CEVA Logistics expands in Africa with acquisitions in Egypt and 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. 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 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.

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.

Furthermore, MACCFA has a long-standing working relationship with CEVA Logistics’ parent company, the CMA CGM Group, a world leader in shipping and logistics.

Says CEVA Logistics’ Managing Director Turkey, India, Middle East and Africa, Bruno Plantaz, “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.”