- Konga on Path to profitability With 800% Increase in Turnover
Over the past 18 months, Konga, a Nigeria e-Commerce company has recorded losses in its operations but recently struck gold as it achieves 800 percent increase in turnover and set its course towards profitability.
The Co-CEO, Nnamdi Ekeh who disclosed this, said the new management of Konga has implemented strategies and succeeded in reversing losses by growing the business to the delight of its new investors.
This new development further raised expectations of the company hitting the path of profitability by 2022.
“We have reduced cost by over 45 per cent and also achieved growth of over 800 per cent in the past 18 months. We are working very hard to meet investors’ expectations. It is true we are incurring huge losses now based on the e-commerce business model. However, we have 36 months’ cash reserve to build Konga as a success.
“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. In addition, we have other approved projects and new lines of businesses that are set to be unveiled soon,” Ekeh said.
Co-CEO, Nnamdi Ekeh, recently spearheaded a major Corporate Social Responsibility (CSR) project anchored by the company.
According to him, the company has put in so much work behind the scenes and is now ready to take the lead.
“We have spent the last year restructuring the business and positioning it on a very solid footing. 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. Indeed, we are preparing to lead in this space,” he ventured.