The Afrimax Group has successfully completed the sale of its 84.51 percent shares in Busy Ghana Limited to AI Technologies Limited, a company incorporated in Ghana.
The move is part of the Group’s strategy aimed at reorganizing its corporate structure with a view to enabling continuous improvement in the delivery of its strategic goals to allow it to focus on key commercial and financial priorities in its focus markets.
In a joint statement Friday, Afrimax Group CEO, Lars Stork said the sale feeds into the company’s plan to build the next-generation of 4G businesses 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 expressed the company’s appreciation 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,” he added.
On his part, BusyInternet Ghana CEO, Praveen Sadalage said the successful transaction will reposition the 4G player to deliver quality services to its customers. He has assured the company will “make great things happen” in Ghana.
AI Technologies Limited CEO Amit Gaur expressed excitement over the deal, saying they 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.”
ZFJ Investments, Dubai is the majority shareholder of AI Technologies Limited. CEO of ZFJ Investments, Javed Muhammad was confident the deal will transform the 4G market in the country.
“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,” he said.