Nearly 62% of international logistics players plan to invest in Africa by 2024
Par Ibrahima DIALLO
10 February 2024 / 13:37

The growing interest of international logistics operators in Africa comes at a time when the continent is the scene of fierce competition between the world's major economic powers as they strive to increase their commitment and investment there. 

61.6% of international logistics players plan to invest in Africa this year, despite continuing macroeconomic uncertainties and disruptions to global supply chains, according to a report published on Tuesday February 6, 2024 by Kuwaiti logistics group Agility and specialist research firm Transport Intelligence.

Entitled "Agility Emerging Markets Logistics Index 2024", the report includes a survey of 830 international logistics executives.

47.4% of respondents say they intend to make further investments in Africa, where they already have a presence, while 14.2% plan to make their first investment on the continent.

31.8% of those surveyed also stated that their investment and expansion strategy in Africa would remain unchanged, while 6.6% planned to withdraw or reduce their activities in certain African markets.

The report points out that this growing interest in Africa on the part of international logistics operators comes at a time when the continent is the scene of fierce competition between the world's major economic powers as they strive to increase their commitment and investment there.

Africa is one of the regions with the highest growth rates for maritime container transport in 2023.

Containerized imports into African countries grew by 6.7% in the first seven months of 2023 compared to the same period in 2022, and by 10.1% compared to the same period in 2019, according to data from shipbroker Broker. The main driver of this growth is the increase in trade flows between Asia and the west coast of Africa.

The increase in containerized goods traffic on the continent is set to continue over the next few years, with the gradual operationalization of the African Continental Free Trade Area (AfCFTA).

The survey also reveals that the leaders of international logistics operators are still concerned about the poor performance of the global economy. Half of them expect a global recession in the coming year, compared with almost 70% a year ago.

Agence Ecofin

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