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Wednesday, July 17, 2024

Patrice Motsepe invests more into technology-led trucking company

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Patrice Motsepe has invested more into South Africa’s own “Uber for Trucks” through his company African Rainbow Capital (ARC) which made an additional investment into Linebooker.

ARC bought into the technology-led trucking company in 2018 when it was just a year old.

The Covid-19 pandemic, according to the company, has accelerated the demand for Linebooker’s unique service offering, which has resulted in the business experiencing solid growth prospects in a relatively short period of time.

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Last week, ARC announced that it has decided to make additional investments into Linebooker but did not disclose how big of a stake it now has.               

ARC said that Covid-19 has prompted businesses to look for more cost-efficient logistics solutions to increases their productivity levels which has accelerated the demand for Linebooker’s service offering.

On its website, Linebooker describes itself as South Africa’s largest online transport network.

It operates similarly to e-hailing ride services like Uber by connecting customers with multiple pre-approved transporters for moving freight. ARC said its typical clients include several major blue-chip companies, mining companies, mega farmers as well as a range of other large and small businesses.

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“We are investing in a disruptive solution that is fundamentally changing the transport industry. This industry will never be the same and now offers a new system that provides great value to all players,” said ARC chairperson, Patrice Motsepe.

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