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Finally The IrokoTV boss, Jason Njoku has finally disclosed why Konga’s founder, Simdul Shagaya decided to sell the Iroko TV to Zinox
Jason has vehemently reproved all rumors that claims that Konga was sold put out for sale to Zinox due to mismanagement, theft and criminality. He said it is just time for Sim Shagaya to throw in the towel and let go of his childbrain.
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He said:
“One day, Sim will share the true happenings of what really went down at Konga. I know more than most, but it’s not my story to share.”
“For now, let’s leave it to the Twitter economists and experts to rake over the supposed smouldering corpse which is, to many the dreams, of Konga – Nigeria’s online shopping Mall.
“To my mind, he (and Shola after him), did everything they could. Most will never know the pressures they were under. Most would never truly understand the demands and sacrifices they had to make in order to keep Konga alive.”
He explained how Konga got stressed and was eventually sold to Zinox
“Nigeria Inc is poorer now in my opinion. When companies in Nigeria fail, it’s usually because of basic criminality and theft. The captain never goes down with the ship. Let me be clear. Sim+Shola ‘went down’ with their ship. I would say 95% of his material wealth was tied up in Konga.”
“As for criminality + theft? That wasn’t the case at Konga. No doubt they had internal and external fraud problems. It’s Nigeria. I’m sure, as I look around at IROKO, someone is trying to steal from me right now. But there was aggressive market development.
“There was overspending on everything because that’s what they felt they needed to do to ‘win this market’. There was no sense of impropriety. They gave it their best and the market, this fucking horrendously difficult market Nigeria, this market which turns dreams to ashes daily, just wouldn’t yield.”
“It was never about cash. Jumia has cash. All they are doing is burning more of it. The market is pushing back any effort of rationalisation. It may be untameable. I am 100% sure if I hadn’t ignored Nigeria for first 5 years of IROKOtv’s life, we would probably be dead. In fact, IROKOtv should have died in 2015.”
Sim Shagaya, Konga’s Founder, Dream For Nigeria Failed
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As he didn’t achieve any of his stated goals, he’s currently facing a hard time:
“Sim is heartbroken, I am sure. If there was someone who deeply and truly cares about Nigeria, it is Sim. He came back to make a difference. To build a New New Nigeria through commerce.”
This is really not a favourable incidence but we hope the future holds something better installed for this brand......
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