MACCFA, an Ethiopian-based freight forwarding company, has announced an agreement for a joint venture with Swiss-based CEVA Logistics Company. CEVA Logistics took a minority stake in MACCFA to enter the venture.
The agreement is set to drive CEVA’s aims to become an important agent in the African continent.
With the acquisition of MACCFA’s local networks, CEVA’s Logistical Network is expected to make headway in East Africa after adding 12 nations to the network a few months ago after acquiring a majority stake in AMI Worldwide.
MACCFA operates six offices and customs locations and is the dominant institution in two important corridors; Addis Ababa – Djibouti and Kombolcha – Djibouti. Aside from this important role, MACCFA also has strong ties with CEVA’s parent company, CMA CGM Group, one of the leading global logistics and shipping companies.
MAACFA Chairman Mulugeta Assefa explained that the joint venture is going to facilitate the modernization of Ethiopia’s logistic operations and support the economic reform that the nation is currently on.