OLX’s Amazing Five Years in Nigeria, Hope for SMEs

FIfemayo Aiyesimoju; Marketing Manager; OLX; Lola Masha; Country Manager, OLX and Uche Nwagboso, Public Relations & Communications Lead cutting OLX 5th Anniversary cake(courtesy of Nuts About Cakes) in Lagos recently.

Among the companies that weather-the-storm and today attained a remarkable landmark inspite of the economic and regulatory challenges peculiar with Small and Medium Enterprises, OLX, an online classified markeplace stands head up with doggedness of continued economic significance in the country.

The E-commerce company was birth in Nigeria in the year 2012 when there were high level of low trust and close to zero acceptance in the market because of E-commerce related frauds and security challenges in the growing industry.

Consequently, the Nigeria online marketplace witnessed many dead on arrival companies as they couldn’t break the jinx but surprisingly OLX did…  A feat which still amaze industry watchers. What is the secret? What gives OLX this lifeline inspite of many market odds low bandwidth?
OLX Country Manager, LoLa Masha with simple and glowing remarks on Wednesday as the company celebrated its fifth amazing year in business with some of the platform users and newsmen shared insight on the journey and how they have been able to win users trust to sustain.
She said, “I am bold to say that in the last 18 months there is no record of any complaint either From the seller or from the buyer on the our platform. We have over 200 staff doing good job on versification and checks on the field and at the back end of the platform. This we certify before the buyers and sellers are linked for transaction.
“This as helped to speak to the peculiarities of the Nigeria market which is characterised with low trust. I can tell you for free that there are over 125,000 products of all classes for sale on the platform, a feat we recorded among the Nigerian users who have now trusted us as we have unique features on users identification, location, and transaction security features.”
” And this also helped to increase traffic growth on the platform. More statistics will be shared with the media for the public.”
There were out-pour if testimonies and good will messages from the platform users who graced the occasion.
Nike Majekodunmi; CEO, Nuts Abouts Cakes; Lola Masha; Country Manager, OLX and Bolanle Austeen-Peters; Founder and Managing Director at Terra Kulture during OLX 5th Anniversary in Lagos recently.
According to Mr David Pat and Mrs Nike Majekodunmi who were among the platform users that spoke at the forum said they became a successful entrepreneur leveraging the OLX platform for growth of their service offerings and client services.
“I have been a regular user of OLX platform and  among many thing has done I have been able to sell three cars and bought two on the platform in this year,” said Majekodunmi.
For Pat he became an entrepreneur via OLX. He said, ” Nigeria entrepreneur have to embrace electronic commerce platform to reach their market segment audience, and to do that a trusted
platform with reputable brand could be the right platform just for you.”
Some of the companies staff shared impacting stories including some journalists who have used the platform.

Also speaking at the event, Fifemayo Aiyesimoju, Marketing Manager, OLX also said that “in commemoration of our 5th Anniversary, OLX is giving away a quarter of a million naira  throughout the month of October to reward our loyal users and fans.

Users were told to follow all OLX social media handles on www.facebook.com/OLXNigeria/, Twitter @OLX_Nigeria and Instagram @olxnigeria to stand a chance of winning”.

In addition, OLX Country manager who was full if appreciation for the amazing five years reiterated that the leading classifieds marketplace will continue to add value and  empower millions of people to buy, sell and create prosperity in local communities.
She said, “I like to add that Nigerians are wonderful. We really appreciate them for our amazing five years. The journey was rough but Nigeria believes in us. Today we have become what they are proud of. The company started with an idea to change lives in the community and today the reality has outlived its pioneers.
“OLX is here to stay,” Lola added stating that ” I want to urge more business enterprises, Small Medium Entrepreneurs and individuals with business ideas not to give up in the face of challenges in the country because opportunities and new opportunities exhume by the day.
“Individuals with business ideas and strategic business model can partner with OLX as we continue on this amazing journey of transforming socio-economic lives in online marketplace.”