Kuwait-based logistics company Agility has begun construction of a distribution park on a 16-hectare site in the Tema Port Free Trade Zone Enclave in Accra, just three months after the company announced plans for five industrial park projects in Africa.
The first phase of the Agility Distribution Park at Tema will provide logistics infrastructure to local, regional and global companies operating in Ghana from the last quarter of 2015, comprising 100,000m2 of bonded and non-bonded warehouses with ancillary services.
Geoffrey White, Africa CEO for the firm, said: “Agility is committed to developing a network of quality distribution parks in Africa, providing much needed routes in and out of the region and the reliable, modern and secure infrastructure companies need to grow their business.”
The parks will focus on providing power, IT connectivity and security for tenants — creating an international platform from which companies can efficiently operate their businesses.
White added: “Ghana is an attractive location to launch the network of Agility distribution parks thanks to a long-term stable and transparent government, fast-growing GDP and increasing prominence as a regional commercial hub in West Africa.”
Agility CEO Tarek Sultan initially revealed his plans for 2015 in October last year, to support supply chains for the oil and gas industry in Africa, in countries such as Angola and Ghana.
The additional push into Africa comes after Agility’s core logistics and freight businesses witnessed a 7% drop in revenue to $2.28bn in H1 2014, following a 3% drop over 2013.
“Globally, revenues have been affected by conditions that have challenged the freight forwarding industry,” Sultan said, and Agility only kept profit growth by keeping salaries and benefits flat in the first half of 2014, even as net income climbed by 11% to $83.3m.
Agility already operates in 11 countries in Africa, with a significant involvement in ports on the continent, as a result of significant historic investment and a sustained expansion drive.