Saturday, Jul 31, 2021
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Norway’s seeks to promote Africa’s logistics growth

Norway Africa_IF_Image
The ties between both countries have continued to increase trade between Norwegians and Africans

Africa and Norway’s relationship goes back a long way. The ties between both countries have continued to increase trade between Norwegians and Africans on various levels. It is reported that the former trade activities on the continent have increased by 50 percent. Additionally, a ‘permanent mission’ was established by Norway with the African Union.

Norfund has invested more than a billion shillings to support and enhance the economic development of East African countries. Norfund is a private equity company established by the Norwegian Storting in 1997 and owned by the Norwegian Ministry of Foreign Affairs.

Norway is playing a significant role in building up Africa’s freight sector and the economy at large. Erna Solberg, the Norwegian Prime Minister, held discussions with various African countries about strengthening ties with the continent, media reports said. 

That said, the Norwegian government even purchased shares in Freight in Time through Norfund. Norfund is observed to have significant interest in the region and is also Norway’s investment fund. So the Norwegian presence in Africa’s logistics sector is quite prominent. 

For the uninitiated, Freight in Time is a start to finish logistics supply chain organisation based in Kenya. It provides fast brokerage logistics services for air, road freight and sea. The African company was established in 1968 and it has demonstrated profound work in the African logistics industry. 

The shares purchased by the government through Norfund were intended to promote the growth of East African countries, media reports said. 

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