CEVA Logistics has acquired a minority stake in MACCFA Ethiopia to further strengthen its East African presence as its strategic expansion plan gathers momentum.
The joint venture is effective immediately and further cements CEVA’s aim of becoming a leading continent-wide player. Through the new joint venture 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.
“Our strategic, continent-wide expansion plan continues to gather pace. 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 socio-economic emergence across all countries. Furthermore, MACCFA has a long-standing working relationship with CEVA Logistics’ parent company, the CMA CGM Group, a world leader in shipping and logistics,” said Bruno Plantaz, CEVA Logistics’ Managing Director Turkey, India, Middle East and Africa.
MACCFA’s Freight Logistics ‘Chairman, Mulugeta Assefa on his part said “MACCFA entered into a Joint Venture with one of the world-renowned logistics company -CEVA Logistics- to bring a modern and value adding logistics solutions into the country and support the Ethiopia’s homegrown economic reform in general and provide an agile logistics services to its customers in particular.”
MACCFA established 25 years ago operates from six offices and customs locations across Ethiopia offering a full range of logistics services. It is the dominant player and operates two road corridors: Addis Ababa – Djibouti and Kombolcha – Djibouti. It also provides intermodal solutions using fully booked Block Train services from the Port of Djibouti to Indode Freight Terminal near Addis Ababa with onward trucking services to final destinations across Ethiopia.