Afrimax Group announces sale of BusyInternet Ghana Ltd

16 February 2018

Mergers, Acquisitions and Financial Results

The Afrimax Group has successfully completed the sale of one of its African subsidiaries, BusyInternet Ghana Limited to AI Technologies Limited, a company incorporated in Ghana.

A statement copied Citi Business News said the move is part of the Afrimax Group’s strategy aimed at reorganizing its corporate structure with a view to enabling continued improvement in the delivery of its strategic goals, thereby allowing it to focus on key commercial and financial priorities in its focus markets.

Lars Stork, Group CEO stated that “The successful sale of our business in Ghana is in line with our restructuring strategy aimed at building a next-generation 4G business in Africa. We are very grateful to the government of Ghana for their support throughout our operations, which allowed us to extend digital inclusion to thousands of Ghanaians.

“We are also very grateful to all our employees, whose drive and commitment enabled BusyInternet to become a leading provider of digital services in the country. We are confident that AI Technologies Limited will build on the strength of BusyInternet and enhance the services provided to customers.”

Javed Muhammad, CEO ZFJ Investments, Dubai said, “This was a strategic acquisition given Ghana’s telecom and IT Ecosystem and we are confident we will be able to provide top of the line products and services to our customers and value to our shareholders. Best wishes to the BusyInternet Team”

Amit Gaur, CEO, AI Technologies Ltd stated that “We are happy to be part BusyInternet and its success in the Ghanaian market. We will be investing resources and funding to take this very popular local brand to the next level.”

Praveen Sadalage CEO, BusyInternet Ghana said “We welcome the successful transaction ensuring continuation for BusyInternet to deliver quality services to its esteemed customers and ‘make great things happen’ in Ghana. ZFJ investments are the lead partners in the deal through their subsidiary A I Technologies Ltd. in Ghana.”

Source: Citi Business News