It will come as a surprise to many — especially Sim Shagaya fans — to learn that Sim Shagaya, founder and Chief Executive Officer of Nigerian eCommerce giant, Konga has resigned from his post as the CEO of the company he founded in 2012, after being appointed as the new chairman by the Board of Directors.
This development does not spell any doom for the giant company as Sim Shagaya himself watered down any fear by explaining in a mail sent to Konga staff, that this came following a visit to the company’s investors in Amsterdam. In his new role, Sim will become less involved in the daily running of the company and focus more on the long term vision and strategy of the company, product development guidance (with emphasis on KongaPay), mentoring senior management, shaping the culture of the company, and interfacing with key stakeholders including investors and the government.
Shola Adekoya, Chief Operating Officer at Konga, will take over as the interim CEO in his stead for now, pending the board’s search and appointment of a new CEO. While everything looks smooth from within the organisation, we’d keep our fingers crossed and watch how things unfold in the nearest future.
Nigerian startups raised $17.6m in Q1 2019, 8.5% higher than they did in Q1 2018. Find out more in the latest quarterly edition of the Nigerian Startup Funding Report here.
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