DHL eCommerce has announced a new agreement with Saudi Arabian domestic delivery firm AJEX Logistics Services, which will see the two companies work together to capitalise on the anticipated double-digit growth rate in the local parcel market.
As part of the partnership, DHL eCommerce has acquired a minority stake in AJEX and secured the option to increase its interest to a majority stake in the future.
The deal represents DHL eCommerce’s first move into the fast-growing Saudi Arabian e-commerce parcel market, which is expected to reach US$2 billion by 2029, growing at a CAGR of 10.31%, according to a report by intelligence firm, Global Information.
This growth is being supported by the Saudi Vision 2030 – a government programme launched by Saudi Arabia which aims to achieve the goal of increased diversification economically, socially, and culturally. Logistics is a key growth pillar of this vision.
About AJEX
