YouTube has named its 2022 Creator Class of its Black Voices Fund – with 11 South African channels making the cut. In total, 26…
In a reported first of its kind on the African continent, Imperial, a company focused on providing integrated market access and logistics solutions have announced an investment in and partnership with Lori Systems to allow the expansion of e-logistics technology solutions across Africa.
Lori Systems aims to expand its e-logistics platform by driving the road freight industry in Africa
This partnership in the Southern African Development Community (SADC) region will develop and amplify Africa’s road freight industry via digital innovations. Through the partnership with Imperial, Lori System’s proprietary platform will be accessed in order to provide shippers and transporters across Southern Africa with access to software applications and data that are flexible.
This will result in cost savings as operations and fleets are managed more efficiently.
In an official press release, Mohammed Akoojee, Group CEO of Imperial, explains the benefits of the partnership and how business opportunities will present itself to African citizens as innovative solutions are developed.
“We believe that Lori solves a real problem when it comes to matching volatile demand and reliable supply in Africa’s highly fragmented road freight industry. As a business that is focused on efficient and innovative logistics and market access solutions, this is a crucial business investment for Imperial and the continent. Investing in Lori Systems will enable the creation of further business opportunities in Africa and provide efficiency for Imperial’s clients and transport operators with whom we collaborate.”
Lori Systems, operational since 2017, is one of the leading e-logistics platforms in Africa that facilitates the transportation of goods by road or rail. The e-logistics startup aims to develop technology that offers practical solutions to combat the challenges faced in the frontier markets.
Such challenges addressed by Lori Systems, include the lack of visibility, coordination, and data in the sector.
Expansion through digital innovation
The Imperial Venture Fund, managed by a US venture capital firm, Newtown Partners, invested in Lori Systems to contribute to their vision of growing in East and West Africa.
Efficiency has increased across East and West African markets as Lori Systems provides end-to-end visibility for customers as well as integrations across the supply chain.
The partnership between Lori Systems and Imperial combines technology and expertise in logistics to expand to Southern African markets through digital innovation.
Joshua Sandler, co-founder, and CEO of Lori Systems said that the partnership supports the objective of expanding to markets across Southern Africa and beyond.
“Lori Systems partnership with Imperial is validation of our vision of a new era of digitally-enabled and efficient logistics not only in Africa but in frontier markets more broadly. As a leading African logistics and market access player, innovation is at the heart of Imperial, and we couldn’t be more proud to partner with an industry veteran that embraces this digital disruption while expanding Lori’s reach across Southern Africa.”
The future for Lori Systems
The Covid-19 pandemic has highlighted the need for efficiency in logistics, transportation, and digital solutions in Africa. Lori Systems are attracting markets outside Africa as it provides digital solutions and additional value through technology.
Llew Claasen, managing partner of Newtown Partners, showed an interest in investing in the road freight industry in Africa.
“We believe digital freight exchanges are a compelling business model in emerging markets that complement Imperial’s traditional strength in contracted road freight. We have considered many road freight investment opportunities on the African continent and believe that the Lori Systems team, product, and the opportunity that presents itself through the Imperial partnership will create a lot of value.”
The partnership between Imperial and Lori Systems aims to provide additional support in order to drive East and West African markets as well as accelerate Lori’s expansion across Southern African markets.
Featured image: Cytonn Photography via Pexels