Ringier consolidates its digital marketplaces portfolio across Sub-Saharan Africa and has sold its Kenyan real estate portal, BuyRentKenya, to Rushbox Ltd., who is operating leading real estate platforms in Mauritius and Zimbabwe.
The deal gives Ringier time to strengthen its leading digital marketplaces in jobs and general classifieds under the umbrella of The African Talent Company (TATC).
Rushbox operates PropertyCloud in Mauritius and Property.co.zw in Zimbabwe and will help Rushbox expand into Kenya’s real estate market with relatively smaller players and will help it expand across the region and across Africa.
“Rushbox, led by African tech entrepreneur Garth Drummond, brings significant experience in operating real estate marketplaces in Zimbabwe and Mauritius, offering synergies from which BuyRentKenya will greatly benefit. This step will allow BuyRentKenya to further grow under Rushbox’s leadership while we continue to focus on our strategic priorities around jobs and talents across the Sub-Saharan African Continent,” says Axel Konjack, Head of Marketplaces at Ringier. “We’re convinced Garth and his team are the right partners to further develop BuyRentKenya.”
In 2017, Ringier acquired BuyRentKenya from the founders Jamie Pujara and Nicolas Adamjee who went on to focus on their new ventures.
“Nico and I are extremely pleased that BuyRentKenya will be fully integrated into ROAM. We believe with their leadership, expertise and experience we will take a giant stride forward in realizing our vision of making property search and listing easier and more transparent in Kenya,” Jamie Pujara, Co-founder and CEO BuyRentKenya told TechMoran.
BuyRentKenya, which has operated as a standalone real estate platform within Ringier’s African portfolio, is a strategic step to consolidate resources and focus on scaling its Sub-Saharan African portfolio of jobs and general classifieds platforms. Rushbox will leverage its industry knowledge to further innovate and expand BuyRentKenya’s market position.
“By combining our cross-market expertise and technological strengths with BuyRentKenya’s established brand and local insights, we see a great opportunity to bring new value to the Kenyan real estate market,” Garth Drummond, CEO of Rushbox Ltd.
