Adenia Partners, a private equity firm focused on emerging African businesses, has acquired 100% of last-mile logistics firm The Courier Guy – popular among e-commerce companies – for an undisclosed sum.
“Through the acquisition, Adenia will look to capitalise on the significant growth opportunities within South Africa’s last-mile delivery sector, driven by the exponential growth of e-commerce and the introduction of global marketplace giants to the country,” Adenia Partners said in a statement.
Adenia expects South Africa’s e-commerce market to reach US$16.3-billion by 2030, with an annual growth rate until then of 15%. The investment firm has partnered with German development finance institution DEG, French development finance institution Proparco, and South Suez as co-investors in the acquisition.
The investing team sees its involvement as a catalyst for growth for The Courier Guy, which has an extensive network of delivery partners, kiosks and more than 1 200 “pudo” smart lockers across South Africa.
Although there’s no (apparent) direct link between the acquisition of The Courier Guy and the impending launch in South Africa of Amazon.com’s retail operations, Amazon’s plans are expected to drive changes in the local logistics market.
Speaking at an e-commerce webinar hosted by the Insaka eCommerce academy last week, industry experts from Takealot.com, Bob Shop and Order Kasi noted how Amazon’s interest in the local market shows the potential still left for growth.
E-commerce
Mature logistics outfits like The Courier Guy will benefit as e-commerce grows on the back of Amazon’s investment.
Read: What’s holding up township e-commerce
“Partnering with Adenia and its co-investors opens up unprecedented opportunities for us to enhance our service offerings, boost operational efficiencies and accelerate our growth as we look to set new standards within the logistics sector. We can’t wait to see what the future holds for The Courier Guy as this collaboration unfolds,” said Craig Pitchers, CEO of The Courier Guy, in a statement. – © 2024 NewsCentral Media