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WEF New Champions Chapter Launches in South Africa

WEF New Champions Chapter Launches in South Africa
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Acquisitions diversify logistics footprint at the expense of deleveraging

Acquisitions diversify logistics footprint at the expense of deleveraging
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S.Africa's Imperial Logistics explores exit plan of European business

By Reuters Staff
2 Min Read
JOHANNESBURG (Reuters) - South Africa’s Imperial Logistics Limited said on Tuesday it will explore an exit plan for its international logistics business as part of its strategy to focus on Africa.
The Johannesburg-based freight company is in the middle of a restructuring that includes exiting unprofitable contracts and non-core businesses and consolidating operations and properties as part of its plan to drive profits.
“We have concluded that Logistics International is non-core to our ‘Gateway to Africa’ strategy and we will explore an appropriate exit plan for this business,” Chief Executive Officer Mohammed Akoojee said. ....

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