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OLX closes shops in Nigeria

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From all indications, it seems  OLX, an online marketplace owned by Naspers is shutting down it’s offices in Nigeria, a development that will affect over a 100 employees.

Findings reveal that the workers were officially informed about the development on Tuesday through a termination notice which will take effect from March and subsequently followed by the management team.

In an emailed response by the Public Relations and Communications Lead, OLX Nigeria, Uche Nwagboso, the company affirmed that it had decided to consolidate its business operations in Nigeria.

According to her, the company has made a severance package available for the affected workers.

“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,” Nwagboso said.

She added, “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.”

OLX was launched in Nigeria in 2012 and boasts of over three million buyers and sellers registered on its platform as at 2015.

OLX is an online platform where sellers meet buyers and conduct transactions by using their mobile phones to initiate the process.

The company operates in 45 countries and has an average of 54 million monthly listings of items for sale on its website.