Jiji, Nigeria’s largest classified marketplace has reached an agreement with OLX to acquire OLX businesses in Ghana, Kenya, Tanzania, and Uganda, pending certain regulatory approvals. The deal will also involve OLX users in Nigeria being redirected to Jiji.
The transaction is backed by one of Jiji’s cornerstone investors, Digital Spring Ventures.
OLX’s 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.
By joining Jiji’s family, OLX users in these countries will also benefit from Jiji’s market-leading products and services.
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”.
“We are proud of our achievements in Africa, including the sustainable businesses we have built in Nigeria, Ghana, Kenya, Tanzania, and Uganda. We continually evaluate our portfolio of classifieds businesses to ensure a disciplined approach to how and where we allocate capital and management time.”
“With our focus on accelerating the growth of other markets, now is an opportune time to sell our interests in these markets. We are pleased that Jiji will continue to provide the exceptional quality of products and services that the customers in these countries have come to know and enjoy from OLX,” said Sjoerd Nikkelen, General Manager of OLX in Africa, Middle East and Asia.
Once the regulatory approvals have been obtained and transaction completed all users of the sell-and-buy classifieds websites of OLX Nigeria, OLX Ghana, OLX Kenya, OLX Tanzania, and OLX Uganda will be redirected to Jiji.