3G Mobile, the South African-based distributor of mobile phones and tablets to major retailers across Sub-Saharan Africa, recently sold a significant equity stake to a consortium of investors in a significant milestone on its path to becoming the leading mobile phone distributor in the region.
Since its inception in 2006, 3G Mobile has achieved a phenomenal growth trajectory that saw its turnover grow to multi billion Rand levels. It has built a pan-African business spanning nine countries based on a powerful partner network and excellent service. It was named Samsung Handset Supplier of the Year in 2012 and Best Distributor in 2013.
Dana Gordon-Davis of Novitas Capital Advisors, comments, “With the market opportunity and demand far outstripping the internal resources and balance sheet of 3G Mobile, the time had come to find a strategic investor capable of harnessing the company’s distribution network and providing the resources and capital required to accelerate its market growth and product offering. We were confident we could deliver just that partner”.
Bradley Conarroe of Novitas Capital Advisors added “We know investors that are looking to invest in warehousing, distribution and service networks across the continent, to capitalise on Africa’s growing population and rising wealth. With 3G Mobile’s logistics and distribution network potential synergies with these investors’ other portfolio companies was key to ensuring the parties were able to reach agreement on valuation.”
By bringing in a strategic investor with a strong balance sheet, 3G Mobile is now well positioned to sustain its growth trajectory.