Shola Adekoya, the CEO of Nigeria's once-promising e-commerce startup, Konga, has announced his resignation from the company. This was made public in a tweet where he wished the incoming CEO, Nick, "all the best" as he joins "the Konga Alumni."
Shola Adekoya joined Konga as the Chief Financial Officer (CFO) in July 2013 before taking over as CEO from Sim Shagaya, the founder.
Prior to joining Konga, Shola was in charge of Financial Planning and Budgeting at Etisalat Nigeria - a Nigerian telecom operator which changed its name to 9Mobile.
Over to you Nick. Wishing you and @shopkonga all the best as I join the Konga Alumni. Thanks to all the current and ex-Konga staff that gave me their best towards building a great Konga while I was at the helm of affairs
— Shola Adekoya (@Sholaextra) March 28, 2018
Nick Imudia will take over from Shola. Though, at a time when Konga is weathering storm after storm. Since mid-2017, the company has had to withstand tough times from layoffs, pivoting the business model to an underwhelming acquisition.
It is rumoured that the company was acquired by Zinox for a figure in the region of $10 Million. Given that Konga had raised over $108 Million in funding from both Naspers and Kinnevik, many weren't happy with the acquisition.
Earlier this month, Zinox appointed Olusiji Ijogun as its new Chairman. He replaced Sim Shagaya, who stepped down after the acquisition.