Business

Jiji acquires OLX Nigeria

Fast-growing online classified marketplace, Jiji.ng has acquired OLX in Nigeria and four other African countries.

Joining Jiji’s family will allow OLX users in these countries to benefit from its market- products and services. It is expected that OLX reach, combined with Jiji’s own proprietary search and delivery algorithms, will create a beneficial combination, giving users a radically streamlined experience and making the buying and selling process more convenient.

According to a statement issued by Naspers on the acquisition, both companies have also reached an agreement to acquire the other OLX businesses in Ghana, Kenya, Tanzania, and Uganda, subject to regulatory approvals.

After concluding the deal, it said all users of the sell-and-buy classifieds websites of OLX Nigeria, OLX Ghana, OLX Kenya, OLX Tanzania, and OLX Uganda would be redirected to Jiji.

It added that joining Jiji’s family would allow OLX users in these countries to benefit from Jiji’s market-leading products and services.

The Chief Executive Officer and co-founder of Jiji, Anton Volyansky, said, “Users will always come first for us. We warmly welcome OLX’s customers to the Jiji family and we look forward to our new customers joining Jiji on its journey to empower the lives of its customers by providing a safer, more secure and enjoyable online shopping experience.”

Speaking in the same vein, the Board Director and Co-founder of Jiji, Vladimir Mnogoletniy, added: “We believe that this transaction is pivotal for Jiji’s business. With this transaction, we plan to build the largest Africa-based classifieds business, creating a new experience for Africa’s fastest-developing countries and their combined population of 300 million. We firmly believe that in the next two to three years, ours will be one of the top 10 classifieds businesses in the world by traffic.”

OLX closed its business in Nigeria last year February but maintained its online marketplace while laying off workers, as part of the process to consolidate its operations in the country.

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