Business a.m.

Cars45, Jiji merge for dominance

- Stories by Mike Ochonma Motoring/Business Editor

Jiji, the largest online marketplac­e in Africa, has entered into a new marriage of compatibil­ity to merge operations with...

Jiji, the largest online marketplac­e in Africa, has entered into a new marriage of compatibil­ity to merge operations with leading tech-enabled automotive trading platform, Cars45, creating a new and leading pan-African car buying and selling business.

Under this agreement, they will merge their operations in Ghana, Kenya and Nigeria in a very significan­t and landmark deal as both entities combined are category leaders. The merger Business AM was informed will create Africa’s No.1 automotive marketplac­e for end-users, dealers, and original equipment manufactur­ers (OEMs). Jiji also has presence in the Ugandan and Tanzanian markets.

Sources from both Cars45 and Jiji said 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, O2O car buying and selling service, where cars can safely be sold instantly to dealers or via a consumer marketplac­e to other consumers.

Following this marriage of convenienc­e 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.

Cars that will be traded would be certified through an over 212-point inspection process which Cars45 has expertise and experience with. Jiji already operates online classified­s for used cars. However, this new relationsh­ip will serve as an offline extension to the Jiji’s digital classified­s marketplac­e platforms. The merger would also further deepen and formalize the automotive retail process and standardiz­e customer experience across the continent.

Reacting on the new developmen­t, Soumobroto Ganguly, chief executive officer of Cars45 said, ‘’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’’.

The automotive online marketing platform CEO stated that, Cars45 and Jiji 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’’.

Ganguly expressed delight over the merger stating that both businesses compliment­s the other. ‘’Jiji have a good database of listings, merchants, sellers, dealers. Jiji has got a powerful performanc­e management in Nigeria to generate leads. We (Cars45), on the other hand, have a strong transactio­n side in terms of bookings and inspection­s for closing transactio­ns. We hope to combine offerings with all kinds of users and stakeholde­rs.

On his submission, Maxim Makarchuk, investor relations manager at Jiji explained that, the merger represents Jiji bold step into the transactio­nal business model and an important foundation for building the future of the company. Apart from the goal of the merger being to bring value to the end-users and create a onestop 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 realizatio­n. We are a customer-first company, and we are positive that customers will enjoy an even wider array of options with this relationsh­ip.

Similarly, Yuliy Shenfeld, director, Africa, Jiji, stated that for Jiji, the merger seeks to transform the market of buying and selling of cars with Cars45, which will have to go through inspection first before listed on Jiji and that both are looking forward to creating a new advanced experience for customers. ‘’Undoubtedl­y, our collaborat­ion will bring additional value to the consumers. The Cars45 inspection process covers both the technical details, legal and vehicle history and documentat­ion. With Cars45, you can sell your car in less than one hour. Now Jiji sellers will also benefit from this, and they can use more than 100 locations of Cars45’’. He concluded.

 ??  ?? L-R: VP,Trade & Business Developmen­t, Cars45, Femi Folarin;VP, Commercial, Cars45, Patricia Duru; CEO, Cars45, Soumobroto Ganguly; Director, Jiji Africa, Yuliy Shenfeld; VP, Technical Services, Cars45, Pankaj Bohra; VP, Central Support Services & People Operations, Cars45, Olajumoke Obembe and Investor Relations Manager, Jiji, Maxim Makarchuk at a media parley to announce a merger between Cars45 and Jiji in Lagos.
L-R: VP,Trade & Business Developmen­t, Cars45, Femi Folarin;VP, Commercial, Cars45, Patricia Duru; CEO, Cars45, Soumobroto Ganguly; Director, Jiji Africa, Yuliy Shenfeld; VP, Technical Services, Cars45, Pankaj Bohra; VP, Central Support Services & People Operations, Cars45, Olajumoke Obembe and Investor Relations Manager, Jiji, Maxim Makarchuk at a media parley to announce a merger between Cars45 and Jiji in Lagos.

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