CEVA Logistics continues to expand its presence in the African market by strengthening its presence in two countries through two joint ventures (JV)
The company has acquired a majority stake in IBA Freight Services in Egypt, its exclusive partner for the last 20 years. In Ethiopia, CEVA Logistics has a minority stake in MACCFA, a long-standing freight forwarder headquartered in Addis Ababa.
Both JV are effective immediately and further cement the objective of CEVA Logistics to become a leading player in the continent. Both entities will expand their product base through the new joint ventures, which will help improve the use of their local logistics services across the CEVA Logistics network.
These new companies followed CEVA Logistics’ acquisition of a majority stake in AMI Worldwide in the summer of 2020, which added 12 countries to the company’s African network.
IBA Freight Services in Egypt
Headquartered in Cairo, near the city’s international airport, IBA Freight Services has been the exclusive agent of CEVA Logistics in the country for 20 years. It offers a full range of multimodal and 3PL services to a large customer base across the country. IBA Freight Services’ offices in Cairo, Cairo Airport and the port city of Alexandria operate a wide range of freight management services. Onward destinations across Egypt are served through trucking operations.
MACCFA in Ethiopia
MACCFA has been established for some 25 years and operates from six offices and customs offices across Ethiopia, offering a full range of logistics services. It is a dominant player outside the capital and has two road corridors: Addis Ababa – Djibouti and Mekelle – Kombolcha – Addis Ababa.
It also provides intermodal solutions using fully booked Block Train services from the Port of Djibouti to the Indode Freight Terminal near Addis Ababa with onward trucking services to final destinations throughout Ethiopia.
Furthermore, MACCFA has a long-standing working relationship with CEVA Logistics’ parent company, the CMA CGM Group, a specialist in shipping and logistics.
Bruno Plantaz, CEVA Logistics’ managing director Turkey, India, Middle East and Africa, said, “Our strategic, continent-wide expansion plan continues to gather pace.
These two JV further consolidate our position in North Africa and the horn of Africa and will enable us to persevere in our intention of supporting its socio-economic emergence across all countries.”
Read More: CEVA Logistics continues African expansion with JV in Egypt and Ethiopia