French Firm Invests in Local Logistics Company

Dec 19 , 2020

CEVA Logistics, a part of the French shipping giant CMA CGM Group, has taken a step forward in its expansion into the African market after acquiring a minority stake in MACCFA Freight Logistics, a long-standing freight company headquartered in Addis Abeba. The move comes following CEVA's acquisition of a controlling share of AMI Worldwide, a third-party logistics provider with an extensive network in East and Southern Africa, earlier this year. "This new Joint Venture further consolidates our position in the Horn of Africa and will enable us to persevere in our intention of supporting Africa's socioeconomic emergence," said Bruno Plantaz, a managing director from CEVA. Operating with an estimated 78,000 employees and over 1,000 facilities in more than 160 countries, CEVA Logistics offers a broad range of services in contract logistics and freight management. The move is hoped to bring modern and value-adding logistics solutions to the country and support economic reform, according to Mulugeta Assefa, MACCFA chairman. Established 25 years ago, MACCFA operates with six offices and customs locations across the country. It operates two road corridors: Addis Abeba-Djibouti and Kombolcha-Djibouti.