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Konga.com Creates Platform to Sell Anything Online

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Konga.com, Nigeria’s Largest Online Mall has opened up of its trading platform for all Nigerians to sell online, marking a turning point for Nigerian businesses- roadside, small, medium and large.

Konga which only last year announced the launch of Konga Mall, a revolutionary offering which gave select Nigerian businesses the opportunity to put their products online is finally opening up this opportunity for all classes of businesses in Nigeria.

To be a part of this revolution and receive valuable information, everyone can simply visit http://konga.com/sell to pre-register.

Regular information on how to maximise the opportunity, processing and validation will be done on the Konga platform in the weeks leading up to the big launch.

This new offering which will be launching in the coming weeks will cater to the needs of not only big wholesalers/ retailers, but even the road side/ market traders in Surulere, Alaba, Aba, Onitsha, Kaduna, as well as enterprising individuals across the country with amazing products but no hope of expansion or scaling.

This marketplace will revolutionise the way buyers and sellers interact, with a model that is more convenient for the seller and more attractive to the buyer.

It will create unlimited opportunity for the Nigerian entrepreneur, small business owner or even large business owner; it will serve as the great equaliser/nation builder, boosting employment, trade and powering economic growth and development in Nigeria.

Konga has already changed the rules of participating in e-commerce in Nigeria through several novel offerings to customers, major investments in infrastructure and widespread education on the merits and convenience of online retail.

Now Konga is building a marketplace that will exponentially drive the adoption of e-commerce in the country through unrestricted yet structured participation, as well as novel platform security measures and guarantees that ensure buyer and seller are protected and rewarded for participating.

Maxitech, a computer and electronics dealer based in Lagos who has benefited from the earlier launched Konga Mall had this to say;

“I have been selling computers for a number of years now in Lagos and to customers in neighboring cities, but i must admit that what Konga.com has been able to do for my business is increase my sales portfolio not only locally but nationwide

E-commerce in Nigeria is definitely the future and i am happy that Konga is not only growing at a tremendous pace but is also helping Nigerian Businesses grow as well” Sim Shagaya, CEO of Konga.com had this to say about the new platform;

“About a year ago, we realised that for our services to be really valuable to society, we had to build a platform for anyone, not just Konga, to sell and prosper. We launched this platform to a limited number of sellers and in that time, we have learned how to build a truly revolutionary Nigerian online marketplace.

Today we are pleased to invite all Nigerian businesses – great or small, designer or farmer, producer or trader, sole proprietorship or limited liability,  – to sign up to this new platform – Konga Marketplace.

We will be opening up in the next few weeks and we think you will be pleasantly surprised by what we have built”

The internet is changing retail around the world, and the winners will be those that embrace the internet revolution. 

Konga.com will provide the tools, awareness and security for entrepreneurs and businesses across Nigeria who want to benefit from the immense benefits of expanding their businesses online.


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

E-Financial

Lagos State Appoints MoneyMaster as Payment Partner for “Ounje Eko” Programme

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“Ounje Eko”, the food price discount initiative of the Lagos State Government, has appointed leading payment service bank, MoneyMaster Payment Service Bank Limited (MMPSB), as its collaborator in the bid to ensure ease of payments at the market.

MoneyMaster is one of the Central Bank of Nigeria-licensed Payment Service Banks (PSBs) to promote financial inclusion across Nigeria.

Under the partnership, MMPSB will apply its cutting-edge payment solution to engender easy payment and reconciliation in order to make   the experiences of Lagosians who will be getting their food supplies from the markets pleasurable. Its payment solution is also all-encompassing and ensures real time value to payment destinations.

The mobile bank was appointed as the collection and payment partner for “Ounje Eko” Food Markets programme which is a government initiative serving the five divisions of Lagos State. Consequent on this, MoneyMaster Payment Service Bank will collect payments in 57 LCDAs in the state.

The partnership gives credence to the quality of payment solutions that MoneyMaster is reputed for in its services to its growing business clientele in private and public sectors.

 


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E-Financial

CBN, EFCC Probe Banks, Firms over Alleged Forex Racketeering

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Central Bank of Nigeria (CBN), is investigating irregular foreign exchange transactions and forward contracts valued at approximately $2.4 billion.

CBN, EFCC Probe Banks, Firms over Alleged Forex Racketeering

The  inquiry follows an extensive audit by Deloitte, which scrutinized $7 billion in dollar debts accumulated under the bank’s previous leadership.

In the aftermath of the 294th Monetary Policy Committee meeting in Abuja, Yemi Cardoso, governor of CBN,  disclosed to journalists that the investigation, supported by the Economic and Financial Crimes Commission, among other security bodies, aims to clarify the legitimacy of these FX allocations identified as problematic by the audit.

“It was determined that a number of these transactions did not qualify…they were outright illegal. The law enforcement agencies are now looking into those transactions that as far as we are concerned, are not valid to be paid,” Cardoso detailed, emphasizing the unlawful nature of these forex deals.

The crux of the investigation lies in the audit findings that a significant portion of the scrutinized transactions lacked proper documentation and, in many instances, were deemed outright illegal.

However, the unfolding investigation has raised concerns within the organized private sector, with some entities contemplating legal action against commercial banks for unresolved forex bids.

Despite these tensions, Governor Cardoso reassures that the foreign exchange market remains open and transparent, inviting stakeholders to address their forex needs through the official channels.

Furthermore, Cardoso clarified the distribution of fertilizers to farmers as a one-off measure and not indicative of a shift back to direct interventions by the CBN, underscoring a commitment to strategic, regulatory governance rather than direct market involvement.

 

 

 

 

 

 

 

 


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E-Financial

CBN Urges Banks to Expedite Action on Recapitalisation

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Central Bank of Nigeria (CBN) has directed deposit money banks in the country to expedite action to increase their capital base from the current ₦25bn.

CBN Urges Banks to Expedite Action on Recapitalisation

Olayemi Cardoso, governor of CBN

Olayemi Cardoso, governor of CBN, stated this during the apex bank’s 294th meeting of the Monetary Policy Committee (MPC) on Tuesday in Abuja, when the MPC hiked the interest rate by 22.75% to 24.75%.

The apex bank chief said the MPC examined developments in the banking sector and expressed satisfaction that the industry remained stable. The committee, however, said to guard against risk, commercial banks in the country should accelerate their recapitalisation efforts.

Cardoso said, “The MPC also reviewed developments in the banking system and noted that the industry remains safe, sound, and stable. The committee thus called on the bank to sustain its surveillance and ensure compliance of banks with existing regulatory and macro-potential guidelines.

“The MPC also enjoined the banks to expedite actions on the recapitalisation of banks to strengthen the system against potential risks in an increasingly globalised world.”

 

 

 

 


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