This archive report was first published on 6 October 2021.
On October 7, 2021, Sendy Ltd, a Kenyan digital logistics firm, announced its acquisition of a minority stake in an Ivory Coast-based company, Kamtar International, as part of a strategy to grow business deals at West Africa's largest seaport.
The tech-logistics start-up partnered with Mobility 54 Investment SAS, a corporate venture capital unit of Japan's Toyota Tsusho and its affiliate CFAO Group, to buy a 'significant stake' in Kamtar International for an undisclosed amount.
Kamtar, founded in February 2018, links truckers to small businesses and larger corporates in West Africa.
Sendy, which opened shop in 2015, aims to leverage its technology, expertise, and broader range of services to bolster Kamtar's capabilities in Cote d'Ivoire and Senegal, with plans to expand to other French-speaking West African countries by the end of 2022.
According to Sendy founder and CEO Mesh Alloys, the goal is to identify potential synergies and support Kamtar's growth while understanding the local market.
Sendy has about 10,000 delivery drivers on its platform and raised $19.9 million in January 2021 to expand beyond the East African Community bloc into Western, Southern, and Northern Africa.
