Gefco opening up Algerian market
The Gefco group, one of foremost European automobile logistics providers and a global player in the industry logistics sector, is expanding its network in North Africa by establishing a national subsidiary in Algeria. The country has one of Africa’s largest economies, and one which is projected to grow by 5.5% in 2015. Gefco’s new affiliate will support industrial companies in the automobile and energy sectors, two major growth markets in Algeria.
Around 423,000 new cars were sold in Algeria in 2013, equating to an impressive increase of 20.6% compared to 2012. The country has one of the world’s most promising car markets and the second largest on the African continent.
The energy sector (oil and gas) holds a prominent place in the Algerian economy, and accounts for 35% of the country’s economic growth (source: Central Intelligence Agency – the world factbook 2013). Algeria, which is currently the world’s second largest gas exporter, expects its production to rise by 8% per annum between 2014 and 2018.