Logistics group Unifreight Africa Limited (Unifreight) has acquired an 86.67 percent stake in Cheetah Express Logistics (Cheetah) – the sole authorized licensee for FedEx Express (FedEx) in Zimbabwe – for US$2.08 million.
The Zimbabwe Stock Exchange-listed transporter said the deal positions it in higher-margin services and marks a strategic shift toward the fast-growing courier segment, complementing its traditional freight operations.
As an agent for FedEx, Cheetah provides pick-up, delivery and customs handling services.
Announcing the transaction, Unifreight said the acquisition would broaden its revenue base.
“The acquisition introduces a service-based, non-asset-heavy revenue stream with strong margin potential, reducing the group’s reliance on traditional freight cycles,” the company said.
Chief executive Richard Clarke described the deal as a milestone for both the company and the local market.
“This acquisition allows enhanced international connectivity and is a significant step for Unifreight, and for Zimbabwean businesses and individuals who need reliable access to global markets,” he said.
The purchase will be funded through a mix of internal resources and debt facilities, with US$210,000 already paid and the balance financed via existing overdraft lines.
The move comes as Unifreight continues to scale its core operations, particularly in tobacco logistics, where volumes are expected to exceed 100 million kilogrammes this year, up from 84 million kilogrammes handled in 2025.
The group is also investing heavily in its fleet, with plans to spend US$6.5 million to expand capacity.
As part of a broader growth strategy, the company intends to add 70 trucks in 2026, taking its total fleet to 340 vehicles by year-end.
This expansion is supported by a replacement programme covering 80 vehicles, including new units aimed at strengthening last-mile distribution.
Management says the increased capacity will be key to meeting rising demand while improving efficiency across domestic and regional routes.
The group is also targeting operational improvements, including raising on-time delivery rates to 93 percent and reducing costs in its less-than-truckload segment.
Unifreight’s latest financials reflect the benefits of diversification, with revenue rising to ZiG1.3 billion in the year to December 2025, while profit before tax reached ZiG74 million. – TML