One of Nigeria's foremost tech entrepreneurs, Sim Shagaya, today announced he is stepping down as the Chief Executive Officer of Nigerian e-commerce platform Konga.com

In an email announcement to staff, Shagaya said he will be replaced by Shola Adekoya, the company's Chief Operating Officer who will serve as acting CEO until a full-time replacement is appointed by the company's board of directors.

Shagaya said the decision to resign as Konga's CEO was reached during his recent visit with the company's investors in Amsterdam.

According to him, the investors have appointed him as the chairman of the e-commerce company's board of directors.

This development means he will not be as actively involved in the company's daily operations as he has been as CEO. Instead, Shagaya said he will be more involved in product development guidance, mentoring the management team and shaping company culture.

When asked what is next for Konga, Shagaya said: "Strategy, culture, mentorship. For me, sleep, yoga, teach and learn to see the world with curious childlike eyes again."

Shagaya launched Konga.com in 2012 and the company has been able to raise several rounds of investments from various investors including Naspers. "Today Konga does not look at competition. We don't look to our sides. We look to our front. We are in uncharted territory," Shagaya said late last year.