S. African firm acquires Dubizzle

South Africa’s Nasper has fully acquired Dubai-based Dubizzle for $190 million (Dh697.3 million) through its subsidiary OLX Group. Nasper was already holding 51 per cent stake in the ecommerce firm and it bought the remaining 49 per cent as well. Wamda calculated Dubizzle’s value at $400 million at the time of acquisition. Driven by the UAE, e-commerce growth in the region is gaining momentum.