Ringier, a Switzerland-based digital media and marketplace group, has consolidated its digital marketplaces portfolio in Sub-Saharan Africa by selling its Kenyan real estate platform, BuyRentKenya, to Rushbox, which operates property platforms in Mauritius and Zimbabwe.
The move supports Ringier’s strategy to focus on its core jobs and general classifieds businesses under The African Talent Company (TATC).
The sale marks a shift for BuyRentKenya, previously run as a standalone real estate platform within Ringier’s African portfolio.
Axel Konjack, Head of Marketplaces at Ringier, said:
“Rushbox, led by African tech entrepreneur Garth Drummond, brings significant experience in operating real estate marketplaces in Zimbabwe and Mauritius, offering synergies from which BuyRentKenya will greatly benefit. This step will allow BuyRentKenya to further grow under Rushbox’s leadership while we continue to focus on our strategic priorities around jobs and talents across the Sub-Saharan African Continent.”
Rushbox plans to build on BuyRentKenya’s existing presence.
“By combining our cross-market expertise and technological strengths with BuyRentKenya’s established brand and local insights, we see a great opportunity to bring new value to the Kenyan real estate market,”
said Garth Drummond, CEO of Rushbox.
Both companies have agreed not to disclose further details of the transaction.
Featured image credit: Edited by Fintech News Middle East, based on image by sodawhiskey via Freepik
