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Imperial broadens Africa gateway strategy with latest investment

African focused provider of integrated market access and logistics solutions Imperial says its investment of a 24% stake in sales mobility software firm FIGJAM will strengthen the sales capability of its Market Access business unit and bolster its presence in Africa.

The businesses have not disclosed the value of the transaction, effective 1 November 2021.

Leadership at Imperial believe the deal will empower Market Access with leverage to offer clients expansion into the market.

Esha Mansingh, Executive Vice President: Corporate Affairs & Investor Relations at Imperial, said, “This investment in FIGJAM is in line with Imperial’s mobile commerce digital initiative, as part of the Group’s broader digital & IT strategy, and will provide Imperial’s Market Access business, which has a footprint in over 20 African countries, with a critical salesforce automation and van sales enablement solution. This will provide the clients and principals of our Market Access business with the opportunity to increase their reach into markets on the African continent.”

The investment is in line with Imperial’s gateway to Africa strategy added Mansingh. The company remains focused on five key industries: healthcare, consumer, automotive, chemicals, industrial and commodities.

FIGJAM began operations in 2013 and has clients across ten African countries, including distribution companies in Sub-Saharan Africa.

David Boaler, co-founder of FIGJAM, “FIGJAM’s solution is fit-for-purpose and meets the requirements of sales and distribution companies in Africa. We are fast becoming a regional leader in our field and currently facilitate the processing of sales worth millions of dollars every month. The technology market in Africa is thriving, and with our continent consistently recognised as one of the fastest growing consumer markets in the world, we are excited to merge our technical expertise with Imperial’s continent-wide footprint.”

Mansingh said, “The technology of FIGJAM meets the technical, functional and scalability requirements to form part of the digital toolset available at Imperial to provide visibility and integrate with the point of sales, as well as establish partnerships to expand our ecosystem.”

Imperial did not divulge details of other partnerships and stated that it will continue to explore partnership and investment opportunities that align with its gateway strategy.

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