Postal Corporation of Kenya secures US$650,000 from Trade Mark East Africa to boost e-commerce

KENYA – The Postal Corporation of Kenya (PCK) has secured Kshs. 72 million (US$650,000) from Trade Mark East Africa (TMEA) as it targets to boost its presence in the e-commerce delivery market. Under the deal, PCK says it intends to increase its capacity to process 10,000 packages daily to provide an efficient logistics and distribution platform for e-commerce entrepreneurs and customers. PCK says the funding will help it enhance internal digital capacities and improve collaboration with external, both regional and global actors, in the e-commerce space. “It is a great…

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Equites join forces with Eskom Pension and Provident Fund to acquire US$139.4m DSV distribution center

SOUTH AFRICA  – Equites Property Fund and Eskom Pension and Provident Fund (EPPF) have formed a joint venture to acquire a R2.05 billion (US$139.4 million) DSV distribution center in Gauteng, the first of what the partners believe will become a world-class logistics property portfolio, reports IOL News. Equities said it would hold 51 percent of the shares in the joint venture company and EPPF would hold the remaining 49 percent. Equites’ total equity contribution to the joint venture would be R732 million (US$49.8 million), which it would fund from its…

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DP World joins forces with CDC to invest US$1.7b in African ports

AFRICA –  DP World, a multinational logistics company based in Dubai, has partnered with the UK’s development finance institution and impact investor CDC Group to create a US$1.7 billion investment platform aimed at modernization and expansion of ports and inland logistics across Africa, starting in the ports of Dakar in Senegal, Sokhna in Egypt and Berbera in Somaliland. Trade enabled through the ongoing expansions is expected to create an additional 138,000 employment opportunities in the wider economy and by 2035, the ports are expected to support stable employment for around…

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Tech logistics firm Sendy to raise US$100m for Africa growth

KENYA – Sendy, a Kenyan tech logistics startup, is seeking to raise US$100 million by 2022 to fund the digital logistics platform’s plan to expand in western and southern Africa, reports Bloomberg. The Nairobi-based company, which facilitates door-to-door deliveries between individuals and businesses, will use the funds to commence business in the new markets, including Nigeria, Egypt, Ghana and South Africa, co-founder Malaika Judd said in an interview. Sendy, backed by Toyota Tsusho Corp, is seeking growth and partnerships amid the continent’s push to boost trade through the African Continental Free…

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Logistics startup Yobante Express raises US$1.2m funding round for its expansion plans in Africa

SENEGAL – Yobante Express, a logistics startup, has raised a US$1.2 million bridge funding round as it looks to build on its impressive growth. This round has come ahead of a Series A it will open at the end of the year. The funding comes from Grenfell Holdings, Launch Africa Ventures, R-Ventures, Libertad via its investment branch Aguila Investments and a pool of local and high international angel investors. The funding will be used to help the startup reach critical mass in South Africa and Nigeria. According to the Co-founder…

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Last mile delivery Gokada expands its services to Ibadan

NIGERIA – Gokada, the last mile delivery, logistics and transportation start-up, has launched in Ibadan following consolidated growth in Lagos, as part of its expansion strategy. Following the recent successful launch of its Super App, the company is rolling out operations in Ibadan across its food delivery (GFood) and logistics services (GSend), with plans to resume ride-hailing (GRide) and e-commerce (GShop) later in the year. As one of Nigeria’s crucial commercial centres with a close proximity to Lagos, Ibadan offers significant demand for Gokada’s unmatched last mile delivery services. The…

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Azur Innovation Fund invests US$390,000 in transport and logistics startup Cloud Fret

MOROCCO – Azur Innovation Fund, a public-private seed fund aimed at providing money to creative Moroccan entrepreneurs has invested US$390,000 in Cloud Fret. It is the fund’s second investment following that of Epicerie Verte. Cloud Fret is a transport and logistics startup founded in 2020. Its platform connects loaders and transporters as it aims to eliminate empty returns of trucks between the two ends of the Mediterranean. Its aim is to optimise the transport of trucks with the help of artificial intelligence which can track the movement of empty cargo…

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Sendy and Lami Technologies partner to launch per-trip insurance policies in Kenya

KENYA – Logistics startup Sendy and Kenyan insuretch company, Lami Technologies have partnered to enable transporters in Kenya to access simple, hassle-free, and affordable insurance products customized on a per-trip basis. Most transporters move commodities, goods, and cargo across the country without business-specific insurance, which does not protect the business from the risk of potential loss. The development of insurance products for the transport sector can contribute to both financial and economic development and this collaboration supports the logistic industry by digitizing access to insurance for transporters protecting them against…

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Moove launches in Cape Town as it eyes pan African growth

SOUTH AFRICA – Moove, an African mobility fintech, has been launched in Cape Town as part of its growth plans across the continent. The expansion marks the fourth city in which Moove has launched within only 15 months of operations and coincides with five new hires for Moove’s global C-suite and the milestone of completing one million Uber trips in Moove-financed cars. The rollout in Cape Town follows Moove’s recent US$23m Series A funding and builds on existing operations in Johannesburg, Lagos and Accra, with a goal of democratizing vehicle…

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Imperial and Sasol ink pact to co-develop hydrogen mobility ecosystem

SOUTH AFRICA – Imperial Logistics (Imperial) and Sasol South Africa (Sasol) have entered into an agreement to collaborate in exploring options and solutions for improving freight sustainability and efficiency in Southern Africa. The two companies will also be evaluating potential cross-border collaboration. Sasol’s aspiration is to play a leading role in the co-creation and development of hydrogen ecosystems, which aims to decarbonize hard to abate sectors such as transportation, using green hydrogen produced at its operations facilities leveraging existing process equipment and proprietary technology. Decarbonizing heavy-duty long-haul trucking using fuel…

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