Jiji.ng – the largest classifieds marketplace in Nigeria – has reached an agreement to redirect OLX users in Nigeria to Jiji and to acquire OLX businesses in four other countries, building a leading pan-African classifieds business.
Jiji and OLX today announced that both companies have reached an agreement under which 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.
Joining Jiji’s family will allow OLX users in these countries to benefit from Jiji’s 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.
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”.
Yuliy Shenfeld, Jiji Nigeria’s country manager, said “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.”
Sjoerd Nikkelen, General Manager of OLX in Africa, Middle East and Asia comments “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.”
Following closing of the transaction (which is expected to occur once certain regulatory approvals have been obtained), 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. The Jiji team will strive to make the transfer seamless and to provide a high-quality user experience across all geographies.