Facebook’s Marketplace has launched in South Africa, offering a classifieds platform where users can buy and sell goods.
Marketplace is available in 47 countries, and over 550 million people visit Facebook and use Marketplace each month, said Facebook.
With Facebook’s strong presence in South Africa, there could be reason to worry that online classifieds players in the country may suffer – but this is not the case with OLX.
OLX’s South Africa country manager Thembani Biyam said competition in the South African online classifieds market was inevitable.
“We welcome new players with a large social penetration, as they lower the barriers for more people to participate in peer-to-peer trade and expand the classifieds market,” said Biyam.
Despite the competition from Facebook, Biyam is confident they are well positioned in the local market.
“While there is clearly space for multiple players, we are confident in our strategy, which has led us to be the number one online classifieds business in the world,” said Biyam.
“We are continuously innovating, and investing in new technologies and specialised local teams who understand the needs of South Africans who are searching for ways to improve their prosperity,” he said.