By Modupe Gbadeyanka
An Egyptian start-up, Filkhedma, was acquired by SweepSouth, a South African company also present in Kenya and Nigeria.
“We are delighted that Filkhedma is part of the SweepSouth family,” said SweepSouth CEO and Co-Founder Ms Aisha Pandor.
âIt’s not only their services that match ours, but also their values ââand culture. Like us, Filkhedma is passionate about providing quality and trusted home services, while creating work opportunities for those who need them most, âshe added.
âWe have proven our technological and operational expertise in many sub-Saharan African markets, and this acquisition gives us the opportunity to extend this reach into Egypt, a huge market with millions of households.
âJoining the Filkhedma team represents the next phase in building SweepSouth into a global platform that will continue to expand our services not only on the continent but also internationally,â added the co-founder of the company, Mr. Alen Ribic.
Filkhedma is Egypt’s leading home care market, operating in three regions of the continent and serving tens of thousands of clients with cleaning, maintenance and beauty services while empowering more than 2,000 service providers through a technology with constant income and professional development.
âWe are excited about this incredible milestone and excited to join the SweepSouth team in realizing our vision of empowering suppliers and delivering quality services in Africa and beyond.
“We already have over 2,000 service providers on our platform and we are confident that with the support of SweepSouth we will be able to enroll many more and expand into neighboring countries as well,” the CEO of Filkhedma, Mr. Omar Ramadan, said.
Under the new arrangement, Mr. Ramadan will play a key role in the combined entity’s management team and all Filkhedma employees will remain.
The acquisition means that SweepSouth will be one of the few African start-ups operating in the continent’s four key technology ecosystems of South Africa, Egypt, Kenya and Nigeria. It also means that all markets will have access to new services almost immediately, while the company as a whole will be ready to continue expanding into other parts of Africa and the Middle East.
For South Africa, the biggest change will be the impending rollout of beauty services. This will include manicure and pedicure, hair care and makeup services that can be done at home. This not only gives SweepSouth customers access to more services, but it also gives entrepreneurs in the field the opportunity to register on the platform. This, in turn, allows access to a larger pool of potential customers.
For Egypt, the company will benefit from technology from SweepSouth, as well as interior and exterior cleaning services already available in South Africa, Kenya and Nigeria.
Naspers Foundry Head, Fabian Whate, said: âThis acquisition has the potential to generate significant synergies. Filkhedma is an excellent company and is aligned with SweepSouth’s ambitions to expand its service offering and access high growth markets in the region.
âEgypt’s growing middle class, financial inclusion and rising internet penetration provide huge opportunities for the combined home services platform of the two companies. Helping high potential technology start-ups is at the heart of what Naspers Foundry does and we are particularly excited about this important step in SweepSouth’s journey. “
“We are very pleased to see this partnership come to fruition and the prospects for this combined entity,” said Tarek Assaad, Managing Partner at Algebra Ventures, Principal Investor in Filkhedma. âFilkhedma has pioneered the home service sector to become the biggest player in Egypt, and this consolidation with SweepSouth demonstrates the parallel correspondences between Egypt and sub-Saharan Africa. Partner companies across the continent are paving the way for cross-border investments and stressing that we are going one step further to seize untapped opportunities existing in key African markets.
âEgypt has been a strong economic player on the continent for many years,â notes Pandor. âThe country has a strong and growing middle class that has been underserved in the home care arena. With a compelling track record and outlook for economic growth, and an economy that has weathered tough times, it made sense for us to watch this market for our next big leap. “
âWe are entering a phase of rapid growth and executing a number of other launches in new countries in 2022,â adds Pandor. âHaving the Filkhedma team on board is particularly exciting as it is an intra-African acquisition by two companies in the same sector. This acquisition almost doubles our addressable market on the continent and enhances the products and services we already offer.
“We are particularly delighted with the growth prospects that this acquisition offers us,” notes Ramadan. âWe already have a series of new software updates coming with this acquisition and we are also able to offer our expertise in integrating our popular services, such as air conditioning technicians, antenna installations satellite dishes and home appliance repairs, in other areas. “
âI look forward to working with Aisha, her co-founder Alen Ribic and their team as we enter this exciting new chapter,â he concludes.