Ringier Africa and One Africa Media (OAM) have agreed to merge their pan-African Classifieds assets to create and grow Africa’s largest classifieds group.
The new joint venture Ringier One Africa Media (ROAM) which was officially launched on Tuesday is now positioned as Africa’s classifieds leader, with top homegrown brands such as OAM’s Jobberman, Cheki, BuyRent Kenya & PrivateProperty Nigeria and Ringier Africa’s Expat-Dakar, ZoomTanzania & PigiaMe. Both Ringier and OAM have committed to continue to significantly invest into the new venture to build out its market leadership. OAM’s CEO Justin Clarke will become the Acting CEO of the new group.
“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. 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,” said Clarke, who co-founded OAM in 2010, a company that has aggregated and grown Africa’s largest marketplaces in employment, automobile and property backed by US-based Tiger Global Management and SEEK, a leading employment classifieds group based out of Australia.
Ringier has been expanding in recent months as it seeks to become one of Africa’s most important internet companies. The company has been entering into joint ventures in order to achieve this goal. In March, Ringier Africa Deals Group, a joint venture between Ringier Africa AG and Silvertree Internet Holdings (Pty) Ltd acquired DealDey, Africa’s largest online deals e-commerce platform together with its couponing platform Promohub and discovery platform Lyf.
Robin Lingg, Ringier Africa & Asia CEO noted that its JV partner One Africa Media has pioneered the vertical classifieds market in Africa – and Ringier, on the other hand has built and grown some of the biggest horizontal marketplaces on the continent.
“We now have a clear, focused vision to operate and grow Sub Saharan Africa’s most innovative, expansive and profitable classifieds company together,” Lingg said.
ROAM’s joint focus will be to serve its users across Africa with best-in-class marketplace platforms, according to Ringier Africa GM Leonard Stiegeler. He added that combining the strength of both partners will users of ROAM’s platforms reach a larger audience with their offers and find what they are looking for easier and faster.