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Kuwait’s Agility eyes 2 new acquisitions – CEO

Kuwait’s Agility eyes 2 new acquisitions – CEO
Agility currently operates in nine African markets
Agility
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By: Amr Adel

Dubai – Mubasher: Agility Abu Dhabi, a subsidiary of Kuwait-based Agility Public Warehousing, is looking to make two acquisitions in Africa this year, the Abu Dhabi subsidiary’s CEO said on Monday.

Speaking on the sidelines of the company’s press conference in Dubai, Bassel El Dabbagh indicated that several African markets were witnessing notable growth, which has made Agility look to these markets for its expansions and acquisitions.

Agility is planning to enter two African markets in 2018, the top official told reporters, highlighting that the Kuwaiti warehousing firm was also looking to expand its service reach to all African countries.

Agility currently operates in nine African markets and expects to begin operating in the Ivory Coast quite soon, El Dabbagh revealed.

Last year, the public warehousing company acquired a transport and logistics firm in South Africa, he added.

Commenting on his company’s strategy for the GCC, El Dabbagh said Agility will focus on increasing its assets including establishing new warehouses, but will not conduct any acquisitions there.

Agility has invested AED 125 million ($34.04 million) across three projects, slated for completion in 2018.

The Kuwaiti company is also planning to expand long-term in Abu Dhabi by renting a 200,000-square metre plot in the Khalifa Industrial Zone (KIZAD). This project is to be completed in the first half of 2018, El Dabbagh stated.

Agility, which is listed in Kuwait and Dubai, has conducted a study to build warehouses in Dubai, the top official revealed, but declined to comment further, citing that the project was still under study.

 

Translated by: Nada Adel Sobhi