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Ringier Africa agrees joint venture with One Africa Media
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- The joint venture called Ringier One Africa Media becomes one of Africa’s largest classified groups.
Ringier Africa and One Africa Media (OAM) have agreed to merge their Pan-African classifieds assets into a joint venture called Ringier One Africa Media (ROAM), according to a statement released on Tuesday.
ROAM becomes one of Africa’s largest classified groups, comprising leading homegrown brands such as OAM’s Jobberman, Brighter Monday, Cheki, BuyRent Kenya, PrivateProperty Nigeria as well as Ringier’s Expat-Dakar, ZoomTanzania and PigiaMe.
The new joint venture will focus on creating classifieds systems that improve user experience across six African countries in three strategic regions: Nigeria and Ghana in English-speaking West Africa; Kenya, Tanzania and Uganda in East Africa; and Senegal in French-speaking West Africa.
“We have been looking for the right strategic partner with a similar broad vision for classifieds in Africa and who has a deep understanding of how things work in this complex continent as well as the long term commitment to stay the distance in some very large but early stage markets,” said Justin Clarke, OAM’s CEO who will also serve as Acting CEO of ROAM. “We have known Ringier Africa for many years as we have both pioneered these markets in parallel and are really excited to be joining hands at last. The synergies are huge and we fit so well together.”
Founded in 2010, OAM has developed some of Africa’s largest marketplaces in employment, cars, and property. The company is backed by US-based Tiger Global Management and SEEK, a leading Australian employment classifieds group.
“One Africa Media has pioneered the vertical classifieds market in Africa and Ringier has built some of the biggest horizontal marketplaces on the continent,” said Robin Lingg, CEO of Ringier Africa & Asia. “We now have a clear, focused vision to operate and grow Sub Saharan Africa’s most innovative, expansive & profitable classifieds company together.”
Established in 2011, Ringier Africa is a leading digital media company focused on content, classifieds, e-commerce, and digital agencies. The Swiss-owned company controls Pulse, a news platform, and Ringier Digital Marketing, a pan-African digital agency network. In March, Ringier Africa in partnership with South Africa’s Silvertree Internet Holdings acquired DealDey, one of Nigeria’s largest online shopping platforms, for an undisclosed amount.
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