Jiji, the largest online marketplace in Africa, has reached an agreement to merge operations with the leading used car sales platform Cars45, creating a new and leading pan-African car buying and selling business
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Jiji, supported by Lemma.Group and Cars45 today announced that both companies had reached an agreement, under which they will merge their operations in Ghana, Kenya and Nigeria.
The merger of operations promises a new level of trade experience for auto buyers and sellers across the three countries.
Joining the Jiji family will allow Cars45 users to benefit from Jiji’s market-leading products in online classifieds. In turn, Cars45 brings a unique O2O car buying and selling service, where cars can safely be sold instantly to dealers or via a consumer marketplace to other consumers.
Together, users in the auto sector can expect a new level of convenience in buying and selling cars, combining online and offline capabilities.
Anton Volyansky, CEO and co-founder of Jiji, said:
“We are looking forward to creating a new advanced experience for Cars45 users. Undoubtedly, our collaboration on future products and services will bring additional value to the consumers. For Jiji, it’s the first bold step into the transactional business model and an important foundation for building the future of the company.”
Vladimir Mnogoletniy, co-founder and board member of Jiji, commented:
“The merger is the next logical step in Jiji development as the leading e-commerce platform on the continent. Our strategy implies moving further into transactional marketplace models and Cars45 merger is an important step in its realisation. We’re excited by the perspectives of the joint business and by the variety of additional options that both Jiji and Cars45 customers will have.”
Soumobroto Ganguly, CEO of Cars45, commented:
“We are proud to have built a trusted buying and selling experience in autos. It makes sense to combine online and offline expertise. Merging with Jiji is aimed at creating a new kind of automotive retail experience for users in Africa. We are confident of jointly building an African Champion in the O2O Automotive Sector. Together we look forward to making transactions transparent and convenient for our customers,dealers and franchisees across all our current and future markets.”
David Ojo, CFO and Member of the Strategic Board at Jiji, said:
“With this merger deal, Jiji becomes a one-stop solution for buying and selling the car for end-consumers. Thus, a simple classifieds model becomes a more complex e-commerce platform, where we control more stages of the car buying process. Ultimately, it improves the quality of services for both the buyer and the seller.”
Following the closing of the transaction, the operations of Cars45 and Jiji will merge to create a single organisation that will offer unique services for car sellers, buyers and dealers in Ghana, Kenya and Nigeria.
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Source: Yen News