Sim Shagaya, founder and CEO of Nigerian e-commerce giant,, 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.

In a mail sent to Konga staff, Shagaya said the development came following a visit to the company’s investors in Amsterdam.

For now, Shola Adekoya, Chief Operating Officer at Konga, will take over as the interim CEO, till the board appoints completes its search and appoints a new CEO.

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In his new rolle, Shagaya will become less involved in the day-to-day 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.

According to mail, Shagaya said the decision to take up the Chairmanship position at the company is to better effect the company’s long term goals and vision.

Sim Shagaya founded Konga back in 2012 and it has since grown to become a major player in the Nigerian tech and e-commerce industry.