MOL invests in African logistics firm

Japan’s Mitsui OSK Traces (MOL) is shopping for a 25% stake in Tanzania-based Alistair Group, a cross-border logistics firm serving Sub-Saharan Africa. No value has been revealed.

Alistair Group has workplaces in eight international locations in Southeast Africa. Its enterprise centres on cross-border logistics companies for truck transport of copper, cobalt, and different important mineral sources produced within the Democratic Republic of Congo and Zambia in inland Africa to coastal export ports. It’s also engaged in customs clearance, warehouse operations, and cargo dealing with at ports. The corporate has a fleet of about 450 vehicles and about 1,000 workers.

In a launch at the moment, MOL mentioned it views Africa as area with vital progress prospects and new enterprise alternatives on account of rising inhabitants and ample sources, together with renewal vitality potential.