Dealflow | March 5, 2024

Adenia Capital acquires South Africa last-mile delivery platform The Courier Guy

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, March 5 — E-commerce in South Africa is growing at an annual rate of 15%. The Courier Guy, through its network of 2,200 delivery drivers and 1,100 smart lockers, provides last-mile delivery services daily to thousands of business and individual customers in South Africa.

“The acquisition of The Courier Guy underscores our collective belief in the vast potential of the last-mile delivery sector,” said Florent de Boissieu of Adenia, which is acquiring the company alongside co-investors Proparco, South Suez Capital and DEG, Germany’s development finance institution.

Growth equity

Adenia, a sustainability-focused private equity investor in Africa, made the investment via its fifth fund, which secured a $300 million first close at the beginning of last year. The Courier Guy is the fund’s second investment overall and in South Africa.

The fund purchased a majority stake in South African solar provider Enfin in October last year.