Asia’s SCG Far East (SCG) has acquired a major stake worth $5 billion in Maser Group, Africa’s premier provider of high-quality, competitively priced consumer electronics.
The deal will fortify Maser’s ambition to expand its influence globally and cement its role as a pioneering force in Africa’s rapidly evolving tech market.
Through this acquisition, SCG aims to bring its extensive experience and capital to help Maser scale its innovation-driven products across global markets, bringing new vigour to both African and Asian markets.
Prateek Suri, CEO of Maser, said the group has been a true catalyst in transforming the African electronics sector, noting that the partnership gives the organisation an incredible opportunity to further its innovation.
“SCG’s commitment to identifying and supporting dynamic entrepreneurs aligns perfectly with our vision. Together, we will accelerate our growth trajectory and enter a new phase of global impact,” Suri said.
Maser Group has long been a leader in Africa’s electronics sector, offering an innovative range of products that have gained traction across the continent and beyond.
With roots that emphasize affordability without compromising quality, the brand has evolved into a symbol of modern African enterprise. By partnering with SCG, Maser now has the resources to pursue larger projects, further bolstered by the support of the influential Iloh family, known for their political and strategic insights that have shaped major business alliances across the continent.
The acquisition is a milestone for both companies and highlights SCG’s goal to expand into untapped markets with high growth potential and the decision was not made lightly, as noted by SCG’s head of M&A.
“Our criteria for identifying partners are straightforward: great management, great entrepreneurs, great people. Maser is the ideal partner with whom to grow together.”
“Their innovative products have reshaped the African electronics market, turning it into a hub of digital innovation.”
This deal also sees the participation of key players from Series A and B funding rounds led by Innovation Group Asia Markets, whose support provided Maser with early-stage backing as it established its stronghold in Africa.
Series C, finalized by SCG, positions Maser to benefit from its resources, expertise, and expansive distribution networks.
With a growing middle class and increased demand for high-quality consumer electronics, Africa is fast becoming a lucrative market for technology-driven companies.
Maser’s commitment to offering affordable yet high-end products has resonated with a broad spectrum of consumers, making it a prime investment opportunity for SCG.
“From the start, our aim was to redefine the consumer electronics market by addressing local needs with global standards,” Suri noted. “SCG’s investment allows us to keep innovating while ensuring African consumers have access to cutting-edge products.”
“The support from SCG is not only financial but strategic, as we will be leveraging their networks, operational efficiencies, and technological expertise to achieve a stronger, more impactful reach.”
SCG’s acquisition also aligns with its ambition to support the growing market potential in Africa, which has been largely untapped by international tech players.
The partnership will facilitate shared technological advancements and the distribution of new, innovative products developed specifically for African consumers, catering to their preferences and needs. Under the terms of the acquisition,
Suri will lead Maser’s global expansion efforts, backed by SCG’s resources.
The Maser Group’s equity, retained by Suri, will be reinvested into large-cap ventures across Africa, allowing Maser to extend its portfolio to new markets and continue its mission of empowering African consumers through affordable technology.
The strategy is expected to foster further economic growth on the continent, creating jobs and enhancing digital literacy.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
