- Sendy Ltd, the Kenyan tech-logistics firm, which started in 2015, has acquired a minority stake in an Ivory Coast-based company.
- The digital logistics firm has partnered with Mobility 54 Investment SAS — a corporate venture capital unit of Japan’s Toyota Tsusho and its affiliate CFAO Group — to acquire a “significant stake” in Kamtar International.
Sendy Ltd, the Kenyan tech-logistics firm, which started in 2015, has acquired a minority stake in an Ivory Coast-based company. The digital logistics firm has partnered with Mobility 54 Investment SAS — a corporate venture capital unit of Japan’s Toyota Tsusho and its affiliate CFAO Group — to acquire a “significant stake” in Kamtar International. The deal is part of its strategy to grow business deals at West Africa’s largest seaport and Africa’s second most important port, after South Africa’s Port of Durban. The start-up company Kamtar, started in February 2018, links truckers to small businesses and larger corporates in West Africa. Sendy, will use the investment to grow its presence at the Port of Abidjan that caters to landlocked countries such as Mali, Burkina Faso, Guinea, Chad and Niger.
The Kenyan logistics upstart says it will leverage on its “technology, expertise and broader range of services to bolster Kamtar’s capabilities” in Cote d’Ivoire and Senegal, with sights on spreading wings to other French-speaking West African countries by end of 2022.
Sendy founder and chief executive officer Mesh Alloys was quoted as saying that the company aims to increase its minority stake in due course. Sendy, raised $19.9 million (Sh2.2 billion) in January 2020 for expansion into Western, Southern and Northern Africa. He added that the strategic investment will help achieve Sendy’s long-term goal of expanding its West African presence as also support its customers to penetrate into the West African market. Mr Alloys said in a statement.
