Egypt-based Bosta raises more funding from Avanz Capital
TLDR
- Avanz Capital Egypt and Avanz Manara invest in Bosta, an Egyptian technology-based shipping and logistics company for E-commerce businesses.
- Bosta, founded in 2017, has delivered over 20 million shipments and is considered a powerhouse in the industry.
- Avanz Manara aims to support SMEs in Egypt by investing in companies like Bosta and venture capital funds focused on SMEs.
Avanz Capital Egypt (ACE), the private capital arm of Avanz Capital Management in Egypt, and the General Partner of Avanz Manara for Private Equity (Avanz Manara) have jointly announced their investment in Bosta, in collaboration with other reputable institutional private capital firms.
Bosta provides technology-based shipping and logistics solutions for E-commerce businesses in Egypt. Founded in 2017 by Mohamed Ezzat and Ahmed Gaber, Bosta has rapidly evolved into a powerhouse, successfully delivering over 20 million shipments.
Aligned with its mandate, Avanz Manara focuses on fostering the development of SMEs in Egypt through direct co-investments or by investing in private equity and venture capital funds dedicated to SMEs.
Key Takeaways
The market opportunity for last-mile delivery in Africa is immense due to a large and rapidly growing population and increasing urbanization. Additionally, Small and medium-sized businesses in Africa make up 90% of all businesses on the continent and are essentially the backbone of the continent’s economy but they still struggle with the logistics and delivery side of things. This creates a need for efficient last-mile delivery solutions. But the lack of infrastructure presents significant challenges. Innovative solutions such as mobile-based delivery services and drone delivery are emerging to address these obstacles and tap into the vast potential of the African last-mile delivery market.
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