OLX Ghana, one of the biggest online market classified ads and a member of the OLX Group is being sold to Jiji, one of the largest classifieds marketplaces in Nigeria.
OLX Group announced that both companies have arrived at an agreement for Jiji to take over OLX. From the agreement, the OLX businesses in Ghana, Kenya, Tanzania, and Uganda will be controlled fully by Nigeria’s own Jiji.
The only thing the two companies are waiting on is regulatory approvals. OLX users in Nigeria will also be redirected Jiji when everything goes through. Digital Spring Ventures, one of the cornerstone investors of Jiji is behind this move.
The acquisition of OLX by Jiji will give OLX users in countries other than Nigeria benefit from Jiji’s market-leading products and services.
The CEO and co-founder of Jiji, Anton Volyansky, said, “Users will always come first for us. We warmly welcome OLX’s customers to the Jiji family”.
He continued to say he looks forward to the 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”.
Combining the reach of OLX and Jiji’s proprietary search and delivery algorithms, users will enjoy a radically streamlined shopping experience. Thus, buying and selling online is going to be more convenient.
Sjoerd Nikkelen, the General Manager for OLX Africa, Middle East, and Asia also said they were proud of their achievements in the countries they operating in.
“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.”
One of the top classifieds marketplaces operating in Nigeria, Jiji opened up in 4 more locations in 2019. At the moment, Jiji has over 1 million ads on the platform at any given time. Its mobile app was ranked number 1 in 2018 in the Shopping category for Android users in Nigeria.