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OLX Is Shutting Down Operations In Nigeria & Kenya In A New Strategy

OLX Is Shutting Down In NigeriaOLX Is Shutting Down In Nigeria

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OLX Is Shutting Down Operations In Nigeria & Kenya In A New Strategy

After finding themselves in an unfavorable business culture in Nigeria, Africa’s leading classified website OLX is shutting down its operation in Nigeria and Kenyan, according to report by Business Insider Sub Saharan Africa.The South-African based owned company Nasper, confirms the exist from the Nigerian and Kenyan market, but will continue to run the company in a new strategy move.

The classified company OLX, was founded as an alternative to American based classified website Craigslist, and it was fully bought by South-African media outfit Naspers in 2010, but has seen struggling to make its businesses in Kenya and Nigeria viable since it entered into those markets in 2012.

However, the decision is difficult but necessary one, those are statement coming from Sjoerd Nikkelen, CEO of OLX AMEA.

We made a difficult but important decision in Nigeria to consolidate our operations between some of our offices internationally.”

In 2012, OLX moved its operation into Nigeria and Kenyan market, and ever since then they find it difficult to recouped profit in their investment into those region, and they’re planning  to close its physical infrastructure in those two countries is bound to have a ripple effect on e-commerce in those market.

OLX Is Shutting Down In NigeriaOLX Is Shutting Down In Nigeria

OLX Is Shutting Down Operations In Nigeria & Kenya In A New Strategy

Mr.Nikkelen however revealed that the company would maintain its marketplace.

Our marketplace will continue to operate here – uninterrupted – as it has since 2010, and we remain committed to the many people here who use our platform to buy and sell every month. We continue to be focused on constantly innovating to make sure that OLX remains the top classified platform in the country.”

As revealed in an earlier report, hundreds of jobs will be affected by the decision with a complete pull  out of staff expected to be completed by April.

Sjoerd Nikkelen

Sjoerd Nikkelen, CEO of OLX AMEA

Of course, we are committed to helping our affected colleagues during this transition and have already offered them meaningful financial and other support. As we’ve expressed to them directly, we are extremely grateful for their many significant contributions to OLX’s success.”

The shutdown and an almost non-existent on ground operation in Ghana means that the country will now fully focus on its strongest market on the African continent in South Africa.

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