OLX is owned by Naspers, the South African internet and media group that offers its services in over 130 countries.
Reliable sources indicate that the company’s employees in Kenya and Nigeria have been informed of the decision.
Junior have been served with a notice of termination, effective beginning of March. Senior staff’s termination will take effect in April
While the exact number of employees who will lose their jobs is not yet clear, millions who relied on OLX to conduct their business will feel the gap.
OLX offered a reliable medium for individuals and businesses to get in touch with customers. Electronics and Agricultural products sellers and buyers will be mostly affected by the exit.
While there are several e-commerce platforms that will jump in to fill the market, it will not be easy to have the reach and resources OLX had.
OLX is not the first company to wind operations in Kenya. Most of those winding up operations in the country cite high cost of data, political instability and low internet penetration.