I am sure you might have heard about the term OXL. Well it’s one of the popular online stores where people sales their used (second hand) products especially mobile phones, electronic devices, home appliances and of course cars.

Now, the bad economic condition which is affecting Africa and almost all part of the word has hit the online store. Just as Efritin collapsed, OXL has collapsed and has shut down operations in Nigeria, Ghana and Kenya which are where they recorded biggest market penetration.

Oxl Nigeria

Meanwhile, OLX, an online global market place with physical presence in more than 40 countries, that gives everyone an opportunity to make money by selling any old/new stuffs you don’t like or don’t want to use again has left the building.

According to the original news we heard, Naspers (Multinational media group and investor) has allegedly shut down all OLX offices in Africa except the one in South Africa. Operations in Ghana, Nigeria and Kenya are going to be affected by this announcement.

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Staff in these offices have been informed and are expected to fully move out by the end of March 2018.

According to the CEO of OLX in Asia, Middle East and Africa alleged that OLX has indeed been shut down in Nigeria but no mention of Kenya and Ghana.

“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 classifieds 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.”

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Now we have only one online market place where you can buy and sell old/new stuff for physical cash. How did Jiji.ng manage to survive this economic harsh condition?

Note:

Naspers are investors in MultiChoice operators of the DStv and GOtv satellite televisions and the recently acquired Konga.

Ref: innovation village.

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