Agility eyes Africa in $100m investment drive | Infrastructure news

Agility, a logistics firm out of Kuwait, plans to invest up to US$100 million on expanding its business, with an emphasis on Africa.

“We are committed to growing our business in various markets and investments,” said Essa Al Saleh, the president and chief executive.

According to Mr Al Saleh, Agility wants to increase its presence in Africa, in particular, Angola, Nigeria, Mozambique and Ghana, which are all oil-producing countries.

“Africa is a growing market and it is one of our last frontiers,” said Mr Al Saleh.

“We see a lot of opportunities in terms of oil and gas. We see a lot of opportunities in relation to growing economic development and wealth in Africa.”

He added that most of the investments made during 2015 will be for organic growth rather than acquisitions.

The Middle East and Africa continues to be Agility’s fastest growing region, followed by Asia, Latin America, the United States and Europe.

Agility plans to grow its profits despite the oil price rout, during which Brent prices have almost halved since June.

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