Egypt’s state postal service took a minority stake in local logistics startup Roaderz: The investment and logistics arms of Egypt Post will acquire a 40% stake in Egyptian logistics platform Roaderz, the company said in a statement yesterday. Post for Investment and Post for Distribution will both acquire shares in the company, according to the statement, which did not disclose the transaction value.

What they said: The move is part of Egypt Post's strategy to expand its portfolio in the financial services and logistics sector to bolster Egypt's economy while generating returns on its investments via its logistics and investment arms. The acquisition also seeks to provide impetus to Egypt's e-commerce sector while bolstering delivery infrastructure, Egypt Post chairman Sherif Farouk said.

About Roaderz: Founded in 2021 by e-payments giant Fawry, logistics startup Mylerz, tech solutions firm Softec, and Confida Ventures Managing Partner Ammar Zawaideh, Roaderz is a crowdsourcing platform that connects couriers and small delivery firms with e-commerce merchants, while allowing sellers to request couriers on demand or schedule their services in advance.

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