Saturday, June 15, 2024

Imperial logistics eyes growth opportunities in Africa


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Imperial logistics is eyeing opportunities for growth in East and West Africa chief executive Marius Swanepoel has said.

The move has been informed by the company’s exponential growth since setting foot in Africa eight years ago.

“We have grown from zero into a business with an annual turnover of R10 billion over that period,” said Mr Swanepoel.

“Pharmaceuticals forms the largest part of its business in Africa but there are still a lot of opportunities to grow this business in Nigeria and Ghana.”

The logistics firm last year acquired 70% of Kenya-based pharmaceutical distributor Surgipharm for R500million as part of its African growth strategy.

“There are massive opportunities for growth. Normally we look for acquisitions and use our expertise to grow acquisitions,” he added.

Imperial Holdings anticipates the unbundling and separate listing of its motor business from its logistics business to occur in the fourth quarter of this year.

Mohammed Akoojee, the acting chief executive of Imperial Holdings, said yesterday that there was nothing under the group’s control that could derail the unbundling.

Akoojee said the unbundling of Motus, Imperial’s motor business, and its separate listing on the main board of the JSE was still subject to approval by shareholders at a general meeting on October 30.

On unbundling, Imperial Holdings would be renamed Imperial Logistics.

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