Investors and entrepreneurs have eagerly anticipated the potential of e-commerce in Africa, where an increasingly young, digitally-savvy population is hungry for consumer options and connections to the global economy. Zinox Group, owner of more recent Nigerian ecommerce entrant Yudala, acquired Konga, a leading online retailer in Nigeria, for an unpublished sum. The sale is rumored to be at a substantial discount to the estimated$385 million valuation reported by investor Naspers in 2016, and underscores ...
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Added February 12, 2018