Hod Hasharon , ISRAEL - May 14, 2018 - PARX SPS Ltd., announced today it has signed an exclusive distribution agreement with 3i Investment ltd
As part of the agreement, 3i Group will represent PARX SPS,
in several Western African countries including the Ivory coast, Ghana , Togo , Benin , Nigeria and Burkina Paso
"Our agreement with 3i Investment is part of our continuing strategy of entering long-term contracts for municipal parking management, with the active participation of local reputable partners" said Arnon Efraty PARX's President . "PARX's unique parking technology, the EasyPark™, allows us to provide municipalities with an unequal value proposition in a market which we expect to exhibit spectacular growth in the very near future."
"We are excited about the future of parking management programs in Africa and our collaboration with PARX," said Franck Faboumy, CEO Investment 3I INC." We plan to expand this operation to a large number of cities in Western Africa over the coming months and years."
"We introduced the EasyPark™ solution almost 20 years ago in Israel, and it is now implemented in more than 200 cities around the world where it has helped collecting more than $400 million in parking fees. We have high expectations from the Western African market representing the significant potential of these new and emerging greenfield markets. The unique combination of our technology with 3i Investment strong business, financial and managerial capabilities will allow us to provide the best service to both municipalities and drivers in the markets we are targeting ," Efraty added.
About PARX Ltd.
PARX Ltd. develops markets, operates and distributes advanced cashless parking management solutions, including the EasyPark™ system. For more information, visit www.parxglobal.com
About Investments 3I INC.
Investments 3I INC, distributes, operates and finances advanced cashless parking management and enforcement solutions for road transportation. For more information, visit www.3igroup.ca