Kenyan e-commerce startup AfricaSokoni has acquired Nigeria company Bolorims to expand into the West African country via a new platform.
Launched in January 2018, AfricaSokoni is an online marketplace that brings African consumers and retailers together, offering a wide selection of products.
Disrupt Africa reported last year the startup had banked significant amounts of funding as it plans expansion both within and outside Africa, and it has now taken steps in that direction with the acquisition of Nigerian e-commerce platform Bolorims.com.
The deal, which gives Bolorims a 10 per cent stake in AfricaSokoni, creates a new entity in Nigeria, Bolosokoni.com, with AfricaSokoni continue to trade as before in Kenya.
“This partnership will pave the way for AfricaSokoni to enter the huge and very important Nigerian market,” said AfricaSokoni chief executive officer (CEO) Ebrima Fatty.
“The new entity in Nigeria, as a result of this partnership, will be a subsidiary of the AfricaSokoni Group. We are looking forward to another thrilling year, as we take AfricaSokoni, together with our customers, to new heights and create new memories.”