OLX, an online marketplace that connects people in local communities to sell, buy or exchange used goods and services through web or mobile, owned by Naspers, has shut down its offices in Nigeria.
This will surely affect over 100 employees but the workers was informed through a notice of termination, which will commence in March.
Uche Nwagboso, Public Relations and Communications Lead of OLX Nigeria, responding to an email, the company confirmed it made a decision to consolidate its business operation in Nigeria and has made provision for financial compensation for the workers that will be affected.
“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 classified 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,” Uche Uwagboso said.
Nigeria bad economy is really bringing divestment to e-commerce business. Efritin closed down in 2015 due to high cost of doing business, Konga was also sold to Zinox group due to the same reason and now, is OLX that operates in 45 countries and an average of 54 monthly listings of items for sale on its website.