MIDDLE EAST: Dubai firm acquires 51% stake in Africa West

Dubai's Global Investments Limited has acquired a 51 per cent controlling interest, from 1 July, in Togo-based Africa West cargo airline, with veteran logistics leader Issa Baluch appointed as chairman, while CEO Yannick Erbs remains in his position.


51% acquires Africa Dubai EAST firm MIDDLE West


Dubai’s Global Investments Limited has acquired a 51 per cent controlling interest, from 1 July, in Togo-based Africa West cargo airline, with veteran logistics leader Issa Baluch appointed as chairman, while CEO Yannick Erbs remains in his position.

Africa West operates freighter services from Europe, Asia and the Middle East direct to Lome; and has recently commenced new direct operations from the USA and Milan with an MD11-F aircraft. The carrier also recently added two new destinations to its network – Freetown and Monrovia – bringing the total number of scheduled services across West Africa to ten.

“This is a very exciting time for Africa West as we welcome the new management team led by Issa Baluch,” Erbs said in a statement. “We have known each other for a long time and have collaborated in numerous projects involving air freight into Africa so this alliance feels very natural. I believe this management under GSA Global Investments Limited has doubly equipped Africa West in covering more trade lanes leading to and from the West African market.”

Separately, Africa West Cargo has awarded Cargoitalia with a weekly ACMI (Aircraft, Crew, Maintenance and Insurance) contract to provide a European link to its network via its main hub. The contract begins immediately, and runs until further notice, the Italian carrier said. Under the contract, Cargoitalia’s MD11F will operate Milan- Liege-Lome every Sunday. On Mondays, the service will either return to Milan or, on request, continue to Bamako, Niamey and Liege, before returning to Milan.