CompexAfrica, an online marketplace for buying and selling businesses, including companies in Africa has been launched in Lagos. CompexAfrica has created the platform to allow people list their businesses and match them to buyers using brokers and business advisory companies.
The platform is expected to tackle the dearth of opportunities that exist in small and medium businesses across Africa where little merger and acquisition deals happen, would be customers are encouraged to visit the online platform at www.compexafrica.com to get direct and innovative experience.
“Millions of small and medium business owners in Africa have little opportunities that exist in their businesses. Neither do they have opportunities to scale by buying other businesses. Compex Africa is catalysing the market that exits in the small and medium business space where most businesses in Africa fall in,” the business owners said.
They added that the market would also provide for business brokers, a one-stop-shop for more deals than is ever possible in their independent business. Business brokers who had registered on the site include professional firms with expertise in due diligence, financial analysis and, mergers and acquisition experts.
The site is launching with over 100 businesses already vetted and listed and brokers who have been prequalified. CompexAfrica will keep growing the listing and will become Africa’s biggest market for mergers, acquisition and exits, the owners assured Nigerians.
CompexAfrica Business Development Manager, Fredrick Ereku, said: “Lack of an exit culture in most SME’s makes businesses susceptible to death in Africa. Many small and middle market companies in Africa go through the business life cycle of startup, maturity and end in death. The challenges can vary from bankruptcy, retirement or death of business owner, tough competition or just simple loss of interest by the business owners.”
“We are therefore launching the platform for buying and selling businesses across Africa with the aim of building the sale of business as a visible exit strategy,” Ereku said.
CompexAfrica received seed money and incubation from Sasware. It leverages on Signal Alliance’s over 20 year experience in the tech industry to invest in upcoming start-ups that serve the increasing Nigerian and African economies.