Efritin, one of the most popular online classified sites might be shutting down its operations in Nigeria.
There is a likelihood that Efritin might just be restructuring its operations to ensure it runs a leaner operations. Whichever way, all these are still speculations. The company has not made any comment on its future, but the management might issue an official statement any time soon.
The Nigerian economy has received a major blow, an aftermath effect had a devastating consequence on many technology startups who rely on foreign direct investment as their lifewire.
Efritin was established in 2014 and soon grew to conveniently compete with Naspers backed OLX, Jiji and other classified sites in Nigeria.
Efritin is fully owned by Saltside Technologies, A Swedish tech investor with investments across Ghana, Sri Lanka and Bangladesh.
The company has major shareholders from big Swedish tech investors such as AB Kinnevik, major investors in Konga, Home24.