Leading Nigerian classifieds marketplace, Jiji – has reached an agreement to redirect global online marketplace, OLX users in Nigeria to its platform following an acquisition of OLX’s businesses in four other countries.
Jiji and OLX announced that both companies have reached an agreement under which Jiji will acquire OLX businesses in Ghana, Kenya, Tanzania, and Uganda, pending regulatory approvals.
The agreement will allow OLX users in these countries, benefit from Jiji’s products and services. OLX ‘s reach, combined with Jiji’s proprietary search and delivery algorithms, proposes a beneficial arrangement, giving users a radically streamlined experience and making the buying and selling process more convenient.
OLX, owned by global consumer internet group, Naspers came into the market 4 years earlier than Jiji with robust operational and marketing budgets. Earlier in February 2018, OLX announced a decision to shut down its Africa offices except one in South Africa while running remotely.
Anton Volyansky, CEO and co-founder of Jiji commented: “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”.
Yuliy Shenfeld, Jiji Nigeria’s country manager, says “This acquisition is the next step to fulfil our promise in making the Nigerian economy thrive by helping each and every Nigerian take their business online. So far, thanks to Jiji, more than 300,000 businesses have increased their sales and improved their family fortunes. This was made possible by millions of customers who placed their trust in Jiji for the best prices and the widest range of products and services. In the wake of this transaction, the Jiji team of more than 500 people is excited to build a truly Pan-African classifieds empire with Nigeria being the epicenter”.
Following closing of transaction’s completion, all users of OLX Nigeria, OLX Ghana, OLX Kenya, OLX Tanzania, and OLX Uganda will be redirected to Jiji.