OLX is an online marketplace, and they are popularly known as the best place to buy and sell anything online. And fortunately, the online platform has gained prominence in Kenya.
Anyways, OLX will now be bought by a leading online marketplace from Nigeria, Jiji. According to Wiki, OLX Group is a global online marketplace, founded in 2006 and operating in 45 countries.
The OLX marketplace is a platform for buying and selling services and goods such as electronics, fashion items, furniture, household goods, cars and bikes.
In Nigeria and Kenya, the online marketplace is just a portal, where users can buy and sell anything online. Although, they’ve successfully locked and closed down their services in Nigeria, starting from 6th of Feb.
However, JiJi is close to acquiring the agreement, as it is pending regulatory approval. Automatically, making them to acquire the Nasper’s owned OLX subsidiary, which includes OLX Nigeria, OLX Ghana, OLX Kenya, OLX Tanzania and OLD Uganda.
When the deal is finally closed, and both parties come to final decision and agreement, then all this mentioned sisters websites will now be redirected to Jiji automatically.
Anton Volyansky, Jiji’s co-founder and CEO was quoted saying “We extend the warmest welcome to OLX’s users to Jiji and look forward to transforming the online retail experience in Africa as the region continues to transform itself economically and technologically,”
“With our focus on accelerating the growth of other markets, now is an opportune time to sell our interests in these markets,” OLX’s GM for MEA said. “We are pleased that Jiji will continue to provide exceptional quality of products and services that the customers in these countries have come to know and enjoy from OLX.”
Anyways, if the agreement is completely accomplished, then Jiji will be the leading marketplace, controlling a user base of just over eight million unique monthly active users and serves a combined population of over 300 million people.
Jiji is Nigeria’s foremost online marketplace that provides thousands of buyers and sellers with an avenue to meet and exchange goods and services. And they have one of the biggest deal in Nigerian e-commerce with more than 6 million unique active users and 50,000 sellers who have listed more than 1 million items in the country.
OLX isn’t the first company to experience this failure, Zoto, Fero mobile, Dealdey and many others are done for Africans, especially Nigeria. Unlike others, we aren’t sure of the actual reason why they decided to leave.