NAIROBI – When Alibaba, a Chinese e-commerce website, listed on the New York stock exchange on Tuesday, many e-business sites were watching with bated breath to see how the Chinese juggernaut debuts in the public sphere. To the surprise of many, Alibaba shares rose exponentially within hours.
This has given confidence to other aspirants like OLX Kenya, Kenya’s leading classifieds website, who parent company is listed on the Johannesburg Stock Exchange. Started in 2006 in Argentina, OLX found its footing in the Kenyan market two years ago, after the founders identified a niche market in buying and selling goods online.
“Kenya’s internet adoption, mobile penetration and cultural inclinations were the ingredients that led OLX to Kenya,” says OLX Country Manager Mr Peter Ndiang’ui. “As a market leader in East Africa, Kenya provided an ideal opening to venture in and from onset we were sure of growing, since Kenyans are always ready to try new things.”
OLX has become a household name and some Kenyans even joke of selling underperforming politicians on the online platform! Technology is said to be the sophisticated and literate person’s paradise but OLX’s simple approach has turned this notion on its head using humorous adverts and aggressive campaigns.
The growth of affordable smartphones and availability of the OLX app in all smartphones has opened new battlefield for online trading and contributed immensely to OLX’s popularity among Kenyans. In two years, the website has helped Kenyans to meet and conduct business virtually and kicked out middlemen.
Also present in South Africa, Ghana and Nigeria, OLX is eyeing new markets to continue diversifying its wings as the leading online trading website in Africa. OLX’s emergence as an e-commerce giant reflects the rising power of technology. After being in an investment mode for two years to build a firm client base, OLX plans to start cashing from its website through advertisements.
“Our website receives over 500,000 visits per day and plans are afoot to monetise it. We believe this will be an awesome avenue to continue stamping our authority in the country and eventually on the entire African continent,” said Mr Ndiang’ui. How does the website curb fraud? “In our offices we have a customer operations team that scrutinises adverts before we post them. This helps in determining whether one is a serious business person or a fraudster out to fleece money from innocent Kenyans,” added Mr Ndiang’ui.
In addition, OLX has partnered with Kenya ICT Authority, Consumer Federation of Kenya and KK Security to educate consumers on their safety when buying and selling through online platforms. The one-month campaign called ‘Kaa Ridho’ (slang for “Be on the alert”) will be rolled out in all media platforms across the country.
Kaa Ridho will be an educative campaign to create awareness among Kenyans. As the government tries to make the business climate favourable for investors, Mr Ndiang’ui called for more collaboration with the police to deal with internet fraud.
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