“The presence of supporting infrastructure has contributed to the capital value increase in Mainland, especially in Ogudu and Magodo Shangisha areas, but this has not met corresponding rental valuation resulting in lower yields. 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. Konga generates $3.5M in revenue; How much funding does Konga have? Soon enough, anxiety increased over the future of eCommerce. 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.. Indeed, we are preparing to lead in this space.”, [READ ALSO: What Is A Stock Split and How It Affects You]. “What is currently confronting us is a critical phase of infections globally. The President has also approved that at least one oxygen plant should be established in each state of the federation immediately,” he said. It offers a third-party online marketplace, as well as first-party direct retail spanning various categories including consumer electronics, fashion, home appliances, books, children's items, health care and personal care products. E-Commerce companies in Nigeria (and Africa at large) have generally struggled overtime to make profits. Jumia's IPO generated $196M. It is true we are incurring huge losses now based on the e-commerce business model. “E-commerce is not just an extremely expensive project anywhere in the world with initial huge losses. 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. You may need to download version 2.0 now from the Chrome Web Store. The e-commerce business is yet to be profitable for online-marketplace companies in Nigeria, however, Konga in the past had reiterated that it would be the first e-commerce company to hit profit by 2021, despite the presence of strong competitors like Jumia. Currently Rocket has 13 ecommerce plays in key parts of the continent, through Jumia, Kaymu, its eBay clone and Zando in South Africa. Konga reportedly grew 2014 revenue 450% … In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. 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. Investing in real estate now is the right investment move anybody can undertake, especially along the Ibeju Lekki axis.”. He made this appeal during an interview with the News Agency of Nigeria (NAN) in Lagos on 5 January 2021. 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. 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. Contact for tips: [email protected]. Imprese di Lecco 00703180166 - P.IVA (VAT) IT 00703180166 - SDI code: DXEBYTP - Cap. The company also surpassed the milestone of over 1 billion visits during its Black Friday Campaign in 2019. Your email address will not be published. The spate of housing construction in several locations in Lagos is bringing hope of an imminent recovery in the sector in 2021. 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. READ: Increase in electricity tariff and fuel price is counterproductive – ActionAid Nigeria. 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. € 2.000.000 Special Forces Equipment NATO Suppliers List NCAGE No. [READ ALSO: Jumia explains how its “interconnected ecosystem” will help drive growth]. READ: Covid-19: FG publishes list of suspended passports for refusing post-arrival Covid-19 test. 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. Audit Semi Senior KPMG Professional Services. Hence, in this regard, the Government needs to be strategic and gradual while implementing the transition framework to the new pricing regime. This might involve a one-off membership fee and a monthly, quarterly or annual subscription fees. Conga has 794 employees across 13 locations, $117 m in total funding, and $50 M in annual revenue in Y 2017. The development has enabled industry stakeholders to be optimistic that despite the second wave of the pandemic, the sector will yield returns to investors in 2021 for various reasons. 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. 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. Konga Raises Curtains On Biggest Sale Of The Year – www.brandspurng.com. Jumia is headquartered in Lagos, Lagos. In Africa, Nigeria has joined South Africa in reporting the highest daily infection cases. The economic growth, for the first time, was hinged on non-oil sectors such as Agriculture, Information and Communications Technology, Manufacturing, and Transport Storage. Already, thousands of eager shoppers expectedly kept vigil on the Konga website – to be the first to grab the special commencement deals.. “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. Home › Breaking News › Nigeria @ 60: Konga offers best prices with Freedom Sales. See insights on Conga including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. To witness the full depth and breadth of our data and for industry leading sales … “The lowest yield was seen in Ogudu – 3.10%, next being Magodo (Shangisha) – 3.19% and third being Magodo (Isheri) – 3.20%. Up to June last year, Kinnevik had invested a total of SEK 209 million ($24 million) in Konga. Some of the prospects are based on believes that “Island is the commercial capital of the state,” with attractions like the Deep-Sea port, Dangote refinery, and the proposed Airport, amongst others. “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%. “There is also a rising rate of infections among healthcare workers and these calls for the escalation of surveillance. “The high rental costs of Grade A office buildings located in Banana Island, Ikoyi and Victoria Island have contributed to this. Konga recently moved to a new 120,000 square-feet fulfillment center. Annual Report 2019. “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 2020 edition of Konga Yakata runs from November 11 … 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. He said, “There are an estimated 50,000 new jobs over the next decade. READ: Short-stay apartments record boom, amid COVID-19 second wave fears. “Ikeja GRA and its surrounding areas like Maryland, Mende, Shonibare estate remains the most expensive locations on the mainland part of Lagos state. • 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. Danbatta Visits Emir of Kano, Sues for Peace . 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. Jumia's main competitors are DealDey, Takealot Online, and Konga. 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.”. 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. The first, Konga Prime, sources at the company disclose, represents Konga’s loyalty programme for shoppers. “This is expected to continue as more residential and commercial development come up in these neighbourhoods, particularly Ikeja GRA, in few years’ time.”. Konga, which has Naspers as an investor could make a formidable competitor for Rocket Internet across the continent once it begins its expansion plan. 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. Online Classified Ads – Revenue Model. Despite the optimism expressed by the realtors, a number of them argued that the office market segment of the sector may suffer certain setbacks due to the pandemic. 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. As of August 2019. “Per house types, Island 1 zone has the highest values (rental & sale) for both 3-bedroom and 4-bedroom houses. 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 … $50 M Conga Revenue Y, 2017. Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. Soc. Use the PitchBook Platform to explore the full profile. CK Hutchison . 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. “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. Covid-19 robs NBA of $1.5 billion in revenue; Board to fix start of new season. Related Topics. Black Friday Promotion. 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. Kong's annual revenues are $100-$500 million (see exact revenue data) and has 100-500 employees. READ: NERC Will Punish Any Disco That Rejects Electricity From TCN. KONG spa - via XXV Aprile, 4 - 23804 Monte Marenzo (LC) - ITALY tel +39 0341 630506 - fax +39 0341 641550 CCIAA Lecco REA 165758 - Reg. 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. Performance & security by Cloudflare, Please complete the security check to access. Cloudflare Ray ID: 60d521a4794a0838 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. However, reports across Lagos indicate real estate developers continued to build during the pandemic months of 2020 fuelled by increased demands in residential housing units. READ: Covid-19: 4 states account for 64% of testing – FG. 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. Annual Reports. “We have spent the last year restructuring the business and positioning it on a very solid footing. See more Conga data on Latka “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. Why Jumia's annual revenue is $149.6 Million. 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. 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. Category. READ: COVID-19 vaccine: Africa to get 50 million doses from Pfizer and BionTech. Konga raises revenue by 800% over 18 months, cuts losses Monday 22 July 2019 | 11:18 CET | News. This was followed by a one-shot reprint issue in 1968. 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. View Company. Please enable Cookies and reload the page. 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. 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. … Download the latest "Acrobat Reader" to view the PDF. The same also goes for office space rental values.”. 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. 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. Founding Date: 2006: Conga: total Funding$117 m: Conga: latest funding size$47 m : Time since last funding: 2 years ago: Conga: investorsInsight Venture Partners, Salesforce Ventures: Conga's latest funding round in May 2018 was reported to be $47 m. In total, Conga has … 731 out of the sampled 35,419 NYSC Batch B members have tested positive for the COVID-19 pandemic. upon completion, will further trigger the rise in property values in the zones. Though it was a means of keeping businesses running in the heat of the pandemic, it is clear that many international corporates will not be returning to the status quo. Environmental, Social and Governance Our Businesses. 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. Conga annual revenue was $50 m in Y 2017. 2019. 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. Nairametrics research understands millions of dollars in diaspora inflows are being channelled into the sector. 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). Summary Metrics. Jumia is an online marketplace that enables users to shop for clothes, electronic appliances, beauty products, and fashion accessories. Conga CEO Matthew Schiltzsays average customer pays $7.3K company has raised $130.0M, hit $80.0M in revenues. KPMG Professional Services Nigeria is a member firm of KPMG International, a global network of professional services firms. KONGA has 2 employees at this location and generates $61,306 in sales (USD). Dr Yusuf emphasized that the government should ensure there is a smooth transitioning to the new tariff pricing regime. In addition, we have other approved projects and new lines of businesses that are set to be unveiled soon. This is a reflection of the deepened level of commercialization in these 2 zones. He said a great number of people are moving towards Lekki axis due to the prospects they see in the area. 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. Hence, they shared hotspot locations with Nairametrics across the nation’s commercial capital. This is higher than the preceding figure of 108 recorded in NYSC Batch A screening. 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. Konga's CEO is Nick Imudia; How much revenue does Konga generate? 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. We are working very hard to meet investors’ expectations. 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. He said the company’s growth was in line with investors’ expectations. Konga.com is an electronic commerce company. The series ran from 1962-1964. Note. 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. N igeria’s GDP growth leapfrogged from 0.8% in 2017 to 1.9% at the end of 2018. Finally profitable. However, we have 36 months of cash reserve to build Konga as a success. 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. It is classified as operating in the Toy & Hobby Goods & Supplies Merchant Wholesalers industry. 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. 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. This challenge has led to companies such as Efritin shutting down their operation. 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. This site uses Akismet to reduce spam. It is a very complicated business,” Ekeh said about the e-commerce business. HWL . • Learn how your comment data is processed. Archive. Your IP: 104.199.55.232 Annual Reports; Departmental Interpretation and Practice Notes; Board of Review Decisions; Ordinances Administered; Prosecution Cases; Press Release; Stamp Duty statistics; Access to Information; Policies. De très nombreux exemples de phrases traduites contenant "total annual revenue" – Dictionnaire français-anglais et moteur de recherche de traductions françaises. 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. Timed with the Dreamforce to You 2020 events, Conga’s virtual 5K will take place November 9-12. Konga has historically raised $78.5M in funding Note: Sixteen physical stores and hubs are currently being operated by Konga in Lagos, with more than that across Nigeria. The spate of housing construction in several locations in Lagos is bringing hope of an imminent recovery in the sector in 2021. 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. It is classified as operating in the Toy & Hobby Goods & Supplies Merchant Wholesalers industry. READ: NPHCDA to address infrastructural gaps in COVID-19 vaccine supply. Mr. Mustapha said: “It is on record that cases were recorded from corps members from every state of the federation. This reclassification amounted to €0.5 million in the fourth quarter 2018 and €1.5 million for the full year 2018. “Furthermore, approval has been given to rehabilitate five oxygen plants across various tertiary health institutions in Abuja. There are 2 companies in the KONGA corporate family. We are constantly reviewing our strategy to emerging situations especially in risk communication, vaccine hesitancy, fake news/disinformation,” he said. Breaking News Business & Economy. As Konga scales, it will need more and more fulfillment centers and it’s not easy to set up one. Increased digital reach Konga boost revenue 451% via SEO. Wenzhou Konga Intelligent Locks Industry Co., Ltd. is a China Based Company, specialized in supplying Door Handle, Smart Lock, Door Stopper » Free Signup Now! Information on acquisition, funding, cap tables, investors, and executives for Konga. Revenue Reporting Konga Online Shopping Ltd. 2014 – Present 6 years. 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. In 1990, Steve Ditko illustrated a back-up story in Web of Spider-Man Annual #6 called "Child Star". Jumia announced today financial results for its fourth quarter ended December 31, 2017, and for the full year 2017.. Jumia, the leading online eCommerce ecosystem in Africa, grew GMV by 64,5% to 197,9 MEUR (+113% in constant currency) in the fourth quarter … Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). Lagos. 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 response, most companies allowed staff to work remotely during the lockdown period. 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. FCTA disburses N2.495bn to area councils, others in September. 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. “The growing development in nascent Island 2 areas is also reflected in its high price of land averaging N112,021/sq. Conga Funding. Another way to prevent getting this page in the future is to use Privacy Pass. However, the growth, although significant, was below the projected 2.3%, majorly due to variations in prices of crude oil and its output. Arik Air resumes flight operations Oct. 24. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. 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. Juliet Anammah is the CEO of Jumia. “Island 1 zone recorded the highest land prices, which is expected to be repeated in 2021, followed by Mainland 3. “The median yield in Lagos state from this consensus analysis is 4.32% and it is obtainable in Yaba.”. CKH . Mustapha further added that the private sector has been supporting the cause by providing essential materials. Are 2 companies in Nigeria ( and Africa at large ) have generally struggled overtime to make.... Sector in 2021 strategic and gradual while implementing the transition framework to the tariff... New tariff pricing regime obtainable in Yaba. ” that are set to be strategic and gradual while implementing transition! Danbatta visits Emir of Kano, Sues for Peace DXEBYTP - cap situations especially in risk communication, vaccine,! Private sector has been given to rehabilitate five oxygen plants across konga annual revenue tertiary health institutions in.! 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Repeated in 2021, followed by Mainland 3 scales, it will need more and more fulfillment centers and is. 2 employees at this location and generates $ 3.5M in revenue and major eCommerce outfits began to lay off.... Of surveillance Ditko illustrated a back-up story in Web of Spider-Man annual # 6 called `` Child Star '' 18! From this market imbalance inadvertently forced a drop in revenue ; How much funding Konga! With more than that across Nigeria ) in Lagos is bringing hope of an imminent recovery in the &... And these calls for the COVID-19 pandemic recently moved to a new 120,000 square-feet fulfillment center there is also rising...