Jiji, an online marketplace in Africa said it has reached an agreement to merge its operations with automotive trading platform, Cars45, to create a new and leading pan-African car buying and selling business.
During a ceremony in Lagos to announce the merger, the two companies said they would not be considering a rebranding at the moment despite the business combination, but wouldn’t overlook the possibility of such in the future.
They said the agreement will merge both companies’ operations in Ghana, Kenya and Nigeria.
In his address, Cars45 Chief Executive Officer, Soumobroto Ganguly, said the merger was a significant and landmark deal.
“This merger will create Africa’s leading automotive marketplace for end-users, dealers, and OEMs. 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 online-to-offline, 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 layered with technology and transparency in buying and selling cars, combining online and offline capabilities,” he said.
Also speaking, the Investor Relations Manager, Maxim Makarchuk, said the merger represents Jiji’s bold step into the transactional business model and an important foundation for building the future of the company.
According to him, the goal of the merger was to bring value to the end-users and create a one-stop solution for buying cars in the most convenient way for customers.
“The merger is also a logical step in Jiji’s 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,” he added.
Thisday