Online market platforms- Jiji and OLX, on Wednesday, April 17, 2019, announced an agreement under which Jiji will acquire OLX businesses in Ghana, Kenya, Tanzania, and Uganda, pending certain regulatory approvals.
As part of the deal, OLX users in Nigeria will be redirected to Jiji.
The agreement, according to a statement, will allow OLX users in the four countries to benefit from Jiji’s market-leading products and services and that the reach of OLX, when combined with “Jiji’s 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.”
The statement quoted Anton Volyansky, Chief Executive and co-founder of Jiji as warmly welcoming OLX’s customers to the Jiji family while looking “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”.
For Yuliy Shenfeld, Jiji Nigeria’s country manager, “this acquisition is the next step to fulfill 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.”
SjoerdNikkelen, General Manager of OLX in Africa, Middle East, and Asia also expressed pride at the company’s “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.”
Following the closing of the transaction, the Jiji team will expectedly strive to make the transfer seamless and to provide a high-quality user experience across all geographies, even as Jiji look forward to increasing its workforce.