Kenyan logistics tech company, Sendy has acquired a significant stake in West African logistics startup, Kamtar, through a collaboration with Toyota Tsusho Corporation, Mobility 54 Investment SAS, and the corporate venture capital arm of CFAO.
This new development is expected to increase the growth and development of Sendy in the West African market sphere. Founded in 2018, Kamtar is a large logistics company that is popular among the French-Speaking West African nations.
The acquisition of a major stake in the startup by Sendy is considered a strategic approach by the company to expand its visibility in the West African market. During the recent funding round, Sendy collaborated with other tech companies to acquire major stakes in Kamtar, a report said.
The East African company — Sendy — believes its acquisition of Kamtar is an opportunity to explore West African markets. The company will rely on efficient planning and a strategic approach in its bid to explore the supply chain and logistics sector of the West African market.
Sendy says it will utilize modern technology, professionalism and a wide variety of services to improve Kamtar’s developments in Senegal and the Ivory Coast — two French-speaking countries it currently offers logistics services. Sendy believes that the logistics startup will begin to provide services to other French-speaking West African countries by 2022.
Founder and Chief Executive Officer of Sendy, Mesh Alloys said in a statement:
“This well-thought-out investment will enable us realise the long-term objectives of our company, which is extending our business to the West African markets and assisting our customers who wish to enter the West African market as well. With Kamtar, we share the same goals and objectives, which will make it easier for us to do business across Africa. We are also anticipating the collaboration with Kamtar on product development and solving tech-related problems for customers across African nations.”
In the last couple of months, there have been a great deal of partnerships between African tech startups with the aim of expanding their services.
According to operational statistics, Kamtar has over five thousand drivers carrying out its logistics operations. The company offers logistics services that link SMEs and corporate organisations, enabling the relative ease of deliveries within the regions it operates.
“We are very happy to have formed a partnership with Sendy Limited. We anticipate the resulting collaborations that will occur between our company and Sendy in the African market space,” Arthur Thuet, Kamtar’s President disclosed in a statement.
“Our objective is to merge the best of both firms to become the largest freight and logistics company in the French-speaking African countries,” he added.