One Africa Media Raises $10m from SEEK

Australian-based SEEK, one of the world's largest online employment marketplace by market capitalisation, has announced the investment of USD$10m for an additional six per cent equity ownership in One Africa Media.

One Africa Media owns, operates and invests in a portfolio of online marketplaces in the employment, auto, property and travel sectors. 

With this raise, OAM has acquired 100% of Jobberman and BrighterMonday, the two job businesses it acquired earlier in Kenya and Nigeria. OAM owned part of Jobberman but now has 100% of the jobs markertplace present in Nigeria and Ghana. OAM will also be using this cash to expand its property, jobs and cars marketplaces to new markets, and last year it acquired part of BuyRentKenya and a general classifieds in Zimbabwe.

This funds will help One Africa Media expand its marketplaces across Africa and up its operations in markets such as Nigeria, Kenya, South Africa, Ghana, Uganda, Tanzania and Zimbabwe where it is already operational and a market leader.

SEEK's USD$10m investment provides it with an additional six per cent equity ownership in OAM, and a second representative on the OAM Board. SEEK now owns 30 per cent of OAM.