ISTANBUL

Trade corridors in Africa offer tremendous opportunities for investors, bringing together investment, human resources, know-how, and digitalization.

Speaking to Anadolu on the sidelines of the Türkiye-Africa Business and Economic Forum (TABEF), hosted by the Turkish Trade Ministry in Istanbul, Eric Melet, CEO of Africa Global Logistics (AGL), said that the firm employs over 15,000 of its 23,000 workers in these trade corridors.

The forum, coordinated by the African Union (AU) and organized by the Foreign Economic Relations Board (DEIK), with Anadolu as its global communications partner, is being held this year under the theme “Leveraging Türkiye-Africa Relations for Mutual Gains.”

Melet stated that, for instance, to reach and effectively serve the Democratic Republic of Congo, the route through East Africa, particularly the Tanzania route, can be used, as well as the South African route and the West Africa route, such as the Lobito Corridor, where AGL operates the port.

He emphasized that finding the right business model is vital in investing in the African private sector, noting that there have been a number of unprofitable projects.

Melet stated that the AGL invests around $600 million in its assets in Africa every year, but human resources are just as important as financing. He said Africa boasts a large talent pool, but it is key to train them and ensure growth with investment.

He mentioned that West, South, and East Africa corridors are favorable for investments, but railway investments, in particular, should be increased more as railways make up a large portion in accelerating the growth of corridors.

Melet emphasized that the investment Africa receives does not meet the continent’s annual investment needs, but Turkish firms have the know-how, capacity, and geopolitical and historical ties to close the gap.

He added that Africa needs Türkiye as a partner and investor, which is why the AGL has invested in Türkiye as the first country outside of Africa that the firm has invested in, noting that the firm has a dedicated logistics team in the country.