Jiji has reached an agreement to acquire OLX businesses in Nigeria, Ghana, Kenya, Tanzania, and Uganda. The acquisition is subject to regulatory approval.
Both Jiji and OLX are popular e-commerce platforms in Africa. After approval of the deal, OLX users would be redirected to Jiji’s portal. The acquisition is said to create a single user base of more than 8 million monthly users for Jiji.
See also: DHL’s new e-Commerce Platform, eShop Expands to more African Countries
Jiji was able to pull off this feat through the help of its major investor, Digital Spring Ventures. It will use this opportunity to expand operations across these fast-developing countries with a combined population of about 300 million people. The acquisition positions Jiji as a formidable force to be reckoned with in Africa’s e-commerce market.
South African global consumer internet group, Naspers owns OLX Group. Naspers is also a major investor in Konga which was sold to Zinox Group in 2018. OLX laid off workers and closed its Nigerian business in February 2018, but maintained its online marketplace. Naspers exit from Sub-Saharan Africa may be linked to its intention to list consumer internet services on the Euronext Stock Exchange.
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