FedEx To Acquire South Africa’s Supaswift

0
549

fedex3FedEx Corp is set to acquire Supaswift’s businesses in South Africa, Malawi, Mozambique, Swaziland and Zambia and three other countries.

According to Frederick W. Smith, Chairman, President and Chief Executive Officer of FedEx Corp, “The acquisition of Supaswift’s businesses, once closed, will provide customers with greater access to some of the world’s most rapidly growing economies.”

He added that deal is an important step to FedEx’s international growth strategy and further strengthens to its portfolio.

Supaswift’s businesses in Botswana and Namibia. These acquisitions will operate under the FedEx Express business unit and the transaction is subject to necessary regulatory approvals and customary closing conditions.

After the deal is completed, FedEx Express will have direct access across the seven markets to 39 facilities and will welcome approximately 1,000 of Supaswift’s team members, who will join the FedEx team.

Africa is currently the world’s fastest growing continent. Over the next decade its GDP is expected to rise by an average of 6% a year. South Africa alone makes up 21% of Africa’s total GDP, and is home to most major businesses in this region.

fedex-1“We are joining one of the most admired companies and best places to work globally. The transaction, once closed, will put us in a solid position to meet the growing needs of our customers, representing a common commitment to offer an enhanced service portfolio and superior quality to both current and prospective customers,” said Andrew Lovell, Chief Executive Officer, Supaswift (Pty) Ltd.

Founded in 1990, in 2005 Supaswift merged with MyExpress Pty Ltd., a firm which had been offering FedEx Express international services in Southern Africa since 1991.

The integration of Supaswift’s businesses will commence once the transaction has been closed and is expected to be achieved gradually over a number of months.