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BOLLORÉ TO CREATE ETHIOPIAN JOINT VENTURE

BOLLORÉ TO CREATE ETHIOPIAN JOINT VENTURE



BOLLORÉ

Shipping company Bolloré Transport & Logistics signed a memorandum of understanding with CLS Logistics, its partner for over 11 years, early in March 2019, intending to create a joint venture.

The signing ceremony took place in Addis Ababa in the presence of Jean-Yves Le Drian, France’s Minister for Europe and Foreign Affairs.

Already providing transport and logistics services in Ethiopia, Bolloré Transport & Logistics and CLS aim to offer their customers a range of services. These include work in the supply chain for key sectors in the Ethiopian economy, including coffee, textiles, industrial projects and infrastructure. The deal follows the partial opening of the logistics sector in Ethiopia by the country’s government.

As part of the agreement, the joint-venture plans to invest €15 million to build a new, fully secure logistics hub. The project involves the construction of 12,000m2 of warehouses suitable for coffee processing, textiles and other products, and a container yard on a five hectare site.

With its experience in port concessions and dry ports in Africa, Bolloré Transport & Logistics also intends to support the Ethiopian authorities in the modernization and development of dry ports, and in particular that of Modjo, in order to position it as a logistics hub in East Africa.

“This new agreement will enable us to consolidate our logistics offer in Ethiopia, but it also reflects our desire to make a long-term commitment to strengthen the national logistics sector through structuring investments, a transfer of know-how,” said Patrick Gerenthon, Cluster Manager Horn of Africa at Bolloré Transport a Logistics. He said the joint venture would lead to the creation of up to 300 jobs.

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