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Konga Hits 1440% YoY, 500% Increase in Online Revenue

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Sim Shagaya, founder of a leading online retail chain in Nigeria- Konga
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Konga.com further cemented its position as Nigeria’s largest online mall as it successfully delivered Nigeria’s biggest online shopping day with its version of the Global Black Friday sales tagged ‘Yakata’, 1440% increase in revenue.

Yakata, a Nigerian colloquial term meaning “final” or “completely.” Konga’s Yakata sales started on Thursday and ended by midnight on Black Friday giving shoppers more time to shop.

Konga’s Yakata sales pioneered and localized the concept of Black Friday in the Nigerian ecommerce industry.

The first edition held in 2013 and was a big success.  However, the 2014 sales delivered even more outstanding results.

On Friday, Konga said it saw a record breaking 1440% year on year increase in online revenue.

Mr. Sim Shgaya, CEO and founder of Konga.com, disclosed that at its peak, Konga was processing N50 million worth of orders every hour and that Konga sold 500% more items in the two days of Yakata than it did in all of 2012.

The successes for Yakata came behind a lot of hard work on the part of Konga.com.

Over the last 1 year, the company made the strategic decision to invest heavily in technology and other operational infrastructure.

A very different strategy from that of other Nigerian ecommerce companies who have focused more on advertising.

The company focused on enhancing its website and other operating systems.

Another key move by the company was the creation of its own logistics and delivery arm called KExpress which now ensures that the company can continue to efficiently deliver the growing number of orders it receives every day.

Konga.com also opened up its marketplace to small and medium business owners in the course of the year.

Today, Konga’s marketplace platform boasts of thousands of SME owners who have stores and are actively trading on the site.

Konga’s Seller HQ currently has more than double the number of products available on the site of its closest competitor, a statement from the Online Retailer read.

The choices Konga.com has made in the past one year have clearly been the right ones.

Unlike its closest online retailer competitor, the Konga.com website experienced no down-time during the Yakata sales, despite the incredible number of concurrent visits to the site during that period.

The 2014 sales was record breaking for Konga across different metrics.

According to Shagaya, “We received thousands of orders within the first few hours of launching Yakata. The orders poured in from virtually every state in Nigeria and interestingly from several other countries as well”.

Following the Yakata sale, almost 100,000 items are now being shipped all over Nigeria.

Further remarking on the growth of Ecommerce in Nigeria, Shagaya said, “Over 40% of the people who shopped had never bought online before. With a significant part of Konga’s orders generated from mobile devices it shows that Ecommerce is really growing fast in Nigeria and it is a clear pointer that mobile is the way Nigerians will shop online in the future.

Shagaya expressed deep gratitude to all customers that took part in the Yakata Sales saying, “Because of our customers, Konga and many small and medium size retailers that sell on our platform witnessed sales volumes that were simply staggering. We, as a people, have made a great leap forward towards the development of e-commerce in Nigeria and larger Africa”.

Some of the hottest deals recorded during the period were Haier Thermocool 3KVA remote control generator which sold at a remarkable N53, 750 at a discount of almost 60 percent; and the Lenovo A3300 Tablet which sold at N18, 000 instead of N30, 000.


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E-Business

CBN Affirms Alpha Morgan Bank’s Capitalisation

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The Central Bank of Nigeria (CBN) has affirmed the capitalisation of Alpha Morgan Bank, marking an important milestone in the bank’s growth journey and reinforcing its commitment to building a strong, resilient, and future-ready financial institution.

This affirmation reflects the bank’s adherence to regulatory requirements and its strategic focus on strengthening its capital base to support sustainable growth, innovation and improved service delivery to customers.

With this milestone, Alpha Morgan Bank is well positioned to continue expanding its footprint with its 14 approved branches across different states, while deepening inclusivity and enhancing the range of banking solutions available to individuals, businesses, and institutional clients nationwide.

Commenting on the development, the Managing Director of Alpha Morgan Bank, Mr. Ade Buraimo, expressed the readiness of the bank in ensuring compliance with regulatory requirement, good governance framework while delivering satisfying banking along the long-term vision of the bank to become the best bank to work and strong financial institution to reckon with.

He said: “Capitalisation is more than a regulatory requirement; it is an opportunity to strengthen the institution for the future. The affirmation of Alpha Morgan Bank capitalisation reflects the work we have done to build a solid capital foundation that allows us to support businesses more effectively, expand financial access and continue delivering the level of service our customers expect.’’

According to him, Alpha Morgan Bank remains committed to maintaining strong corporate governance standards, sound risk management practices, and prudent financial management as it continues to support economic development and create long-term value for stakeholders.

“As Alpha Morgan Bank enters the next phase of its journey, the institution will continue to scale its operation, invest in technology, expand its branch network and digital banking presence, whilst delivering reliable and satisfying banking experiences to its growing customer base,” Buraimo added.


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Police Says Victims Enable Cyber Attacks Out of Ignorance

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Mr Uche Ifeanyi, commissioner of Police in charge of the Nigeria Police Force National Cyber Crime Centre (NPF-NCCC),  said on Friday that most cyber attacks occur because victims act out of ignorance.

Police Says Victims Enable Cyber Attacks Out of Ignorance

He spoke in Abuja at the opening of an online cybercrime awareness campaign themed “Odogwu No Dey Hide Him Face,” organised to educate and empower communities about online safety and cyber hygiene.

“Studies reveal that the majority of cyber attacks are initiated or enabled by victims due to lack of knowledge.

“Personal information is invaluable and must be protected at all times.

“Just as we maintain physical health, we must also maintain a healthy digital lifestyle,” he added, stressing that simple cyber hygiene practices could greatly reduce the risk of becoming a victim.

He urged the public not to disclose confidential information to unauthorised persons and to use strong, unique passwords, enable multi-factor authentication, and apply security safeguards on digital devices.

“Keep personal information private, avoid suspicious links, and regularly update software or system patches,” he said, adding that antivirus programmes and firewalls were essential for online safety.

Ifeanyi warned against falling for “free gifts” online.

“If it sounds too good to be true, it most likely is fraud,” he said, advising caution with urgent or suspicious messages.

He also urged internet users to verify information before sharing to avoid spreading fake news, emphasising that cybercriminals could exploit everyone regardless of age, occupation, or social class.

Vincent Olatunji, director-general, National Data Protection Commission (NDPC), commended NPF-NCCC for its efforts and said the campaign theme was commendable.

He noted the importance of educating people on legitimate wealth and safe internet use.

Olatunji said that the fight against cybercrime required collective effort, warning that the risks were increasing daily as more people connected to the internet across Nigeria.


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Firm Enhances its Security Awareness Platform with SCORM and PDF Support

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Kaspersky has introduced an update to its Automated Security Awareness Platform, adding full support for PDF and SCORM (Sharable Content Object Reference Model) – the industry-standard protocol for deploying and managing e-learning content.

The enhancement enables organisations to build fully customised cybersecurity training programmes that reflect their infrastructure, risk profile, and internal policies, while continuing to benefit from Kaspersky’s expert-driven security content and phishing simulations.

According to the Kaspersky report titled “Redefining the Human Factor in Cybersecurity”, employees responding to phishing attacks was one of the main causes of cyber incidents in companies worldwide, accounting for 21% of cases among other reasons.

At the same time, additional Kaspersky research reveals that social engineering attacks are predicted to increase more than any other type in the nearest future, with 87% of respondents believing that social engineering attacks will become even more effective due to the use of AI tools.

The new Kaspersky Automated Security Awareness Platform (Kaspersky ASAP) update directly addresses several persistent challenges such as reducing the number of human-related incidents, cutting time spent on managing training programmes, decreasing regulatory and compliance risks, and minimising potential legal or reputational damage stemming from cybersecurity breaches.

With the new SCORM support, the platform becomes even more flexible: companies can now upload, track, and manage their own SCORM-based learning materials directly within the system. In addition, companies can accelerate their programmes by using easier-to-create PDF-formats.

This allows organisations to tailor training to their specific technology stacks and emerging threats targeting their industry or region. Businesses that have already invested in third-party SCORM courses or internal learning development can now seamlessly reuse their existing modules, protecting their prior investments while strengthening their cybersecurity posture.

The combination of Kaspersky’s embedded content built on real cases uncovered by the company’s world-class experts with customers’ PDF materials or SCORM modules enables a true best-of-breed approach to human risk management.

Organisations can supplement Kaspersky’s up-to-date cyberattack scenarios with internal policies, unique workflows, and industry-specific lessons, ensuring training resonates with employees and reflects real operational challenges.

“Human behaviour remains one of the most unpredictable elements in cybersecurity and also one of the easiest for attackers to exploit. By adding SCORM support to Kaspersky Automated Security Awareness Platform, we’re giving organisations the flexibility to build training programmes that truly match their internal realities.

“Combined with Kaspersky’s expert-driven content and real-world attack data, this update empowers companies to create more adaptive, relevant, and impactful awareness programmes than ever before,” comments Svetlana Kalashnikova, Security Awareness expert at Kaspersky.


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