CEVA expands in Africa with deals in Ethiopia and Egypt
15 / 12 / 2020
CEVA Logistics has expanded its presence in the African market through investments in companies in Egypt and Ethiopia.
In Egypt, the company has taken a majority stake in IBA Freight Services, its exclusive partner for the past 20 years, while in Ethiopia CEVA has taken a minority stake in MACCFA, a long-standing freight forwarder headquartered in Addis Ababa.
Both joint ventures are effective immediately and “further cement CEVA Logistics’ aim of becoming a leading continent-wide player”.
“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,” the forwarder said.
IBA Freight Services is headquartered in Cairo, close to the city’s international airport, and offers multimodal and 3PL services. It has offices in Cairo, at Cairo Airport and in the port city of Alexandria as well as trucking services throughout the country.
MACCFA has been established for some 25 years and operates from six offices and has customs locations across Ethiopia. It operates two road corridors: Addis Ababa–Djibouti and Mekelle– Kombolcha–Addis Ababa, and has a block train service from the Port of Djibouti to Indode Freight Terminal near Addis Ababa with onward trucking services to final destinations across Ethiopia.
These deals follow CEVA’s 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.