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.”. READ: NPHCDA to address infrastructural gaps in COVID-19 vaccine supply. Annual Report 2019. 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. To witness the full depth and breadth of our data and for industry leading sales … Mr. Mustapha said: “It is on record that cases were recorded from corps members from every state of the federation. Dr Yusuf emphasized that the government should ensure there is a smooth transitioning to the new tariff pricing regime. Jumia's main competitors are DealDey, Takealot Online, and Konga. 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. Jumia's IPO generated $196M. 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. There are 2 companies in the KONGA corporate family. 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. We are working very hard to meet investors’ expectations. Covid-19 robs NBA of $1.5 billion in revenue; Board to fix start of new season. 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. This was followed by a one-shot reprint issue in 1968. READ: NERC Will Punish Any Disco That Rejects Electricity From TCN. Online Classified Ads – Revenue Model. Learn how your comment data is processed. It is true we are incurring huge losses now based on the e-commerce business model. KPMG Professional Services Nigeria is a member firm of KPMG International, a global network of professional services firms. 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. Category. “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. 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. 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. Konga's CEO is Nick Imudia; How much revenue does Konga generate? “Furthermore, approval has been given to rehabilitate five oxygen plants across various tertiary health institutions in Abuja. He made this appeal during an interview with the News Agency of Nigeria (NAN) in Lagos on 5 January 2021. N igeria’s GDP growth leapfrogged from 0.8% in 2017 to 1.9% at the end of 2018. Archive. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. € 2.000.000 Special Forces Equipment NATO Suppliers List NCAGE No. “Ikeja GRA and its surrounding areas like Maryland, Mende, Shonibare estate remains the most expensive locations on the mainland part of Lagos state. 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. Conga Funding. $50 M Conga Revenue Y, 2017. 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. “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.”. You may need to download version 2.0 now from the Chrome Web Store. This is higher than the preceding figure of 108 recorded in NYSC Batch A screening. Your email address will not be published. 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. 731 out of the sampled 35,419 NYSC Batch B members have tested positive for the COVID-19 pandemic. In 1990, Steve Ditko illustrated a back-up story in Web of Spider-Man Annual #6 called "Child Star". Finally profitable. Audit Semi Senior KPMG Professional Services. The first, Konga Prime, sources at the company disclose, represents Konga’s loyalty programme for shoppers. Investing in real estate now is the right investment move anybody can undertake, especially along the Ibeju Lekki axis.”. Mustapha further added that the private sector has been supporting the cause by providing essential materials. Performance & security by Cloudflare, Please complete the security check to access. Conga annual revenue was $50 m in Y 2017. View Company. 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. However, we have 36 months of cash reserve to build Konga as a success. 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. 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. 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. Nairametrics research understands millions of dollars in diaspora inflows are being channelled into the sector. Related Topics. Jumia is an online marketplace that enables users to shop for clothes, electronic appliances, beauty products, and fashion accessories. 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. De très nombreux exemples de phrases traduites contenant "total annual revenue" – Dictionnaire français-anglais et moteur de recherche de traductions françaises. This site uses Akismet to reduce spam. Use the PitchBook Platform to explore the full profile. Currently Rocket has 13 ecommerce plays in key parts of the continent, through Jumia, Kaymu, its eBay clone and Zando in South Africa. Annual Reports. 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 … READ: Covid-19: FG publishes list of suspended passports for refusing post-arrival Covid-19 test. 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. 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). Konga raises revenue by 800% over 18 months, cuts losses Monday 22 July 2019 | 11:18 CET | News. 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. 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. 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. “This is expected to continue as more residential and commercial development come up in these neighbourhoods, particularly Ikeja GRA, in few years’ time.”. In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. This reclassification amounted to €0.5 million in the fourth quarter 2018 and €1.5 million for the full year 2018. This is a reflection of the deepened level of commercialization in these 2 zones. Contact for tips: [email protected]. KONG spa - via XXV Aprile, 4 - 23804 Monte Marenzo (LC) - ITALY tel +39 0341 630506 - fax +39 0341 641550 CCIAA Lecco REA 165758 - Reg. 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 … Soc. 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. 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. 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 high rental costs of Grade A office buildings located in Banana Island, Ikoyi and Victoria Island have contributed to this. 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. Konga generates $3.5M in revenue; How much funding does Konga have? Hence, they shared hotspot locations with Nairametrics across the nation’s commercial capital. HWL . 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. Revenue Reporting Konga Online Shopping Ltd. 2014 – Present 6 years. 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. “What is currently confronting us is a critical phase of infections globally. Arik Air resumes flight operations Oct. 24. Konga has historically raised $78.5M in funding [READ ALSO: Jumia explains how its “interconnected ecosystem” will help drive growth]. Hence, in this regard, the Government needs to be strategic and gradual while implementing the transition framework to the new pricing regime. Note: Sixteen physical stores and hubs are currently being operated by Konga in Lagos, with more than that across Nigeria. “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. CKH . Already, thousands of eager shoppers expectedly kept vigil on the Konga website – to be the first to grab the special commencement deals.. Conga has 794 employees across 13 locations, $117 m in total funding, and $50 M in annual revenue in Y 2017. As of August 2019. In addition, we have other approved projects and new lines of businesses that are set to be unveiled soon. We are constantly reviewing our strategy to emerging situations especially in risk communication, vaccine hesitancy, fake news/disinformation,” he said. READ: Increase in electricity tariff and fuel price is counterproductive – ActionAid Nigeria. The pressure created from this market imbalance inadvertently forced a drop in revenue and major eCommerce outfits began to lay off staff. He said, “There are an estimated 50,000 new jobs over the next decade. 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. “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. Timed with the Dreamforce to You 2020 events, Conga’s virtual 5K will take place November 9-12. • “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%. Juliet Anammah is the CEO of Jumia. Danbatta Visits Emir of Kano, Sues for Peace . Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). The spate of housing construction in several locations in Lagos is bringing hope of an imminent recovery in the sector in 2021. 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. Lagos. 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. This challenge has led to companies such as Efritin shutting down their operation. See in the sector in 2021, followed by a one-shot reprint in..., amid COVID-19 second wave fears s growth was in line with investors ’.. 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