What Jobberman’s Acquisition of NGcareers Says about the Online Job Market in Nigeria

In an surprising development, Jobberman Nigeria announced that it had taken over 100% ownership of NGcareers. This was absolutely unexpected, seeing as both companies were once major competitors in the online job recruitment space.

@Jobbermandotcom Nigeria has acquired https://t.co/DLtynJXIC7, the online destination for job vacancies, recruitment insights and career advancement tools in Nigeria for an undisclosed sum.

— Nc'e (@uNcedani) September 4, 2020

Business Elites Africa understands that no mention was made about the monetary value of the transaction. One thing that is clear, however, is the fact that the acquisition will help consolidate Jobberman’s dominance. The company’s Chief Executive Officer, Hilda Kabushenga Kragha, commented on this, saying:

“Ngcareers is one of the top job portals in Nigeria. With this acquisition, we have the opportunity to widen our scope in Nigeria and show our long-term commitment to the market. The Acquisition of Ngcareers will further cement our position as the number one careers platform in Nigeria. It will give us a stronger bigger platform and enable us to create better digital services for our customers. We look forward to welcoming our new employer partners and job seekers from Ngcareers to the Jobberman family.”

Besides helping to consolidate Jobberman’s dominance, this acquisition also demonstrates just how much the Nigerian online job marketplace has grown. Thanks to the digital/technological transformation that has swept through the country, millions of Nigerians now rely on the internet to advertise and or search for jobs. Indeed, digital technology has revolutionised the way Nigerians live.

Do note that prior to the acquisition, NGCareers witnessed quite an interesting growth trajectory. From struggling to capture an audience in 2009 after it was founded by Paul and Andrew Eze, to having more than a million active users, the brand really established itself as a relevant force in the Nigerian business space. But Eze said that selling it is the best thing at this point in time.

“After a thorough evaluation of the different strategic options for Ngcareers, we are pleased to divest this successful business to Jobberman Nigeria, a strategic and committed owner. I would like to thank our Ngcareers team for their commitment and success in growing and developing the business, which is in very good shape.” 

In the meantime, there will be a transition period which will see both companies operate as independent brands, but under Ringier One Africa Media (ROAM) Africa. Recall that ROAM had, in 2015, acquired 100% stake in Jobberman Nigeria.