Seeker Tec International Inc. (OTC Markets: SNTL) has acquired a controlling interest in Norwegian holding company JAMAC 333 AS, which in turn owns majority interest in Togo Transport Company of West Africa.
Togo Transport has recently been awarded a contract with the West African Cement Company to transport raw materials from the capital Lom, to the WACEM plants in Burkina Faso.
JAMAC has already procured its first truck which will deliver an estimated $200,000 of revenue in its first year and expects to have up to 9 trucks in operation by the end of 2014.
Seeker Chairman Mike Kendrick commented, "The Togo project fits perfectly into our philosophy of compassionate capitalism. By working with a local partner, we will boost the economic benefit of the business in Togo, whilst generating returns for our stakeholders.
"We are fully committed to growing the transport business in Togo and see it as a great opportunity to develop further interests in the region," he added.
The business was established by Jorn Rosting, who has significant experience in West Africa, and is currently working with Seeker on a number of initiatives.
"I have known Mike for a considerable time and am delighted to be working with him and Seeker on this exciting venture, which I expect to grow both quickly and profitably. This business has the potential to become a springboard for making a real positive impact on the local economy," said Rosting.
Togo is a small country of 6.5 million people, but it is growing fast, due to the strategic importance of its deep water harbour in the middle of the west coast of Africa and support from the World Bank. Seeker has a real opportunity to be a key player in the country's development.
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