Graphic Business News

Afrimax exits Busy Internet for local investor

By: Graphic Business
Category:
Mr Praveen Sadalage, CEO, BusyInternet Ghana
Mr Praveen Sadalage, CEO, BusyInternet Ghana

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.

The move is part of Afrimax Group’s strategy aimed at reorganising its corporate structure.

The reorganisation is to enable continued improvement in the delivery of the group’s strategic goals and to allow it to focus on key commercial and financial priorities in focus markets.

In a press statement copied to the GRAPHIC BUSINESS, the Group Chief Executive Officer (CEO) of BusyInternet Ghana Limited, "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,” he said.

He added that the group was also grateful to all employees, “whose drive and commitment enabled Busy Internet to become a leading provider of digital services in the country.”

“We are confident that AI Technologies Limited will build on the strength of Busy Internet and enhance the services provided to customers," he added.

New owners
The CEO of ZFJ Investments, Dubai, Mr Javed Muhammad, said the transaction was a strategic acquisition given Ghana’s telecom and IT Ecosystem and was confident that they would be able to provide top of the line products and services to their customers and valued shareholders.

The CEO of AI Technologies Ltd, Mr Amit Gau, also noted that his outfit was “happy to be part of Busy Internet 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.”

The CEO of BusyInternet Ghana, Mr Praveen Sadalage, said his outfit welcomed the successful transaction that would ensure 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 AI Technologies Ltd. in Ghana.”

About AI Technologies.
AI Technologies is a Ghanaian FinTech company with operations in Ghana, Sierra Leone, Guinea and India. AI Technologies owns and runs Ezeepay, an online payment platform that allows customers to receive remittances from outside Ghana, make payments and transfer money.

About BusyInternet.
BusyInternet has been at the heart of internet connectivity in Ghana since it opened the first state-of-the-art, first of its kind, public access internet facility in 2001.

BusyInternet has grown from humble beginnings as a pioneer mixed use technology centre to a 5-time CIMG award winning Internet Service Provider, with customers in five regions across Ghana, and now an award winning 4G LTE Internet Service Provider.

BusyInternet relaunched in January 2016 as a fully fledged 4G LTE internet service provider with the brand name Busy