Source: Unifreight Africa invests US$2m in FedEx takeover – herald
Nyore Madzianike
Senior Reporter
UNIFREIGHT Africa Limited, which is into logistics, has invested more than US$2 million into an agreement to buy an 86,67 percent shareholding in Cheetah Express Logistics, the sole authorised Global Service Participant (GSP) for FedEx Express in Zimbabwe.
Unifreight announced in a statement that the acquisition will be effected through the purchase of both direct and indirect shareholding held by the seller, resulting in the company becoming the majority shareholder in Cheetah Express Logistics.
The total consideration of US$2 080 000 represents approximately 15,7 percent of the company’s market capitalisation on the Zimbabwe Stock Exchange.
Cheetah Express Logistics is the sole authorised Global Service Participant for FedEx Express in Zimbabwe, a relationship that has existed since 1992.
Originally established under the trade name Supaswift, Cheetah provides courier services, including pick-up and delivery on behalf of FedEx Express customers across Zimbabwe.
The company also provides customs clearance and handling for visa applicants.
The acquisition will provide Unifreight with an immediate foothold in the high-growth express courier market, adding a well-established business with a 30-year track record as Zimbabwe’s sole authorised FedEx Express Global Service Participant.
The transaction is expected to enhance medium-term profitability and position Unifreight as a comprehensive end-to-end logistics provider with national reach and global connectivity.
Announcing the acquisition, Unifreight said: “The board of directors of Unifreight Africa Limited is pleased to advise shareholders and the investing public that the company has entered into a sale of share agreement for the acquisition of an effective 86,67 percent shareholding in Cheetah Express Logistics (Private) Limited, the sole authorised Global Service Participant for FedEx Express in Zimbabwe.
“This acquisition marks a significant step in Unifreight’s growth strategy, providing immediate entry into the high-growth express courier segment and strengthening Zimbabwe’s connection to the global economy.
“The acquisition will be effected through the purchase of both direct and indirect shareholding held by the seller, resulting in Unifreight becoming the majority shareholder in Chetah Express Logistics.”
Giving background to the transaction, the company said on February 27, 2026, Unifreight Africa Limited and Runcourt Investment (Private) Limited executed a Sale of Shares Agreement for the acquisition of 86,67 percent shareholding in Cheetah Express Logistics by Unifreight.
The company said the transaction was the subject of cautionary statements issued on January 20, 2025 and March 18, 2026.
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