- 16 December 2020
- Transport / Logistics Services
CEVA Logistics has expanded its footprint in Africa by taking a majority stake in an Egyptian freight services provider and a minority stake in an Ethiopian freight forwarder.
The 3PL has taken a majority stake in its long-term Egyptian partner, IBA Freight Services. Based in Cairo, the firm has been its exclusive partner for the last 20 years. IBA Freight Services offers the full range of multimodal and 3PL services across Egypt.
CEVA Logistics has taken a minority stake in Addis Ababa based MACCFA. MACCFA has six offices across Ethiopia and offers a full range of logistics services both within Ethiopia and across the region to the Port of Djibouti and onward around the world. MACCFA has a longstanding relationship with CEVA Logistics parent company, CMA CGM.
CEVA Logistics’ Managing Director Turkey, India, Middle East and Africa, Bruno Plantaz comments: “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.”