Freight in Time
- Region: Africa
- Country: Regional
- Sector: Other industrial partnerships
- Year: 2015
- Domicile: Mauritius
- Instrument: Equity and loan
- Commitment (MNOK) as of 31.12.2016: 87.6
- Original Commitment (MNOK): 87.6
Freight in Time (FiT) is a supply chain logistics operation with a regional footprint in East Africa including South Sudan, Ethiopia and Djibouti. The main industries handled are perishables, pharmaceuticals & healthcare, telecommunication & ICT, humanitarian & relief and spare parts. Norfund provided 24% of the equity to allow for the expansion of the supply chain logistics and distribution.
Freight in Time is a family owned entity founded in 1965. In the last years, FiT has developed its capabilities to provide services in sea and air transport, imports brokerage services, warehousing and distribution.
FiT has created a large regional footprint and has an office network in 8 countries within the East African region including South Sudan, Ethiopia and Djibouti. The company is now planning to expand its supply chain logistics focussing on temperature controlled warehousing and distribution for third parties, an area which is underserved in East Africa
To undertake the envisaged expansion, FiT need to partner with a long term investor of Norfund’s stature and would like to be guided by the competency/non-financial support that such a partner would bring.
It is expected that this investment will contribute to the creation of new jobs in the East Africa region, generate tax revenues and also provide efficient logistic solutions to a number of industries including agriculture and the humanitarian sector. Norfund’s involvement will promote good corporate governance standards by transforming a family business into a professionally run company.