Australia’s online employment services company SEEK has taken an 25 per cent stake in One Africa Media (OAM) for US$20 million, increasing its global footprint.
OAM’s portfolio includes Jobberman in Nigeria, Brighter Monday in Kenya and Safari Now in South Africa.
SEEK is the leading online classifieds portal in Australia and New Zealand and is looking to take advantage of the growing mobile and internet penetration rates in Africa.
Jason Lenga, managing director of SEEK International, said: “Africa presents a strategic opportunity to benefit from the significant long-term growth opportunities for online classifieds businesses.
“Internet and mobile penetration are growing rapidly and key economies within the region are experiencing substantial increases in GDP.
“The investment is in early stage, market leading businesses that position One Africa Media to benefit from both the economic and structural growth in the region.”
OAM describes themselves as “Africa’s largest online classifieds group by traffic, page views, ad volume and revenue”.
The company employs more than 350 people in Durban and Cape Town in South Africa, Nairobi in Kenya, and Lagos in Nigeria.
