OLX, one of Africa\u2019s largest classifieds, has acquired Tradestable, its biggest rival in Nigeria.<\/p>\n
The move not only gives OLX, a relatively new entrant into Africa\u2019s biggest consumer market, a greater reach within the market, but consolidates its position as the leading classified platform for spend-savvy Nigerians.<\/p>\n
OLX (OnLine eXchange) entered the Nigerian market in August of 2013, but has quickly become one of the most visited trading platforms available to Nigerians.<\/p>\n
One reason for its relatively quick success is its diverse portfolio of offerings.<\/p>\n
OLX sellS virtually every commodity; from baby products and household equipments to cars and houses, giving it the edge of product specific platforms like Private Property, Carmudi or Kaymu.<\/p>\n
It also allows Nigerians, particularly in traffic-jammed Lagos, the luxury of accessing an array of sellers from the comfort of their smartphones \u2013 the most utilized channel in accessing OLX within the country.<\/p>\n
For sellers, particularly informal traders (those who make one-off sales), OLX has provided a platform that allows them direct access to buyers, making it quicker to access payments.<\/p>\n
In a statement, released on the back of the acquisition, OLX noted that combining both platforms will expand access for this set of budding traders.<\/p>\n
It\u2019s Country Manager, Lola Masha, added that the buyout will provide users a wider portfolio of products and brands.<\/p>\n
Despite the strategic buyout, which will shield it from competent competition for the foreseeable future, OLX remains plagued with issues surrounding trust.<\/p>\n
Given its lax control over transactions, fraud, popularly known as 419 in Nigeria, continues to surface. This has dented its image and raised red flags particular among buyers.<\/p>\n
<\/p>\n
Source: Ventures Africa<\/p>\n","protected":false},"excerpt":{"rendered":"
OLX, one of Africa\u2019s largest classifieds, has acquired Tradestable, its biggest rival in Nigeria. The move not only gives OLX, a relatively new entrant into Africa\u2019s biggest consumer market, a greater reach within the market, but consolidates its position as the leading classified platform for spend-savvy Nigerians. OLX (OnLine eXchange) entered the Nigerian market in […]<\/p>\n","protected":false},"author":25,"featured_media":105268,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[],"tags":[18,20,4],"class_list":["post-105267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-dr-akwasi-osei","tag-mental-health-authority","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/105267","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=105267"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/105267\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/105268"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=105267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=105267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=105267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}