Pigee Acquires 55% of Nigeria’s ShipAfrica to Expand African Logistics Network

US logistics-tech company Pigee has agreed to acquire a controlling 55% stake in Nigerian logistics startup ShipAfrica, giving the company an established operating base in one of West Africa’s largest markets. The acquisition will be completed in three stages over 18 months and financed through a combination of cash and equity, Pigee CEO Leroy Lawrence told TechCabal. The companies have not disclosed the value of the transaction.

Lawrence said the terms of each tranche could change depending on how much capital Pigee raises during the acquisition period. ShipAfrica will continue operating under its existing name, with founder and CEO Walter Isoko remaining in charge. Its management team and more than 10 employees will also remain with the company.

Once the transaction is completed, Pigee will become ShipAfrica’s majority shareholder, while Isoko will remain the company’s largest individual shareholder.

The deal gives Pigee access to ShipAfrica’s Nigerian logistics network, carrier relationships, customers and physical infrastructure as it expands into Africa. ShipAfrica will gain access to Pigee’s shipping technology and international logistics infrastructure.

Why Pigee Chose ShipAfrica

Pigee’s expansion strategy extends beyond shipping software. The company wants to build a network of last-mile carriers, local hubs and international shipping services that can support merchants selling across borders.

Nigeria provides an important starting point because ShipAfrica already has customers, logistics relationships and operating infrastructure in the market.

Lawrence said local knowledge was a major factor in choosing ShipAfrica and Isoko.

“I felt that we really needed Walter [Isoko],” Lawrence told TechCabal, pointing to the practical knowledge required to operate in Nigeria.

The two entrepreneurs first met in 2025, when Isoko was exploring the acquisition of Trans-Nationwide Express (TRANEX), a logistics company listed on the Nigerian Exchange. He was interested in TRANEX’s physical infrastructure as a potential asset for ShipAfrica.

Discussions between the two companies eventually developed into a broader acquisition.

The businesses bring complementary capabilities to the transaction. Pigee provides shipping technology, international logistics capabilities and distribution infrastructure, while ShipAfrica contributes local operations, hubs and relationships with logistics providers in Nigeria.

ShipAfrica’s Logistics Network

Isoko launched ShipAfrica in 2022 after working in growth roles at Nigerian delivery company Terminal Africa and consumer credit fintech Credpal. His experience in logistics highlighted the challenges businesses face when moving goods, particularly around cost and reliability.

ShipAfrica serves individuals sending parcels, merchants and third-party logistics companies that use its platform to fulfil shipments for their customers.

The company uses partner hubs where products can be received, packaged and transferred to carriers. Its platform also brings different shipping options together, allowing customers to compare and manage shipments through one system.

ShipAfrica said in March 2024 that it had processed more than ₦2 billion ($1.5 million) in shipments during the previous 12 months. Isoko said annual transaction value increased to more than ₦7 billion ($5.3 million) in 2025. The company operates primarily in Nigeria but also has customers in markets including Kenya and Ghana.

That existing network gives Pigee a base from which to expand its logistics operations across Africa without having to build a Nigerian operation from scratch.

Technology Integration to Follow

ShipAfrica is not expected to undergo an immediate operational overhaul following the acquisition.

The company will retain its existing name, management structure and team, with Isoko continuing as CEO. Senior managers who hold shares in the company will also remain involved.

The businesses are considering eventually using a combined brand format such as “Ship Africa powered by Pigee”, although ShipAfrica will continue serving customers under its existing operating model for now.

Technology integration will take place gradually.

ShipAfrica plans to move more of its operations onto Pigee’s technology, including its customer relationship management system and shipping aggregator. Pigee’s platform will support functions such as pricing, shipping labels and package tracking.

The companies also plan to combine elements of their sales and distribution infrastructure. Pigee’s customer acquisition capabilities will become available to ShipAfrica as the combined business expands.

Lawrence said customers should continue interacting with ShipAfrica in largely the same way while Pigee’s technology and distribution systems are integrated behind the scenes.

African Logistics Sector Sees More Consolidation

The acquisition comes as technology companies across Africa increasingly use M&A to gain market access, infrastructure and distribution capabilities.

TechCabal Insights recorded 84 M&A transactions worth $11.4 billion in disclosed value across Africa’s technology ecosystem between January and August 2026, compared with 68 deals during the whole of 2025.

Financial services has accounted for much of the activity, while logistics is also seeing consolidation as companies seek scale and access to established infrastructure.

In 2025, Senegalese logistics company Logidoo acquired a majority stake in Ivorian freight startup Kamtar, combining digital logistics technology with physical freight infrastructure.

Funding for African logistics and mobility startups has also continued despite tighter investment conditions. These startups raised $115 million during the first half of 2025, compared with $217 million during the same period a year earlier.

For Pigee, the ShipAfrica acquisition provides a route into Nigeria while giving the company local infrastructure and operating experience it can use as it develops a broader African logistics network.