CEVA Logistics strengthens African presence through JVs in Egypt, Ethiopia
CEVA Logistics continues to expand its presence in the African market with the strengthening of its presence in two countries through two joint ventures.
December 15, 2020: CEVA Logistics continues to expand its presence in the African market with the strengthening of its presence in two countries through two joint ventures. In Egypt, the company has taken a majority stake in IBA Freight Services, its exclusive partner for the past 20 years. In Ethiopia, CEVA Logistics has taken a minority stake in MACCFA, a freight forwarder headquartered in Addis Ababa.
Through the new joint ventures both entities will be able to expand their products base which will help enhance the use of their local logistics services across the CEVA Logistics network.
These new enterprises follow CEVA Logistics' acquisition of a majority stake in AMI Worldwide in the summer of 2020 which added an additional 12 countries to the company's African network.
CEVA Logistics' managing director Turkey, India, Middle East and Africa, Bruno Plantaz, said, "Our strategic, continent-wide expansion plan continues to gather pace. These two Joint Ventures 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."
Headquartered in Cairo close to the city's international airport, IBA Freight Services has been CEVA Logistics' exclusive agent in the country for 20 years. The broad spectrum of freight management services is operated from IBA Freight Services' offices in Cairo at Cairo Airport and in the port city of Alexandria. Onward destinations across Egypt are served through trucking operations.
MACCFA operates from six offices and customs locations across Ethiopia offering a full range of logistics services. Outside the capital, it is the dominant player and operates 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 Indode Freight Terminal near Addis Ababa with onward trucking services to final destinations across Ethiopia.
Furthermore, MACCFA has a long-standing working relationship with CEVA Logistics' parent company, the CMA CGM Group.