Jiji.ng Acquires OLX

Popular classifieds marketplace, Jiji.ng has signed agreement with another ailing classified platform OLX, to redirect its Nigerian users to Jiji.ng in a business deal involving acquiring OLX businesses in four other countries.

Jiji said this deal will see it building a leading pan-African classifieds business. According to the agreement, Jiji will acquire OLX businesses in Ghana, Kenya, Tanzania, and Uganda, pending certain regulatory approvals, and OLX users in Nigeria will be redirected to Jiji. CEO and co-founder of Jiji, Anton Volyansky, said that joining Jiji’s family will allow OLX users in these countries to benefit from its market-leading products and services. 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.

“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 their lives by providing a safer, more secure and enjoyable online shopping experience”.

The company’s Nigeria country manager, Yuliy Shenfeld, added that “this acquisition is the next step in fulfilling our promise of making the Nigerian economy thrive by helping each and every Nigerian have their businesses online. Thanks to Jiji, more than 300,000 businesses have increased their sales and improved their family fortunes, so far.

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 epicentre.”

General Manager of OLX in Africa, Middle East and Asia, Sjoerd Nikkelen, said: “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 customers in these countries have come to know and enjoy from OLX.”