Published: 18 April 2026

Logistics firm Unifreight Africa Limited has invested over US$2 million to acquire an 86.67 percent shareholding in Cheetah Express Logistics, the sole authorised Global Service Participant (GSP) for FedEx Express in Zimbabwe.

In a statement, Unifreight said the transaction will be implemented through the purchase of both direct and indirect shares held by the seller, resulting in the company becoming the majority shareholder in Cheetah Express Logistics.

The total consideration of US$2.08 million represents approximately 15.7 percent of Unifreight's market capitalisation on the Zimbabwe Stock Exchange, underscoring the strategic significance of the deal.

Cheetah Express Logistics has maintained its relationship with FedEx Express since 1992, originally operating under the trade name Supaswift. The company provides courier services, including nationwide pick-up and delivery on behalf of FedEx customers, as well as customs clearance services and support for visa applicants.

Unifreight said the acquisition provides an immediate entry point into the high-growth express courier market, adding a well-established business with a 30-year operational track record.

"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 company said.

"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 transaction is expected to enhance medium-term profitability and position Unifreight as a fully integrated logistics provider with both national reach and global connectivity.

Unifreight also noted that the deal follows a Sale of Shares Agreement signed on February 27, 2026, between the company and Runcourt Investment (Private) Limited. The acquisition had previously been flagged in cautionary statements issued on January 20, 2025, and March 18, 2026.
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