Hi, welcome to Tech This Evening, an After-Work Tech Newsletter from Techparley Africa. Sure, there is a lot to unpack right now. Sit back, while I walk you through.
Top Story: Jiji Acquires Bikroy in Bangladesh as “Compete-Then-Buy” Strategy Expands Beyond Africa
Jiji, the Lagos-headquartered classifieds marketplace, has acquired Bikroy, Bangladesh’s largest online classifieds platform, just 13 months after entering the South Asian market as its direct competitor.
The deal marks Jiji’s first acquisition outside Africa and signals a continued evolution of its expansion strategy, which relies on entering markets organically, competing aggressively, and then acquiring leading players once a dominant position emerges.
Chief executive officer Anton Volianskyi declined to disclose the transaction value, stating that the acquisition was funded through “internal resources and shareholder support”.
“This is a deliberate strategy, and we are direct about it,” Volianskyi said. “In each case, the sequence is the same: enter organically to validate the opportunity, build a competitive position on the ground, and then evaluate whether organic scaling or consolidation gets us to category leadership faster.”
Other Tech News Stories You Should Read:
Business Corner: How to start a profitable e-commerce business in Africa’s growing digital market. Read now.
Misti AI Raises £250,000 to Transform Industrial Cameras Into AI-Powered Sensors. Read now.
General Analysis Raises $10 Million to Tackle Security Risks in Autonomous AI Systems. Read now.
On Startup Spotlight:
Valu and Fawry Partner to Expand Instalment Credit Solutions and Egypt’s Digital Payments Ecosystem
Valu, one of Egypt’s leading consumer finance platforms, has entered a partnership with Fawry, the country’s dominant electronic payments provider, to introduce flexible financing options on the myfawry mobile application.
The agreement will enable users of the myfawry app to access Valu’s instalment-based payment solutions when paying for a wide range of services, marking a significant step in the integration of digital payments and consumer financing within Egypt’s rapidly evolving fintech ecosystem.
“Our partnership with Fawry represents an important step that reflects our ongoing commitment to supporting digital transformation in Egypt by enabling a wider segment of users to access flexible and secure financial solutions,” said Omar Abdelhady, Chief Growth & Product Officer, Valu.
“Our collaboration with Valu marks an important step within our ongoing efforts to support Egypt’s electronic payments ecosystem and digital transformation journey. We continuously strive to provide flexible and secure payment solutions that cater to users’ daily needs while ensuring a seamless and integrated digital experience,” said Heba El-Awady, Chief Business Officer, Fawry.
Quadri Adejumo brings you all the details. Read here.
Also Read:
Egypt’s Byit Expands Into UAE After $1.1M Raise, Unveils AI Tools to Transform Gulf Real Estate Market. Yakub Abdulrasheed brings us the details, here.
Quote of the Day:
“Any sufficiently advanced technology is equivalent to magic.” – Arthur C. Clarke.
Thank you for joining me yet again this evening. Stay safe, and see you tomorrow for the next tech newsletter.
Best, Quadri
