- Konga Plans to Hit $10m Daily Turnover by 2024
Konga, an online e-commerce giant based in Nigeria, on Tuesday disclosed it has perfected plans to attain an impressive feat of $10 million daily turnover by 2024.
The co-Chief Executive Officer (online), Nick Imudia, made the statement.
According to him, the e-commerce company would reach a $5 million daily turnover target by 2022 and a $10 million daily turnover target two years later in 2024.
This projection he attributed to overall operational efficiency backed by consistent reduced losses and other critical growth factors.
Imudia said, “Konga has used the last decade to lay a solid foundation for e-commerce business in Nigeria and to build trustworthy relationships with customers and potential investors across the Nigerian business spectrum. With the high level of trust the brand has gained among shoppers in and out of Nigeria, it is safe to say Konga is ready to scale big in the early part of this third decade.
“Therefore, we are targeting a $10 million daily turnover by 2024. We shall attain half of this target at least by 2022. To meet this target, we would be relying on the efficiency we have brought to bear on the business and the renewed confidence the Konga brand enjoys among critical stakeholders.
“There is no iota of doubt that Konga remains in prime position to attain this target, especially when one looks at the consistent growth the brand has recorded in the past years. Konga has grown over eight times since the business was acquired by the Zinox Group.
“Secondly, we have consistently reduced our losses by nearly 70%. Added to this is the addition of new and thriving business units such as Konga Travel, among others, all of which have enjoyed huge growth and massive acceptance by our rapidly expanding customer base.”
He mentioned Konga state-of-the-art regional warehousing facilities as one of the reasons the e-commerce company is better prepared for large turnover and growth.
We are not relenting on our determination to continually meet and exceed the aspirations of our numerous customers, no matter who they may be and where they may be. In addition to this, we shall continuously grow investor confidence in Nigeria’s e-commerce sector and help everyone to see the brighter side of e-commerce business in Nigeria, even as we consistently explore ways of ways of upgrading our processes and raising the standard of service delivery and customer satisfaction in the sector.
‘‘We will be rolling out additional new business units in the weeks and months ahead. These additions will excite our customers and expand the Konga retail revolution to new verticals. To make the shopping experience a memorable one for our customers, we have also lined up various value-adding services and promotions throughout the year. These assets and many others too numerous to mention will shape the Nigerian e-commerce sector in 2020 and the succeeding years,’’ he concluded.
