US-based Pigee to acquire 55% stake in Nigerian logistics startup ShipAfrica
The acquisition will occur in three stages over the next 18 months and will be funded through a combination of cash and equity, according to Pigee CEO Leroy Lawrence.
US-based logistics-tech firm Pigee has reached an agreement to acquire a 55% stake in Nigerian startup ShipAfrica, establishing a presence in Africa and gaining access to local infrastructure. The acquisition will unfold in three stages over the next 18 months, funded through a mix of cash and equity, according to Pigee's CEO, Leroy Lawrence.
Pigee CEO Leroy Lawrence highlighted that the deal grants the company its first substantial foothold in West Africa, combining its logistics software and international shipping infrastructure with ShipAfrica's local operations, carrier relationships, and logistics network. ShipAfrica will maintain its name, management, and team of over ten employees, with founder and CEO Walter Isoko staying on as the company's largest shareholder.
The consolidation aims to address challenges in African commerce, such as the high costs and difficulties associated with moving goods across fragmented logistics networks, particularly for businesses seeking to sell beyond their home markets. In 2025, the World Bank reported that bureaucratic delays and hidden costs inflate regional trade costs by up to 25% in Africa.
Pigee, founded in 2022, has been focused on building logistics infrastructure that connects merchants to customers outside their home markets. The company's CEO, Lawrence, previously struggled with shipping products abroad and decided to create Pigee to resolve this issue. Pigee's software business has grown to serve over 300,000 customers, and the company plans to expand its network of local last-mile delivery carriers, hubs, and international shipments in Africa.
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