Allied secures funds to steer Africa expansion
JOHANNESBURG, (CAJ News) – ALLIED Mobile Africa has secured funds to the tune of $55 million (approximately R800 million) to finance the company’s growth in South Africa as well as its expansion on the rest of the African continent.
The funds have been secured with a strategic finance and partnership agreement with the Public Investment Corporation (PIC).
Allied Group’s Chief Executive Officer, Jacqueline Cole-Courtney, said the company’s objective is to be present in every country in Africa hence the funding from the PIC would assist in that regard.
“Our geographical expansion program is being conducted in a very cost-effective and efficient manner, as the core operations are run from Allied’s existing Sub-Saharan offices which include eight major hubs and four repair centres located throughout Sub-Saharan Africa, with certain central core functions located in a centralised offshore office, which eliminates the need to duplicate functions,” said Cole-Courtney.
Allied is a fast-growing mobile communications market in sub-Saharan Africa, which is supported by strong demographic and economic fundamentals.
From the provision of full supply chain and logistics services, to full turn-key white-label retail operations enablement, Allied’s market offering and geographical coverage continue to grow as the company leverages favourable market conditions together with its increasing experience, capabilities and relationships.
Leveraging its leadership position in South Africa and other existing markets, the company has been rapidly expanding its presence into a group of high-growth African countries, with sales volumes expecting to grow between 15 percent and 20 percent annually.
These countries include Mozambique, Namibia, Zambia, Uganda, Rwanda, DRC, Angola, Zimbabwe, Lesotho, Swaziland, Botswana and Kenya.
– CAJ News
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