OLX Shuts Down Operations In Nigeria
Naspers has shut down all its offices across Africa except for South Africa. Our sources said the staff across the offices were informed today and they have been given till the end of March 2018. Though the sites will still be available in these countries, they will be operated remotely. One would have thought that having run OLX in Nigeria, Kenya and Ghana for over five years, they had survived the usual Naspers hammer. In fact, OLX just celebrated five years of opening its doors in Nigeria with loud cheer, great pride and awesome achievements recently. And it just turned on its revenue mechanisms in 2016 and was making money. The fact is that Naspers continuously assesses its properties and decides which ones would stay open or shut. No property is immune from this brutal touch. Even if they have invested tons of money and they find that it is not in line with its ever changing strategic direction, the property would be axed. (Remember Mocality Nigeria and Kenya in 2013 and WeChat in...