By Our Reporter
Although E-commerce platforms seemed to be the disruptive technologies to business in Uganda, many seem to have fallen on a hard rock. One such platform is OLX.co.ug, Uganda’s leading classifieds platform. We can exclusively confirm that OLX will be shutting down its operations in Uganda, Kenya and Nigeria.
“We just failed to break-even. It’s time to change ways of work and re-strategize,” a source at the platform revealed.
OLX has all come under trust issues as buyers and sellers hit road-blocks ranging from fake dealers, and fake products.
This implies that a number of its Ugandan employees will lose jobs in the changes and many have already received termination letters.
OLX however insists that its platform will continue to exist but there won’t be a physical location for its operations except one or two leads for Uganda communicating with the head offices in South Africa.