Zinox Group, one of Africa’s biggest technology group has acquired e-commerce platform, Konga.com which remains one of the biggest players in the sector; KOS-Express, the world class logistics arm of the business and KongaPay, the company’s integrated mobile money payment channel with over 100,000 subscribers.
The landmark deal approved by Securities and Exchange Commission (SEC), is expected to raise the profile of e-commerce in the country.
Industry analysts estimate that the acquisition could lead to the integration of Konga and Yudala, which is owned by Chairman Zinox Group, Mr. Leo Stan Ekeh’s son, to wade off competition and make it one of biggest e-Commerce companies in Africa.
Head of Corporate Communications, Zinox Group, Mr. Gideon Ayogu confirmed the development, said;
“Konga is a world-class, professionally-run company whose landmark strides in the sector has gone a long way in ushering millions of Nigerians into the ease and convenience of online shopping and boosting the conduct of e-commerce in the country.”
He added: “Today, many Nigerians can attribute their first experience of e-commerce to Konga.com and we are excited to be a part of this remarkable story.
“Many shoppers can also attest to the speed and efficiency in delivery that characterizes Kos-Express, the company’s logistics arm, which is arguably the best in the sector at the moment.
“Our ambition is to up the tempo by revolutionising e-commerce on the African continent, with Konga at the fore-front of this initiative.
In addition to positioning the business on a path of profitability in the short term, our long term plans are focused around seeing Konga well established in other African capitals.
“Furthermore, we will be unveiling a lot of new initiatives soon and we advise shoppers and merchants alike to look out for these innovations which will radically reshape the average customer experience of e-commerce in Nigeria and on the continent.”
Easy Ways To Avoid Excessive Spending
A lot of people who spend excessively do not have enough money or are always in debt. If you also spend excessively and you want to put an end to it, then this post is definitely for you!
1. Inculcate discipline:
Discipline is act of the doing the right thing at the right time. It is synonymous to self control. Being disciplined is the surest way to cut down excessive spending. Discipline entails being able to spend in a wise and rational way without anyone compelling you to.
2. Prepare meals yourself:
Meals prepared at home are very cheap compared to meals that one buys at a cafeteria or at a restaurant though they might be tastier. However, as time goes on you will certainly improve- Cooking is an art that’s perfected day after day.
3. Have a plan, A budget:
A budget is itemized summary of intended expenditure usually coupled with expected revenue. An expenditure is an amount of money to be spent while a revenue is a source of income. When making a budget, your intended expenditure must be lesser than the expected revenue so as to cater for contingencies that may arise.
4. Waste not and buy in bulk:
Do not waste any valuable items or asset you have. If you find an item no longer useful, you can do well by selling or giving it out to charity. Also, buying things in bulk saves you a lot of money as the unit price of commodities are higher when compared to what you get for buying in bulk.
5. Learn to say no to volunteering your money and buying unnecessary things:
Sometimes your inability to say no to certain things is the reason why you are always broke. You should avoid volunteering your money to events that come up too frequently and not occasionally. In addition, you should ask yourself of you really need what you are about to buy.
6. Reduce the use of credit cards and online shopping :
When you buy things using your ATM Card or credit card, there’s a probability that you will spend excessively. Online shopping, paying through the POS or buying airtime through your account is so convenient that you don’t realise you are already spending too much. So if you want to reduce excessive spending, cut down the use of credit cards and online shopping!
7. Ignore some discounts and price slashes:
Many malls and online shops increase their sales by occasionally providing discounts and price slashes but at a disadvantage to many people who buy things they do not need just because of incentives of this kind.
8. Do your laundry yourself:
Doing your laundry yourself can be a very strenuous task but doing it yourself saves you a lot of money and makes you self reliant.
9. Drink more water:
Water is the best liquid one can drink because of it health benefits and at the same time, it is one of the cheapest liquids you can find when compared to Soda, fruit juices, wines and beers. This is not to say you shouldn’t take other beverages but taking more water is cost effective and will make you healthier.
10. Don’t carry more cash than you need around:
Let’s consider two individuals- John and Daniel. John leaves home with 6,000 Naira and Daniel leaves home with 1,400 Naira.
Who is more likely to spend excessively during the day between the two individuals? Obviously, John is likely to spend excessively and Daniel is likely to spend reasonably.
Having read this, I hope you have learnt how to cut down on your expenses.
You Can Drop Your Comments Below!
Is It The End? Google Bans Cryptocurrency Ads While Bitcoin Continues To Drop
Bitcoin has been falling since the beginning of this year and to make matter worst, yesterday Google announced that it will no longer allow cryptocurrency-related ads on its platforms.
The market sunk, fell and almost collapsed as news spread. Facebook Inc., Google’s primary rival for ad dollars, banned ads for cryptocurrencies in January.
It will interest you to know that Facebook and Google control somewhere between 60% – 70% of the online advertising market, so no one wants to be on their bad side.
In a blog post on Tuesday, Google announced that it would follow in Facebook’s footsteps and ban cryptocurrency ads from its network, beginning in June 2018.
What this means is that Google will now prohibit promotions of “Cryptocurrencies and related content, including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice.”
Just seven weeks ago, Prodeum ICO runs a way with investors fund and leave a dick head on their website, transfers all the ethereum to another account were left lamenting in their bedroom.
Bitcoin Connect exited the cryptocurrency scene, closed their lending program and left with investors’ money.
As it is now, nobody knows the future of cryptocurrency, bitcoin is not an investment scheme, it is a virtual currency, making it more volatile. You can trade with it with other altcoins and make your profit but it is not an investment.
My advice, be careful of the cryptocurrency you invest in. be careful of what ICO you jump into… It’s easier to make and loose thousands of dollars within seconds in cryptocurrency.
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