OLX has confirmed its exit from the Nigerian market after Business Insider Sub Saharan Africa broke the news.
CEO of OLX AMEA, Sjoerd Nikkelen says the decision was a difficult but necessary one.
“We made a difficult but important decision in Nigeria to consolidate our operations between some of our offices internationally.”
The buying and selling website moved into Kenya and Nigeria in 2012 but has now decided to shut down operations in the two countries.
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.”
Hundreds of jobs will be affected by the decision with a complete pullout of staff expected to be completed by April.
“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.