Konga’s Turnover Rises by 800% as Losses Reduce Drastically

Konga—Nigerian e-commerce platform, has revealed that they are an organization set on succeeding. This considering that they have achieved over 800% turnover, with a huge loss reduction in the last 18 months.

As disclosed by the company’s co-CEO, Prince Nnamdi Ekeh, the new management that took over the company after its acquisition has grown the business to the delight of its new investors. He noted that the recent development will set the company on a path of profitability by 2022.

He revealed that they reduced cost by 45% and boosted growth by 800% in the last 18 months. Konga is working to meet investors expectations, he said. Nnamdi also said that they have 36 months cash reverse to build Konga – even though the e-commerce model of the company is incurring losses for them.

In his words, Nnamdi said, “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.”

Konga has successful launched Konga Travels and Tours, a travel booking industry. They also have other approved projects and new lines of businesses that are waiting to be unveiled. The e-commerce company currently operates about 16 physical stores and hubs in Lagos, Nigeria.