Excitement has trailed the commencement of composite e-Commerce giant, Konga’s 9th Anniversary promotion, with shoppers expressing their delight at the mouth-watering prices and deals on offer.
The Konga 9th Anniversary sale, which kicked off on Friday, June 25, will end on Monday, July 5, 2021.
Already, the promotion, which commenced last week, has witnessed significant traffic online at the website and in various Konga retail stores across Nigeria. As expected, thousands of early bird shoppers had thronged both platforms, looking to be among the first to grab the juicy offers put together by the foremost e-Commerce brand.
Investigations reveal that while many had opted to go online to take advantage of the early deals, others had chosen to target the stores.
In Kano, Aminu Muhammed, a business owner, disclosed that he had waited with eager anticipation for the commencement of the sale, adding that he had been among the first persons to visit the Konga store along Post Office road.
‘‘As a bulk trader, I usually lookout for special deals and offers. So, when I learned of the anniversary sale on social media, I had decided to visit the Konga store once it commenced. Usually, a lot of traffic is recorded online as more people prefer to shop that way because of convenience. But my strategy has always been to go to the store and as usual, I was able to get some very good deals.
‘‘I am a regular customer of Konga. You cannot beat their prices for genuine products and most importantly, I have the assurance of buying only authentic products,’’ Muhammed disclosed.
In Abuja, Port Harcourt, Uyo, Enugu, Owerri, Asaba, among others and, especially in Lagos – where many defied the light showers early on Friday to visit the various Konga stores spread across the state – the story was the same.
At Festac, a Lagos suburb, Patience Mark, a student, revealed that she was able to conclude her back-to-school shopping on Friday when the sale commenced.
‘‘I have been delaying my return to school because I needed a new laptop and a few other items which I wanted to shop on Konga. In fact, I had ordered a few of them online but chose to wait for the anniversary promo to get the laptop and others.
‘‘It turned out to be a wise decision as I bought everything in the Festac store on Friday. Only one item was not available and I returned there on Saturday to pick it up. The prices were really good and I am happy,’’ she said.
On social media, feelers indicate that many satisfied shoppers also benefitted from the early bird deals.
On Instagram and Facebook, Konga had received quite a few hits and shout-outs from shoppers who participated in the treasure hunt and flash sales which heralded the 9th Anniversary sale.
Another factor that left many shoppers thrilled was the fact that prices had been heavily discounted for the 9th Anniversary promotion, which Co-CEO, Konga Group, Nick Imudia, had disclosed will situate the company’s landmark achievements in the e-Commerce ecosystem while affording it the opportunity to reward its loyal customers with mega deals.
The anniversary sale is currently running across the entire suite of Konga’s massive bouquet including Mobile Phones, Electronics, Home & Kitchen, Computing & Accessories, Fast Moving Consumer Goods (FMCG), Fashion, Power, Fashion, Baby, Kids & Toys (BKT), Beauty and much more.
Also, a number of freebies and giveaways are on offer for Konga customers.
In addition to the treasure hunts and flash sales, there is a chance for shoppers to sing and win amazing prizes via the Konga Karaoke. Furthermore, two lucky Nigerians will get a chance to win shopping vouchers daily on live radio for nine days.
This is in addition to other incentives such as free shipping, app-only deals, as well as a special 9th Anniversary live auction (Konga Last Price) which will hold on Monday, July 5.
Nvidia’s Arm Acquisition Now Highly Unlikely to Go Through
Gartner semiconductor analyst Alan Priestly has said that Nvidia’s planned $40 billion acquisition of United Kingdom Chip Designer Arm is becoming more unlikely to be successful.
Priestly attributed this possible failure to the increasing number of regulatory inquiries which the deal is facing, also making mention of concerns in the United Kingdom, the European Union, the United States of America and China. Priestly said this to CNBC on Wednesday, with both Nvidia and Arm failing to respond immediately to a request for comment by CNBC.
The deal had previously eyed a completion date of March 2022, but the CEO of Nvidia Jensen Huang had admitted in August that the deal may go beyond the anticipated date.
Arm was born out of an old computing company known as Acorn Computers back in 1990. The energy-efficient chips designed by the company are used in about 95% of smartphones around the world and 95% of chips designed in China. The company was bought by Japan-owned SoftBank in 2016 for about 24 billion pounds ($32 billion), authorizes its chip designs to over 500 companies who use these chips when making their own semiconductors.
Critics have concerns that the merger with Nvidia – who is responsible for designing its own chips – could hinder Arm’s semiconductor designs which have been dubbed neutral, and may then lead to increased prices, less available choices and reduced innovation across the industry. Nvidia however argues that the deal will result in more innovation and that Arm will benefit from an increase in investment.
American chip giant Broadcom has publicly shown support for the deal, but many others remain against it.
Qualcomm has stated that Nvidia could proceed to limit the supply of Arm’s technology to competitors, or even raise prices. Bloomberg reports that Google and Microsoft have raised similar concerns with regulators.
The United Kingdom announced back in November that it would be launching a full investigation into the takeover of Arm by Nvidia, with the Competition and Markets Authority (CMA) investigating antitrust concerns and national security issues over the period of 24 weeks.
Transcorp Plc Targets of 843MW Combined Capacity
Transnational Corporation of Nigeria (Transcorp) Plc disclosed plans to increase the combined available capacity of its power plants Trans Afam Power Limited (TAPL) and Transcorp Power Limited (TPL) to 843 Megawatt (MW).
The power plants are currently undergoing upgrades and repairs. It plans to raise the average available capacity in the Trans Afam Power plant to 166MW and to 677MW in the Transcorp Power Plant.
The Group CEO, Owen Omogaifo spoke at the company’s third-quarter 2021 Analysts presentation and investors conference call and said the company would leverage strategic relationships to sell its stranded capacity through the West African Power Project (WAPP), through partnerships with DisCos, directly to eligible customers among other means.
She went on to say “60 Percent of the population or 117 million people have some level of access to grid electricity, With a generation capacity of only 32 percent, there is a large gap to be filled in the power industry. Given the gap in the sector and the increasing demand for electricity, the power sector remains an attractive investment choice. Our plants are undergoing significant upgrades and repairs that will significantly increase the available capacity by December 2021. We plan to have an extensive engagement with TCN towards resolving several transmission challenges which are affecting our generation and evacuation capabilities.”
She went on to present the company’s financial performance for the third quarter. The company grew its Profit After Tax by 672.1 Percent from N1.75 billion in the prior year to N13.5 billion while earnings rose by 57.4 Percent to N85.59 billion from N54.38 billion in the prior period.
Transcorp Plc is a leading diversified conglomerate focused on acquiring and managing strategic businesses that create long-term value and socio-economic impact. Its subsidiaries include Transcop Hotels, Transcorp Power, and Transcorp Energy. The company is listed on the main board of the Nigerian Exchange Group.
MTNN Still Maintaining the Largest Share – Coronation Merchant Bank
The latest data released by the Nigerian Communications Commission (NCC), the industry regulator, show that internet subscriptions stood at 140 million in October. This represents a y/y decline of -8.2%. However, we noticed a m/m increase of c.61,000 in subscriptions. The y/y decline can be partly attributed to the FGN’s subscriber identification Module (SIM) card regulation, which requires each SIM card to be linked to a National Identification Number (NIN). Based on our channel checks, the stress associated with the NIN-SIM linkage has resulted in customers abandoning SIMs of devices that are not their primary source for communication or internet connectivity.
Furthermore, over the past year, there has been a visible shift to fibre broadband internet subscription plans which do not require SIM cards to function. Residential estates are increasingly tilting towards this option given the heavy reliance on internet services at home due to the ongoing work-from-home approach.
Among the mobile network operators, MTN Nigeria (MTNN) accounted for the largest share (38%) of total subscriptions. We noticed from the commission’s data that in October MTNN recorded a 0.1% m/m increase in internet subscriptions. Airtel and Glo recorded m/m increases of 1.6% and 0.7% respectively. Meanwhile, 9mobile recorded a m/m decline of -1.3%.
Furthermore, the commission’s data show that outgoing porting activities was highest for 9mobile while Airtel was the chief recipient of incoming porting activities.
The latest earnings release by MTNN show that revenue grew by 22.9% y/y in Q3, compared to the 31.4% y/y growth it delivered in Q2. The solid sales growth was largely driven by a 57.3% y/y growth in data revenue, on the back of sustained data demand supported by fintech, digital services and partly by base effect.
Broadband penetration currently stands at 39.8%. Based on the national broadband plan 2020-2025, the FGN projects a broadband penetration target of 70% by 2025. In March, Anambra state waived right-of-way (RoW) fees for telecom operators as part of the state’s efforts to drive broadband expansion. The harmonisation of right-of-way (RoW) charges across states and local government areas would assist with boosting broadband penetration. The FGN proposed a RoW fee of N145 per linear meter of fibre.
We understand that the NCC plans to auction two slots of 3.5GHz spectrum license this month. The sale of these slots of 3.5GHz spectrum is expected to facilitate 5G rollout across the country. The commission disclosed that the remaining three slots will be auctioned over the next two years. The NCC has pegged the reserve price for the 3.5GHz spectrum at USD197.4m. Industry sources suggest that the successful 5G rollout will result in a boost to internet data speed at ultra-low latency as well as more reliable and increased network capability.
Turning to data from the National Bureau of Statistics (NBS) capital importation into the telecommunications sector declined by -99.7% y/y to c.USD342,000 in Q2 ’21. This significant decline in investments into the sector can be linked to general investor apathy given the hazy macroeconomic environment triggered by the pandemic as well as infrastructure deficit in the telecommunications sector, high cost of services, low digital literacy, among others.
For Nigeria to become an active member of the current digital transformation within the global village, huge investments in telecommunications infrastructure are required. A deepened broadband penetration feeds directly into better internet access and the ripple effect of the latter on the economy attracts immeasurable benefits.
According to the latest national accounts, telecommunications posted double digit growth of 10.9% y/y in Q3 2021. Furthermore, the latest inflation report shows that communications prices rose by 10.6% y/y in October compared with 10.7% y/y recorded in the previous month. The telecommunications segment was already expanding rapidly and has been further boosted by the prevalence of working from home due to the COVID-19 pandemic.
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