 million in the fourth quarter 2018 and €1.5 million for the full year 2018. Revenue Reporting Konga Online Shopping Ltd. 2014 – Present 6 years. “The high rental costs of Grade A office buildings located in Banana Island, Ikoyi and Victoria Island have contributed to this. Cloudflare Ray ID: 60d521a4794a0838 Finally profitable. According to him, the international corporates in the financial, technology, and management consulting sectors, who account for up to 70% of prime office tenants in Lagos, are increasingly adopting remote work options, and this will impact the Lagos A-Grade office market during the next round of renewals. In the search for higher yields, Nigerians living abroad are taking out equity from their mortgages and then funnelling some of the proceeds into the country’s real estate market. Adedotun Bamigbola, Chairman, Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos chapter, told Nairametrics that though where to buy real estate largely depends on the status and purpose of the investors, some zones will yield more returns to the investors in 2021. Category. Konga Yakata 2020, the biggest annual sales event in Nigeria promoted by leading e-Commerce giant, Konga comes to an end this Saturday, December 12, 2020 with huge discounts still on offer. Investing in real estate now is the right investment move anybody can undertake, especially along the Ibeju Lekki axis.”. The spate of housing construction in several locations in Lagos is bringing hope of an imminent recovery in the sector in 2021. Hence, they shared hotspot locations with Nairametrics across the nation’s commercial capital. Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. Jumia's main competitors are DealDey, Takealot Online, and Konga. Although the details of Konga’s financial result were not made public, Co-Chief Executive Officer of the company, Prince Nnamdi Ekeh, said the company had recorded an impressive turnover since Zinox acquisition of Konga in February 2018. According to him, Lagos State is divided into 7 zones – Island 1 (Lagos Island, Old Ikoyi, S/West Ikoyi, Banana Island, Victoria Island); Island 2 (Lekki Phase 1, Ikate, Osapa, Agungi & Chevron); Island 3 (Ajah, Sangotedo, Awoyaya & Lakowe); Island 4 (Ogba, Ogudu, Magodo GRA 1 (Isheri) & Magodo GRA 2 (Shangisha); Mainland 1 (Surulere, Yaba, Ilupeju & Gbagada); Mainland 2 (Amuwo Odofin, Isolo, Festac, Apapa); and Mainland 3 (Ikeja GRA, Maryland, Ikeja & Alausa). “What is currently confronting us is a critical phase of infections globally. Mr. Mustapha said: “It is on record that cases were recorded from corps members from every state of the federation. Related Topics. Konga, one of the first e-commerce companies in Nigeria, came into the market in 2012 with $3.5 million in seed investment, according to its annual reports. KongaYakata 2020, the biggest annual sales event in Nigeria promoted by leading e-Commerce giant, Konga comes to an end this Saturday, December 12, 2020. Why Jumia's annual revenue is $149.6 Million. On vaccines, he stated that the PTF is working on accessing the vaccines and also making adequate plans for the proper deployment of the vaccines. The same also goes for office space rental values.”. Kong's annual revenues are $100-$500 million (see exact revenue data) and has 100-500 employees. Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). “Ikeja GRA and its surrounding areas like Maryland, Mende, Shonibare estate remains the most expensive locations on the mainland part of Lagos state. The President has also approved that at least one oxygen plant should be established in each state of the federation immediately,” he said. It is classified as operating in the Toy & Hobby Goods & Supplies Merchant Wholesalers industry. See more Conga data on Latka Riding on first mover advantage in Nigeria’s e-commerce space, with only one other competition – Jumia, Konga got a $17.5 million investment from Kinnevik for 46 percent equity while Naspers acquired 25.5 percent of Konga for $9.7 million. Jumia is an online marketplace that enables users to shop for clothes, electronic appliances, beauty products, and fashion accessories. • Mustapha further added that the private sector has been supporting the cause by providing essential materials. According to Martin Uche, a Real Estate Analyst, the remote work policies by some corporate bodies, especially the multinational firms, will affect the Lagos A-Grade office market – not now, but during the next round of renewals. The Jumia Financial report, which is the company’s first full-year financial report after debuting on the New York Stock Exchange (NYSE), showed that the annual number of active consumers on the platform rose by 54%; from 4 million recorded in 2018 to a record 6.1 million.. Please enable Cookies and reload the page. In Africa, Nigeria has joined South Africa in reporting the highest daily infection cases. READ: NERC Will Punish Any Disco That Rejects Electricity From TCN. Annual Report 2019. FCTA disburses N2.495bn to area councils, others in September. The virtual event – which will take place in lieu of Conga’s highly anticipated annual silent disco at Dreamforce – encourages people to take a break from work and get moving, while creating a reason to connect with others and donating to a good cause. Conga annual revenue was $50 m in Y 2017. View Company. The company also surpassed the milestone of over 1 billion visits during its Black Friday Campaign in 2019. “The PTF is progressing on the issue of accessing vaccines for Nigerians and that  additional information would  be provided to Nigerians on accelerated vaccines introduction and deployment plan. In 1990, Steve Ditko illustrated a back-up story in Web of Spider-Man Annual #6 called "Child Star". The curtain is set to come down on this year’s edition of the wildly popular month-long shopping fiesta which has seen Konga live up to billing, shattering all existing records for the annual sales extravaganza. De très nombreux exemples de phrases traduites contenant "total annual revenue" – Dictionnaire français-anglais et moteur de recherche de traductions françaises. € 2.000.000 Special Forces Equipment NATO Suppliers List NCAGE No. “There is also a rising rate of infections among healthcare workers and these calls for the escalation of surveillance. Increased digital reach Konga boost revenue 451% via SEO. “The lowest yield was seen in Ogudu – 3.10%, next being Magodo (Shangisha) – 3.19% and third being Magodo (Isheri) – 3.20%. Danbatta Visits Emir of Kano, Sues for Peace . The Nigerian economy slipped into recession in Q3 2020 as the impact of Covid-19 took its toll on several sectors including the real estate, which has been in a recession since the 3rd quarter of 2019, ballooning to 21.99% in the second quarter of 2020 before retreating to 13.4% in the third quarter. Juliet Anammah is the CEO of Jumia. Black Friday Promotion. READ: PTF on Covid-19 certifies NYSC orientation camps ready to open on November 10, “​As at date, the statistics for Nigeria shows the following: Cumulative cases: 91,351; Cumulative Tests: 958,911; Deaths: 1,318 and Week 53 recorded 57 deaths which is the highest for any single week since we started.”. • CKH . As of August 2019. The series ran from 1962-1964. Your IP: 104.199.55.232 Debo Adejana, another realtor, advised that this is the time to invest in real estate with the number of growth poles in the Ibeju Lekki axis of Lagos. Ekeh also disclosed that the company recorded cost reduction within eighteen months after the acquisition, adding that Konga is self-sufficient, “We have reduced cost by over 45% and also achieved growth of over 800% in the past 18 months. Indeed, we are preparing to lead in this space.”, [READ ALSO: What Is A Stock Split and How It Affects You]. READ: Covid-19: FG publishes list of suspended passports for refusing post-arrival Covid-19 test. However, the growth, although significant, was below the projected 2.3%, majorly due to variations in prices of crude oil and its output. Konga, which has Naspers as an investor could make a formidable competitor for Rocket Internet across the continent once it begins its expansion plan. Hence, in this regard, the Government needs to be strategic and gradual while implementing the transition framework to the new pricing regime. In separate interviews, they explained that discerning investors should buy real estates around Lekki axis, Banana Island, Ikoyi, Surulere, Ikeja GRA, Magodo, Gbagada areas of Lagos and border towns like Arepo, Magboro, Sango-Ota in Ogun State, amongst others. The acquisition of Konga by Zinox Group seems to be yielding positive results, as the e-commerce company announced that it has made a turnover growth of 800% since the acquisition which took place last year. Soon enough, anxiety increased over the future of eCommerce. Jumia's IPO generated $196M. “We are ambitiously scaling Konga, and that is why we launched a successful Konga Travels and Tours that is currently making huge waves in the travel booking industry. Archive. … upon completion, will further trigger the rise in property values in the zones. “We are pleased to inform you that the private sector – CACOVID has commenced supporting our response with 100 oxygen cylinders per day,  till the end of March 2021, for distribution to critical care centres in Abuja. Annual Reports; Departmental Interpretation and Practice Notes; Board of Review Decisions; Ordinances Administered; Prosecution Cases; Press Release; Stamp Duty statistics; Access to Information; Policies. Konga Raises Curtains On Biggest Sale Of The Year – www.brandspurng.com. Reacting to the recent statement by the management of the Nigerian Electricity Regulatory Commission (NERC) that there was no 50 per cent increase in electricity tariff as widely reported in some media, Dr Yusuf emphasized that the government should ensure there is a smooth transitioning to the new pricing regime, in order to minimise shocks and risk of pushback from the consumers. However, we have 36 months of cash reserve to build Konga as a success. Annual net revenue of Jumia Technologies AG 2017-2019 Profit from additional features with an Employee Account Please create an employee account to be able to mark statistics as favorites. Konga's CEO is Nick Imudia; How much revenue does Konga generate? If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices. N igeria’s GDP growth leapfrogged from 0.8% in 2017 to 1.9% at the end of 2018. The LCCI DG explained further that the commercial arguments for a hike might be strong, as there was need for the importance of reckoning with the economic, social and political ramifications of such price reviews. According to the News Agency of Nigeria, the disclosure was made by the chairman, PTF on COVID-19 and Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, during a national briefing on COVID-19. It is classified as operating in the Toy & Hobby Goods & Supplies Merchant Wholesalers industry. This is evident from the huge strides we have recorded over the period and the several other viable business units and subsidiaries that have taken flight within the Konga Group. Not only does the online retail sector have a high-entry barrier, but the cost of sale is also usually high, thereby making profitability nearly impossible. This was followed by a one-shot reprint issue in 1968. D&B Hoovers provides sales leads and sales intelligence data on over 120 million companies like KONGA around the world, including contacts, financials, and competitor information. Dr Yusuf emphasized that the government should ensure there is a smooth transitioning to the new tariff pricing regime. He advised that to facilitate a smooth transition, the contexts of the transition should have a moderate effect on price movement at this time, as electricity is a product of high social significance. The economic growth, for the first time, was hinged on non-oil sectors such as Agriculture, Information and Communications Technology, Manufacturing, and Transport Storage. See insights on Conga including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. On the other hand, the Chairman announced that the PTF has commenced sanctions on passengers who defaulted on day-7 post-arrival tests, stating that their passport numbers have been published and that travel restrictions have been imposed on them for a period of six months, effective from January 1, 2020. “Chevron showed the highest yield of 6.87% on investment and is expected to do more in 2021, next was Agungi (6.31%), while Osapa came in third with 6.06%. Konga generates $3.5M in revenue; How much funding does Konga have? since Zinox acquisition of Konga in February 2018, Jumia explains how its “interconnected ecosystem” will help drive growth, the first e-commerce company to hit profit by 2021, company recorded cost reduction within eighteen months, What Is A Stock Split and How It Affects You, Short-stay apartments record boom, amid COVID-19 second wave fears, Covid-19: FG publishes list of suspended passports for refusing post-arrival Covid-19 test, PTF on Covid-19 certifies NYSC orientation camps ready to open on November 10, COVID-19 vaccine: Africa to get 50 million doses from Pfizer and BionTech, NPHCDA to address infrastructural gaps in COVID-19 vaccine supply, Covid-19: 4 states account for 64% of testing – FG, Increase in electricity tariff and fuel price is counterproductive – ActionAid Nigeria, NERC Will Punish Any Disco That Rejects Electricity From TCN, Buhari moves against DISCOs that collect money for prepaid meters, Inflation rate, yet to factor in rise in higher electricity prices, What to do if your DisCo has not complied with reversed electricity tariff this week. READ: NPHCDA to address infrastructural gaps in COVID-19 vaccine supply. Another way to prevent getting this page in the future is to use Privacy Pass. Soc. Jumia is headquartered in Lagos, Lagos. Breaking News Business & Economy. He said, “There are an estimated 50,000 new jobs over the next decade. Contact for tips: [email protected]. We are constantly reviewing our strategy to emerging situations especially in risk communication, vaccine hesitancy, fake news/disinformation,” he said. Annual Reports. Konga has historically raised $78.5M in funding E-Commerce companies in Nigeria (and Africa at large) have generally struggled overtime to make profits. Mr. Mustapha stated that 731 out of the 35,419 Batch B members tested via RDTs, indicating about 2.1% of the total sample size, turned out positive for the deadly virus. He said a great number of people are moving towards Lekki axis due to the prospects they see in the area. Instead, they are considering a number of options centred around downsizing the space they currently occupy, as many have realized that they can operate without the entire team in the same brick and mortar space. If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware. He said the company’s growth was in line with investors’ expectations. Conga CEO Matthew Schiltzsays average customer pays $7.3K company has raised $130.0M, hit $80.0M in revenues. googletag.pubads().definePassback('/42150330/nairametrics/Nairametrics_incontent_new', [300, 250]).set("page_url", "%%PATTERN:url%%").setClickUrl("%%CLICK_URL_UNESC%%").display(); Get the scoops and market intelligence that can helpyou make better investment decisions right in yourmailbox. It is true we are incurring huge losses now based on the e-commerce business model. Note. This is higher than the preceding figure of 108 recorded in NYSC Batch A screening. The first, Konga Prime, sources at the company disclose, represents Konga’s loyalty programme for shoppers. Nairametrics research understands millions of dollars in diaspora inflows are being channelled into the sector. Konga received USD $3.5 million worth of orders during its 2014 Black Friday promotion, compared to USD $300,000 during the promotion in the previous year. The acquisition of @ShopKonga by @ZinoxTechNG seems to be yielding positive results as the e-commerce company has made a turnover growth of 800% since the acquisition which took place last year. Learn how your comment data is processed. Conga Funding. Konga also appeared in a three-issue miniseries that started off as The Return of Konga, before it was renamed Konga's Revenge with issue #2. “Per house types, Island 1 zone has the highest values (rental & sale) for both 3-bedroom and 4-bedroom houses. The SEO work for Konga.com was recognised for driving a 317% year on year increase in revenue through paid search and increasing revenue by 451% through organic search. 2019. He made this appeal during an interview with the News Agency of Nigeria (NAN) in Lagos on 5 January 2021. Lagos. Imprese di Lecco 00703180166 - P.IVA (VAT) IT 00703180166 - SDI code: DXEBYTP - Cap. The Presidential Task Force (PTF) on COVID-19 has disclosed that a total of 731 NYSC Batch B members have tested positive for the deadly COVID-19 pandemic. “Though many offices are starting to open up, the enforcement of varying levels of lockdown as a result of the coronavirus, forced corporates to temporarily close their offices in the first half of the year or introduce new work policies to sustain business operations during the period.”. The DG, the Lagos Chamber of Commerce and Industry (LCCI), Dr Muda Yusuf, has called on the FG and electricity distribution companies (DisCos) to adopt a strategic approach to the nation’s electricity pricing, so as to facilitate a smooth transition to new electricity pricing regime. Note: Sixteen physical stores and hubs are currently being operated by Konga in Lagos, with more than that across Nigeria. Konga raises revenue by 800% over 18 months, cuts losses Monday 22 July 2019 | 11:18 CET | News. Covid-19 robs NBA of $1.5 billion in revenue; Board to fix start of new season. Wenzhou Konga Intelligent Locks Industry Co., Ltd. is a China Based Company, specialized in supplying Door Handle, Smart Lock, Door Stopper » Free Signup Now! In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. This site uses Akismet to reduce spam. Source: Telecompaper Konga: Konga offers NGN 10 mln in vouchers for up to 10,000 customers during Covid-19 crisis (Telecompaper) Nigerian e-commerce Konga will provide a NGN 10 million fund for a least 10,000 shoppers to cushion the effects of the coronavirus, to be … The two clubs – Konga Prime and Konga Prime Plus are set for launch in July 2020 and will offer members rarefied, exclusive access to a wide range of exciting benefits. [READ ALSO: Jumia explains how its “interconnected ecosystem” will help drive growth]. Conga has 794 employees across 13 locations, $117 m in total funding, and $50 M in annual revenue in Y 2017. Environmental, Social and Governance Our Businesses. $50 M Conga Revenue Y, 2017. To witness the full depth and breadth of our data and for industry leading sales … This challenge has led to companies such as Efritin shutting down their operation. “This is expected to continue as more residential and commercial development come up in these neighbourhoods, particularly Ikeja GRA, in few years’ time.”. Another member of NIESV, Lola Afolabi, agreed with Bamigbola, as she projected that land and house prices in Lekki Ikate, Chevron axis, Sangotedo and Lakowe are likely to keep increasing as the area welcomes more developments like Lagos Free Trade Zone, 4th Mainland Bridge and new city – Alaro City, which are all expected to come on stream in a few years. HWL . Summary Metrics. The spate of housing construction in several locations in Lagos is bringing hope of an imminent recovery in the sector in 2021. The 2020 edition of Konga Yakata runs from November 11 … Download the latest "Acrobat Reader" to view the PDF. 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