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Breaking: OLX is shutting down its operations in Kenya and Nigeria

BUSINESS

Breaking: OLX is shutting down its operations in Kenya and Nigeria


Nobody probably saw this coming, but well, OLX is shutting down its operations in Kenya and Nigeria. According to a report published by Pulse, the Naspers owned e-commerce platform informed its staff in the two countries of the decision on Tuesday, with a notice of termination to beginning in March, with the management team will follow in April.

It is not clear the number of staff that will be affected by this decision but of course most OLX users in Kenya and Nigeria will be disappointed by this move.

OLX which was acquired by South Africa’s media giant Nasper in 2010 has been struggling to make its business in Kenya and Nigeria since entering the two markets in 2012. The company is the world’s leading classifieds platform, with a presence in more than 40 countries around the globe.

This number is however going to reduce after today’s announcement.  The report says that all OLX business will now be moved to South Africa. 

The company has not made any official comment on this but its definately something we will be following up on.

More details to follow.

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