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Freight-in-Time

Freight in Time (FiT) is the  freight and logistics arm of Sunripe Group, 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. The main industries currently handled are perishables, pharmaceuticals & healthcare, telecommunication & ICT, humanitarian & relief and spare parts. 

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 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.

Facts

  • Company: Freight in Time
  • Sector: Industrial Partnership
  • Investment year: 2015
  • Instrument: Equity and Loan
  • Committed amount (MNOK): 84