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Mohammed Akoojee’s Imperial Logistics partners with UbiPharm to create Africa’s largest healthcare distribution network

Akoojee owns 0.19 percent of Imperial Logistics, a leading logistics company.

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Mohammed Akoojee.

Imperial Logistics, an Africa-focused provider of logistics and market access solutions, has recently formed a strategic partnership with UbiPharm, a leading player in the African healthcare industry, to create one of Africa’s most extensive healthcare distribution networks.

Imperial Logistics, a leading logistics company, provides customized value-add logistics, supply chain management and route-to-market solutions. The company is managed by South African Mohammed Akoojee, who owns a beneficial 0.19-percent stake.

Imperial Logistics explained in a recent press release that the partnership with UbiPharm will play a key role in the company’s move to provide complementary continental route-to-market solutions to healthcare principals and clients, leveraging best-in-class operations and commercial services.

According to the terms of the strategic partnership, Imperial and UbiPharm will retain their respective business autonomy, while the strategic alliance will improve access to medicine, vaccines and other healthcare products for patients and consumers in 40 African countries.

The move, which is expected to result in one of the continent’s most extensive healthcare distribution networks, will be aimed at meeting the growing demand from the healthcare industry for a global, secure and efficient continental solution in Anglophone, Francophone and Lusophone African countries in accordance with Good Distribution Practices.

While commenting on the agreement, Akoojee said the strategic alliance with UbiPharm aligns with the company’s goal to improve people’s lives and connect every African patient to quality healthcare on a daily basis.

He went on to say that the partnership is also strategic in the sense that it is aimed at expanding Imperial Logistics’ geographic footprint, as it expands into other market segments on the continent, including Francophone and Lusophone African countries.

“Our partnership with Imperial is consistent with our strategy of continuous innovation in order to meet the changing needs of populations,” UbiPharm Group CEO Gerard Mangoua said. “Through this alliance, we will be able to strengthen access to health solutions on the African continent.”

Imperial Logistics shares were trading at R64.6 ($4.22) as of press time on Jan. 25, 15 basis points lower than their opening price on the Johannesburg Stock Exchange this morning.

The logistics company’s market capitalization is currently valued at R13.1 billion ($856.4 million), while Akoojee’s 0.19-percent stake being valued at R24.1 million ($1.6 million).

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Ghanaian tycoon Daniel McKorley’s McDan Group to donate land to students for soya bean cultivation

McKorley is a well-known businessman and the founder and CEO of the McDan Group.

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Ghanaian tycoon Daniel McKorley.

Ghanaian tycoon Daniel McKorley has announced plans to donate three to five acres of land to students for soya bean cultivation as part of the efforts to increase food sufficiency in Ghana, as food prices continue to rise due to supply constraints exacerbated by the war in Ukraine.

According to GhanaWeb, the leading business mogul announced the decision at the third edition of the McDanYouthConnect series of events, explaining that the move is part of a concerted effort to improve agriculture and promote food sufficiency in the country. He added that students will be given the opportunity to cultivate one or two products and create value for the nation.

His decision, which was applauded by all dignitaries and persons who attended the event, resulted in the release of 100 acres of land for the block farming project.

McKorley went on to advise students to continue engaging with the “right” people to increase their knowledge base, to network, and to ask for help when trying out something new, as such an attitude in life will allow them to unlock their future potential and grow.

McKorley is a well-known businessman and the founder and CEO of the McDan Group of Companies, an Accra-based transportation and logistics group with three divisions: McDan Shipping, McDan Aviation, and McDan Logistics.

Aside from its core operations in Ghana, the group maintains active operations and an extensive presence in West African countries such as Sierra Leone, Liberia, and Equatorial Guinea through its broad interests in shipping, logistics, and aviation.

McDan Group, led by McKorley, opened its first private jet terminal at an international airport in Accra, Ghana’s capital city, earlier this year, with three planes and one helicopter operating under the McDan Aviation brand.

The jet terminal will serve high-end clients seeking to maximize luxury clients and corporate executives seeking a quick and efficient commute for business purposes.

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Johannesburg-based entrepreneur Tasoulla Hadjigeorgiou’s LottoStar secures investment from UK bookmaker

LottoStar was founded in 2014 as a family-led business.

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Johannesburg-based entrepreneur Tasoulla Hadjigeorgiou.

LottoStar, a South African online betting platform led by Johannesburg-based businesswoman Tasoulla Hadjigeorgiou, has received a significant investment from UK bookmaker Betfred as part of a move to expand operations in the local market and throughout the region.

The investment is part of a strategic partnership in which Betfred will acquire a majority stake in the Johannesburg-based online betting company for an undisclosed sum.

It comes nearly a year after the UK bookmaker made its first investment in the region with the acquisition of Sepels Sports Bet and the Betting World, both owned by Phumelela Leisure.

With the recent agreement, Betfred, which operates 1,500 high street betting shops in the UK and over 50 shops in South Africa, will now be able to deliver value across LottoStar’s 70 locations in South Africa.

The strategic partnership, which has been dubbed “transformative” for the South African sports betting market, will expand LottoStar’s online betting offering and position the company as a dominant player in the region.

Hadjigeorgiou, LottoStar founder and CEO, stated that the partnership with Betfred will not only expand its offerings and reach, but will also provide quality services to its customers.

“We are confident that this partnership will expand our offering and provide our customers with the highest quality services. Our partnership also paves the way for greater collaboration and expansion,” she said.

LottoStar was founded in 2014 by Hadjigeorgiou and her business partner – her husband – as a family-led business with an innovative model to offer an online fixed-money betting platform in South Africa.

It has grown into South Africa’s leading brand for fixed-odds numbers betting and Live Games since its inception more than eight years ago, thanks to high-profile marketing campaigns and ongoing efforts to better its communities through key corporate social responsibility initiatives across the country.

LottoStar took in a total of €1.7 billion ($2.06 billion) in bets in 2020, as it provided users with a variety of services such as lucrative payouts on games that ran multiple times a day and paid out winners almost instantly, as well as bets on the live outcomes of traditional casino games such as blackjack, poker, and roulette.

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Egyptian tycoon Ahmed El Sewedy’s electric company secures $150-million loan from IFC

Elsewedy Electric, an Egyptian international electrical corporation, was founded in 1938 by the El Sewedy family.

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Ahmed El Sewedy.

El Sewedy Electric, a multinational cable and electrical products manufacturer led by Egyptian multimillionaire businessman Ahmed El Sewedy, has received a $150-million loan from the International Finance Corporation, a sister organization of the World Bank and a member of the World Bank Group.

The $150-million loan facility will support the group’s expansion and the modernization of its manufacturing operations. Presently, the company is making efforts to increase access to renewable energy in several African countries, which aligns with the IFC’s strategy to deliver energy solutions in various regions of Africa where access to power remains limited.

“The IFC’s $150-million loan, alongside First Abu Dhabi Bank and European Arab Bank as participants, will support El Sewedy Electric in financing new solar energy facilities in Africa, improving its energy efficiencies at existing manufacturing facilities, and building and acquiring new plants globally, as and when needed, to increase its competitive edge on a global scale,” the multinational electric company said.

El Sewedy, president and CEO of El Sewedy Electric, said the company is excited about the opportunity to collaborate with the IFC to make a significant impact on sustainable infrastructure development for everyone on the continent.

He added that, with the funding, El Sewedy Electric will assist its customers in addressing the transition to a low-carbon economy through renewable projects and energy-efficient products.

The latest funding solidifies the IFC’s commitment to reducing greenhouse gas emissions in Egypt and Africa as a whole through strategic investments in climate projects.

Since 2016, the Washington, D.C.-based financial institution has invested a total of $1 billion in climate projects in the North African country, including a $100-million loan to the Commercial International Bank for the issuance of Egypt’s first private sector green bond in 2021.

In addition to plans to provide energy solutions in regions of Africa where access to power is limited, the investment will reduce greenhouse gas emissions by the equivalent of more than 60,000 tonnes of CO2 per year through solar plants and El Sewedy Electric’s own increased efficiencies in its manufacturing facilities across the countries in which it operates.

El Sewedy Electric, an Egyptian electrical corporation, was founded in 1938 by the El Sewedy family. The family, represented by Sadek, Ahmed, and Mohammed El Sewedy, owns 68 percent of the corporation, a stake worth EGP9 billion ($479 million) at the time of writing.

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