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.
Aiming to become a leading continent-wide player
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.