After more than a year of leading Nigeria’s e-commerce platform, Konga, CEO, Shola Adekoya on Wednesday, March 28, 2018, announced his resignation from the company. Shola disclosed this in a tweet from his handle on Twitter. The tweet contains no possible indication of his resignation.
Shola succeeded founder and former CEO Jim Shagaya, who resigned in January 2016. It is unclear who will take over the position, although reference was made to Nick from the ex-CEO’s tweet.
Launched in 2012 Konga has struggled to increase its market share due to solid competition from Jumia, another e-commerce startup. Although Konga has raised over USD 75 Mn from investors including Kinnevik, a Swedish investment firm, and Naspers, Africa’s most valuable company.
There have been speculations that Konga’s acquisition by Zinox Group may have led to a leadership shakeup. Quartz reported that in November 2016 Konga sacked over 300 members of staff—around 60% of its total workforce.