Nigerian Startup Jiji Buys Bangladesh's Biggest Marketplace

Nigerian startup Jiji just did something almost unheard of in the tech world: it bought Bangladesh's biggest online marketplace, Bikroy. The deal marks one of the first times an African tech company has successfully acquired a major platform in Asia.

Jiji's CEO Anton Volianskyi calls it a deliberate strategy. The company enters a new market, competes hard against existing players, then acquires them once it's proven the model works.

The approach has already succeeded across Africa. In 2019, Jiji bought out OLX's African operations across five countries after years of competition. Three years later, it acquired Tonaton in Ghana.

Now Jiji is taking that playbook to South Asia. The company launched in Bangladesh just over a year ago before making this acquisition, funded through internal resources and shareholder support.

Founded in 2014, Jiji has grown into one of Africa's largest classifieds platforms. It now operates across Nigeria, Ghana, Kenya, Uganda, Tanzania, and Ethiopia, serving over 90 million annual users.

Bangladesh made sense as a next step. The country has more than 130 million internet users, a young and growing population, and rapidly increasing smartphone adoption, similar to many African markets where Jiji thrives.

Bikroy, founded in 2012, attracts about three million monthly users and has more than 10 million app downloads. It's especially popular for buying and selling vehicles, electronics, and property.

The platform will keep its name rather than rebranding as Jiji. Volianskyi says the brand recognition Bikroy has built over more than a decade is too valuable to change.

The Ripple Effect

This acquisition signals a major shift in how the world sees African tech companies. For years, African startups have been seen primarily as recipients of investment and technology from the West or Asia, not exporters of their own business models.

Now companies like Jiji are proving that strategies developed in challenging markets like Nigeria can work anywhere. The tough operating environments in Africa, with inconsistent infrastructure and diverse user needs, have actually created resilient, adaptable companies.

The move could open doors for other African tech firms eyeing international expansion. It shows investors and competitors that African startups aren't just defending home turf anymore.

Jiji will face stiff competition in Bangladesh from Alibaba-backed Daraz and fast-growing Chinese platforms like Temu. But the company has already proven it can take on well-funded international rivals and win.

Bangladesh's e-commerce market is projected to exceed $12 billion in the coming years, offering Jiji the kind of rapid growth opportunity that's becoming harder to find within Africa alone.

African tech is officially going global, and this deal proves it can compete with the best.