Naspers-owned OLX Group‘s sale of its African OLX horizontals to Ukraine-based Genesis Technology Partners is officially complete. Genesis subsidiary Jiji.ng now owns OLX horizontals in Nigeria, Ghana, Kenya, Tanzania, and Uganda. They will be managed by Walie Holdings Limited.
“As of 20 June 2019, when you come to our website, it will redirect you to Jiji…,” OLX said in a note to users. “For the purposes of continuing the service, we will transfer your account details (including your personal information that you have provided to us) and your active advertisements to Walie Holdings Ltd on 14 June 2019.”
Walie Holdings Limited is a Jiji-owned holding company that will manage and operate the horizontals under Jiji.ng in Nigeria and Jiji.ke in Kenya. The company is registered in the British Virgin Islands as Walie Holdings Ltd c/o AJK Corporate Services (BVI) Limited.
It’s interesting that Jiji has handed over management to a holding company. Businesses usually do this to protect themselves from liabilities. This could be Jiji’s way of shielding itself from future risks.
Walie Holdings will continue operating the horizontals on a freemium model. Visitors will be redirected to Jiji’s website but will still be able to sign in and continue using their existing OLX accounts.