Kuwaiti company Agility Logistics has will acquire Kenyan firm Starfreight Logistics. Based in Nairobi, Starfreight is a Customs clearance and freight forwarding specialist. The firm in Kenya concentrates on the procurement and clearing of goods and machinery into Africa.
Its services also include warehousing and project forwarding, haulage, cross-border documentation and transport, air freight and Customs examination.
Elias Monem, CEO of Agility for the Middle East and Africa, said for Agility, the acquisition comes at an important time when it is rapidly expanding its network across the globe.
He said more than 70 percent of the international container cargo comes from or is going to the central and eastern regions of Africa and this acquisition creates a gateway for us to service this rapidly growing market.
Formerly a fully owned Kenyan company, Starfreight competes with globally affiliated companies such as Transami, TNT and DHL.
Starfreight said the sale process began last year after the Kuwaiti firm, attracted by the growth of the freight industry, began a hunt for a local partner.
Industry research firm Business Monitor places Kenya's freight industry second in rank within the overall Middle East and Africa business environment matrix, after Egypt.
Its services also include warehousing and project forwarding, haulage, cross-border documentation and transport, air freight and Customs examination.
Elias Monem, CEO of Agility for the Middle East and Africa, said for Agility, the acquisition comes at an important time when it is rapidly expanding its network across the globe.
He said more than 70 percent of the international container cargo comes from or is going to the central and eastern regions of Africa and this acquisition creates a gateway for us to service this rapidly growing market.
Formerly a fully owned Kenyan company, Starfreight competes with globally affiliated companies such as Transami, TNT and DHL.
Starfreight said the sale process began last year after the Kuwaiti firm, attracted by the growth of the freight industry, began a hunt for a local partner.
Industry research firm Business Monitor places Kenya's freight industry second in rank within the overall Middle East and Africa business environment matrix, after Egypt.