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Konga Has Grown 8 Times Over, Prince Ekeh Tells CNN

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Nnamdi Ekeh speaking with CNN's Elena Giokos
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Konga, Nigeria’s foremost e-commerce giant, has made significant strides which have positioned it as the clear leader in Nigeria’s highly competitive e-commerce market. The foregoing was disclosed by Prince Nnamdi Ekeh, co-chief executive officer of Konga, in a chat with Cable News Network (CNN), global news medium, last week.

Konga Has Grown 8 Times Over, Prince Ekeh Tells CNN

Prince Ekeh was speaking to CNN Marketplace Africa on the sidelines of the first Creative Africa Exchange weekend held in Kigali, Rwanda from the 16th-18th January 2020.

The Konga CEO was one of the speakers at the event which brought together over 1500 participants from 68 countries and over 250 exhibitors.

He disclosed that Konga’s omni-channel structure which sees it taking a percentage of the retail outlay in the online (formal) and offline (informal sector), self-owned tech-driven  logistics solution, Kxpress through which it handles deliveries to customers as well as external parties, state-of-the-art regional warehousing facilities which enables it retain inventory in diverse states and locations in Nigeria as well as sound knowledge of the Nigerian business terrain are factors that have placed the company in front.

‘‘Konga is best positioned as the leader in the Nigerian e-commerce market. We are not just an e-commerce company but we run an omni-channel model with over 30 physical stores spread across Nigeria. So, we are closest to the people. Also, we are seeing huge growth in the business and in our customer base. Between last year and this year, the business grew by almost eight times,’’ he enthused.

Equally important, the Harvard alumnus based the foregoing on Konga’s strategic business ideals. Prince Ekeh affirms that the company is run efficiently and with transparency and integrity.

‘‘The key is growing your revenue while being able to manage your costs. That is the only way for sustainable growth. In the last year, we have been able to grow revenue by eight times but we have also been able to reduce our costs by 65%. That is quite huge.’’

Sharing his thoughts on how Konga is creatively resolving the challenge of logistics which has hobbled other players in the market, Prince Ekeh noted that the company had relied on its deep understanding of the Nigerian terrain – a factor which he emphasized has distinguished Konga in the marketplace.

‘‘The starting point for us was identifying the problem. There is a huge problem in Nigeria where the informal market is so huge, so massive; in fact, almost 98% of the market. This means that people don’t have access to quality products; they don’t have access to quality after-sales services.

‘‘So, we identified this problem when we came into the market. What we hold ourselves on is integrity and making sure that we are supplying quality products and as quickly as possible. We had to look internally and invest in a logistics platform for ourselves. So, we built a logistics platform working with franchisees in local areas. If you understand the dynamics of local villages in Nigeria, most people know each other. As long as we had the name and the phone number of the person who requires the product, someone in the local village knows that person. So we partnered with local people and empowered them to deliver to the last mile for us.

‘‘Today, we have built Kxpress, our logistics platform, to the point where we are not only delivering for Konga but for other partners. That’s where you begin to add value because not only Konga has that problem. A lot of people have the same problem. People who sell on social media have that problem too. So, we are building a platform not just for ourselves but for the entire industry. With that, we are able to scale much quicker.’’

Quizzed by the CNN’s Eleni Giokos on Konga’s expansion plans, Prince Ekeh disclosed that the goal is to dominate Nigeria, which the company has all but achieved, before expanding to other African countries.

‘‘Nigeria is one of the largest markets in Africa. We are looking at consolidating in Nigeria and ensuring our customers get the best services and then rolling out across Africa. If you are able to scale to the point where you can solve a lot of the problems in Nigeria, it makes it easy to take on other markets outside Nigeria. Definitely, Nigeria is the focus for now. That’s where we started and that’s where we hope to scale and once that is done, we can begin to expand to other African markets.’’

Continuing, he stated: ‘‘We have a lot of things going on. We are also adding a lot of business units. We recently launched our travel business in February 2019 and also have a Central Bank of Nigeria-licensed mobile money platform called KongaPay. We also have KXpress, our logistics business. We are a platform and as a consumer, we want to connect you to all these different services we provide. We also plan to roll out a lot more services so that our customers stay within that platform as we continue to grow the customer base.’’

Incidentally, there has been a lot of talk about foreign players such as Amazon and Ali Baba eyeing a share of the potentially money-spinning Nigerian e-commerce market. However, Prince Ekeh welcomed the development, even as he held that no one understands the Nigerian market better than Konga.

‘‘I love the competition because the market is huge. Competition is good. It keeps you on your toes. I mean, Nigeria has over 200 million people and the informal market is still like 98%. That means, all the big players in the market are only sharing just like 2% of the potential of the industry. As the formal market grows, we also see the pie growing which means more revenue for all of us. I think the market can still accommodate more players.

‘‘I should know my market better than anyone else. The funny thing is, when the foreign players come into the market, they face exactly the same problems. They face the crazy Lagos traffic; they face the bad roads and bad infrastructure. So, we all have to face the same problems; which we have experienced all our lives, so it’s a bit easier to adapt and just like what we did with the logistics problems, it’s easier for us to find those innovative solutions,’’ he disclosed.

On how Konga is adding value and transforming lives, Ekeh took pride in giving others an opportunity like the one he was privileged to have.

‘‘Luckily, I was privileged to go to school abroad. I returned and I had access to funds. What keeps me up is how do I provide the same opportunity to people under me. In a way, I am doing that with Konga. I will give you an example. We have a seller that started off selling on our platform. She had a small shop in Balogun Market in Nigeria, which is a huge market, but like with very tiny shops. So, she was struggling at that point in time. She started selling on our platform and today, she has about 13 stores and her children now school outside the country. That’s huge and all we have done is just provide her a platform to sell her products. She has access to the whole of Nigeria.’’

Ekeh, who stated that Konga is a technology company, described Africa as the new frontier of prosperity in the 21st Century, even as he threw some light on the trends shaping commerce in the current age.

‘‘I think Africa has so much opportunities. It was Jack Ma who once said that Africa has the potential to become the next China but what we need is great minds to come in to the continent and invest in businesses and look for innovative ways to solve African problems.

‘‘When you look at Africa, we tend to skip trends. Africa skipped the Personal Computer trend and went straight to mobile. So, I feel like Africa might skip the e-commerce trend and go to social commerce. We see a lot of people buying products from Instagram, from Facebook, from various social platforms. And at Konga, our goal is not only to be an e-commerce platform. Our goal is to be an engine for commerce and trade in Africa. As much as our focus is e-commerce with physical stores, we are also venturing into social commerce. Anywhere we find our consumer, we try to play in that space as much as possible,’’ he concluded.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Report Reveals More than Half of Users Encountered Fraud or Scams Online

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More than half (56%) of Internet users faced fraud over the past year, and 45% became victims of attacks on their devices, accounts or data (social media accounts hacking, data leakage, malware infection etc.), according to a new global survey* by Kaspersky.

Scams are now more sophisticated than ever, and Kaspersky’s AI- and ML-powered technologies help users stay protected against fraudulent schemes. For greater confidence and clarity, these capabilities are now grouped into a dedicated block inside Windows and macOS apps.

The scam landscape continues to evolve rapidly, becoming more sophisticated and targeted, and attacks are increasingly powered by AI. Users can face potential threats in almost any type of online interaction: emails, messengers, social media, online shops or apps.

In Q1 2026 only, Kaspersky anti-phishing technologies blocked over 140M phishing and scam attempts, underscoring how pervasive this web threat has become.

Kaspersky experts highlight that scams are becoming more widespread, as almost every emerging trend or global event quickly becomes a foothold for fraudsters.

In March 2026, Kaspersky’s anti-phishing technologies detected rising scam activity around the 2026 World Cup, uncovering fraudulent resources that mimicked official tournament websites or exploited the event to lure users into unsafe interactions.

The same underlying approach, combining machine learning, pattern recognition and real-time threat analysis, also helps Kaspersky technologies detect a broader range of scam scenarios, from classic phishing pages to fake shops, crypto scams and other schemes that may lead to financial loss.

Scam campaigns now may be even fuelled by personal data stolen from breaches, infostealer malware, compromised accounts and other online exposures.

Fraudsters combine this information to craft targeted messages, impersonate trusted contacts or make their scams more convincing. Kaspersky Premium protects customers from various digital threats, reducing these risks across all devices, including smartphones, with protection technologies tailored to each platform and reinforced by AI- and ML-based detection.

These include Data Leak and Identity Theft checkers that warn users about potential exposure of personal information, Kaspersky Password Manager that helps keep credentials secure and unique, and behaviour-based protection technologies such as System Watcher, which uses advanced app behaviour monitoring and pattern recognition to detect signs of misuse or malicious activity in real time.

In Kaspersky apps for Windows and macOS, these capabilities are now brought together in a dedicated AI-powered Scam Protection block, making them easier for users to find and understand, while in mobile apps they continue to work in the background.

“AI-powered scams are a new reality. AI-generated, constantly increasing in volume and lurking everywhere, from fake ticket sites to impersonating friends on messengers, they can trick even the most experienced user. Relying on your own ability to spot a scam is not enough. That’s why we’ve integrated advanced AI detection directly into our products – so our technology can spot what the human eye can’t, and protect users in real time,” commented Marina Titova, Vice President for Consumer Business at Kaspersky.

New AI-labels mark the group of features that provides comprehensive protection from various web threats, allowing Windows and macOS users to find out how the solution secures every aspect of their digital interactions.


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Kaspersky Warns of The Gentlemen Ransomware Group Expanding Operations with New Malware

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New Kaspersky Global Research and Analysis Team (GReAT) research into the rapidly growing ransomware group known as The Gentlemen has showed that the attackers have evolved their tactics through new custom-built tools – a backdoor designed to facilitate information gathering before ransomware deployment and control over compromised systems, and a ransomware executable file.

The group has been active worldwide across industries including manufacturing, IT services, healthcare, financial services, construction, and logistics.

In its recent report Kaspersky shared an overview of ransomware trends: according to Kaspersky Security Network, in 2025 Latin America had the highest share of organisations with ransomware attacks detected (8.13%), followed by the Asia-Pacific region (7.89%), Africa (7.62%), Middle East (7.27%), the Commonwealth of Independent States (CIS, 5.91%) and Europe (3.82%).

The Gentlemen is a rapidly expanding Ransomware-as-a-Service (RaaS) operation believed to have emerged around mid-2025. The Gentlemen and its affiliates primarily gain initial access to victim systems through the exploitation of Internet-facing services and compromised credentials.

The attackers may be seeking collaboration with Initial Access Brokers (IABs) to acquire access to organisations with valuable intellectual property with minimal effort. Kaspersky found that access to some victim systems, using techniques the group does not typically employ, occurred long before the ransomware infection. This may mean that the initial access was not carried out by The Gentlemen, but rather by another threat actor, possibly an IAB.

Unlike many RaaS groups, The Gentlemen demonstrates a high level of sophistication, employing custom tooling and flexible intrusion tactics. Kaspersky researchers identified a previously unknown, custom-developed backdoor written in Go deployed by the attackers one day before ransomware execution.

The implant gathers host and network information and hides its console window to avoid detection. Its capabilities include bidirectional communications with the attackers, server-controlled command execution, and reconnaissance, enabling attackers to extend and adapt their activity within a compromised environment.

Kaspersky also found a new ransomware variant written in C affecting a limited number of corporate victims. While The Gentlemen has primarily used a ransomware implant written in Go that was designed for cross-platform use, the new C-based variant appears to be Windows-focused. The group may be testing the malware in real victim environments as it expands its technical arsenal.

Notably, in their attacks the Gentlemen attempted to remove the Kaspersky security solution by utilising kavrmvr.exe (a tool designed to remove Kaspersky products). However, the Kaspersky solution remained active, and the move by the attackers was blocked and flagged as malicious.

“Despite being a relatively recent entrant to the ransomware threat landscape, The Gentlemen group is rapidly gaining a reputation among threat actors, attracting affiliates and executing high-profile attacks.

“The testing of the new C-based ransomware variants suggests that the group is actively refining its capabilities, which may translate into more stable and scalable attack chains in the near future.

“Organisations should anticipate further malicious ransomware activity and are strongly advised to prioritise vulnerability management and system hardening processes to mitigate the risk of compromise,” said Fatih Sensoy, security expert at Kaspersky GReAT.


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Kaspersky Reveals Malware Attacks on SMBs Disguised as AI Services Surged by Five Times in 2026

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From January to April 2026, Kaspersky security solutions detected more than 33,300 attacks on small and medium-sized businesses (SMBs), in which malicious or unwanted software for PCs were disguised as popular artificial intelligence (AI) services. This number has surged by almost five times when compared to the same period in 2025.

A new Kaspersky report reveals threat analysis and mitigation strategies to help SMBs protect themselves against the evolving threat landscape.

Kaspersky experts explored the extent to which threat actors target small and medium-sized businesses with malware disguised as legitimate AI services, considering the growing popularity of such tools for the business workflow. At the beginning of 2026 the most common lures in cyberattacks involved malware posing as ChatGPT (42%), Claude (24%), and DeepSeek (20%).

Among unique malicious files detected in the SMB sector and masqueraded as AI services, Kaspersky experts observed mainly different Trojware (Trojans and Trojan-like malware), including those capable of downloading and running other malware on compromised devices.

Trojware disguises itself as harmless files to trick users into installing them. Their functionality may vary depending on the type of the malware. It may include stealing, deleting, blocking, modifying or copying users’ data, as well as other malicious capabilities. Given this, Trojware represents a highly dangerous cyberthreat to entrepreneurs and businesses.

However, in 2026 Kaspersky telemetry detected even more attacks on SMBs, in which malicious or unwanted software for PCs were disguised as messenger apps and video conferencing software: Telegram, WhatsApp, Zoom and Microsoft Teams. From January to April Kaspersky solutions blocked almost 415,000 such attacks.

The number of attacks changed marginally compared to the previous year’s figures. Thus, Kaspersky experts note that the lure of fake communication apps remains a widespread cyberthreat.

“The threat landscape is evolving with new lures constantly appearing. For example, for the first four months of this year our solutions for small and medium-sized businesses detected hundreds of attacks, in which malicious or unwanted software were disguised as OpenClaw – an AI tool that rapidly gains popularity in 2026.

Corporate employees are increasingly using various AI services and other tools in their workflows, including those that are publicly available. Thus, to be on the safe side, SMB employees – as well as all users – should exercise caution when looking for software on the Internet. Always check the correct spelling of the website and links in suspicious emails, and use robust security solutions,” says Vasily Kolesnikov, security expert at Kaspersky.

“As adversaries constantly refine their methods to exploit human error, the need for up-to-date security awareness training for businesses of all kinds and sizes is undeniable. However, the reality is that micro-organisations often struggle to allocate time and budget to regularly update their staff on the latest threats and malicious trends.

“We believe this issue can be largely addressed through solutions tailored for small businesses which deliver robust core protection while also providing accessible security education,” adds Rodion Pyanov, product manager, Kaspersky Small Office Security.

 


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