In Egypt, the company has taken a majority stake in IBA Freight Services, its exclusive partner for the past 20 years. 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 JVs, both entities will be able to expand their products base and their local logistics services across the CEVA Logistics network.
Headquartered in Cairo near the international airport, IBA Freight Services offers a full range of multi-modal and 3PL services to a wide base of customers across the country. MACCFA has been established for some 25 years and operates from six offices and customs locations across Ethiopia, also offering a full range of logistics services and intermodal solutions from the Port of Djibouti to Indode Freight Terminal near Addis Ababa.
These new business deals follow CEVA Logistics’ acquisition of a majority stake in AMI Worldwide in summer this year, which added an additional 12 countries to the company’s African network.