09/02/2018

OLX Shut Down All Operations in Nigeria, Ghana and Kenya



It is no longer news that Businesses in Nigeria are operating under economic harsh condition and those businesses who couldn’t survive packed up. Efritin, an online market place came with everything and left with nothing last year, Konga has been bought and now… OLX has left the building!


OLX, an online global market place with physical presence in more than 40 countries, that gives everyone an opportunity to make money by selling any old/new stuffs you don’t like or don’t want to use again has left the building.

According to the original news we heard, Naspers (Multinational media group and investor) has allegedly shut down all OLX offices in Africa except the one in South Africa. Operations in Ghana, Nigeria and Kenya are going to be affected by this announcement.

Staff in these offices have been informed and are expected to fully move out by the end of March 2018.

According to the CEO of OLX in Asia, Middle East and Africa alleged that OLX has indeed been shut down in Nigeria but no mention of Kenya and Ghana.

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

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 classifieds platform in the country.

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.

Now we have only one online market place where you can buy and sell old/new stuff for physical cash. How did Jiji.ng manage to survive this economic harsh condition?

Note:
Naspers are investors in MultiChoice operators of the DStv and GOtv satellite televisions  and the recently acquired Konga.

Source:1,2

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21 comments :

  1. Doing business in Nigeria is no longer easy. Being an entrepreneur is not easy at all. Just look at the type of critical decisions these guys have to make. Too bad a lot of people will become jobless.

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  2. something has to be done about all this businesses packing up

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  3. Yea, i saw this news yesterday and was wondering of Africa countries are nolonger pleasant for businesses

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  4. this is really bad. a company that has been present since 2010, with lots of people on their payroll is being forced to leave because of economic conditions. it's just sad.

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  5. Seems Nasper is pulling out a lot of their investments.

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  6. God should help us in Nigeria cause all business are packing up

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  7. Recession is hitting hard on all dis companies....

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  8. Good afternoon prof. Pls check your mail.
    Jus had to download chrome now for this.

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  9. I heard DSTV lincense has expired and may shot down by June

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  10. This is alarming. I heard Dstv and Gotv licences wont be renewed too. So many things are happening

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  11. Sad 😔 news. God makes Nigeria 🇳🇬 to be investors destination. We need jobs to survive

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  12. Am so happy, the should even stop JiJi too. The feaud people are doing with olx and JiJi don too much.

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  13. Many people will be displaced......The country hard o

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  14. Sorry 4 olx sha....... Jiji still on point

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  15. I guess these companies are leaving because the economic condition of Nigeria isn’t favourable to them anymore

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