International Finance

Kuwait’s Agility to develop $200 mn warehouse parks in Africa

The company plans to develop three warehouse parks in Abidjan in Ivory Coast, Maputo in Mozambique and Lagos in Nigeria

Kuwait’s Agility Public Warehousing is going ahead with its plan to develop warehouse parks across Africa. The development of each Agility warehouse park in Africa is expected to cost around $200 million.

Agility has already set up a warehouse park in the Ghanaian port city of Tema, Africa. The company plans to open three more warehouse parks in Abidjan, a commercial hub in Ivory Coast, Maputo in Mozambique and Lagos in Nigeria. The development of these Agility warehouse parks in Africa are expected to be completed by the end of the second quarter of 2020.

Agility also has plans to develop similar warehouse parks in other cities in Africa such as Addis Ababa, Luanda, Nairobi, Dar es Salaam and Kinshasa.

The parks provide warehousing facilities with reliable power, internet, and security. Strategically developed and located on the outskirts of major commercial hubs, these parks offer companies operating globally a quick way to set up distribution centers.

With regard to Agility’s warehouse park development project in Africa, Geoffrey White, Agility’s chief executive officer for Africa told the media that, “While there are some similar projects on the continent, none are of Agility’s scale.”

According to Geoffrey White, the company is also planning to develop warehouse parks in Northern African countries such as Egypt, Morocco, and Algeria.

US-based Cummins, which designs, manufactures and distributes engines, filtration, and power generation products became one of the first customers to use the warehouse park developed by Agility in Tema, Ghana.

Last month, the Kuwait-based Logistics company reported an 8.1 percent increase in profits during the second quarter of 2019 year-on-year. Its profits increased to $71.26 million in the second quarter from $65.92 million during the same period last year.

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