The First of two shipping vessels has been delivered to Bua Foods, one of Africa's leading FMCG companies in order to make a larger sugar export operation to the West African market which kicked off successfully earlier this year.
The vessel is designed to enhance a fast and sustainable delivery of more refined sugar in the face of growing export demand from across the African region.
The vessels will depart and berth at BUA’s port and terminal increasing export capacity while reducing operating cost.
The Mitsubishi of Japan-built vessel is named MV Bundu named after the area in which the refinery is located.
“As we drive our business for growth with a focus on sustainable returns, and benefit to all our stakeholders and the Nigerian economy, owning a shipping vessel is an important step in BUA Foods strategy,” said the Chairman of BUA Foods Plc, Abdul Samad Rabiu.
“We see an increased and continued demand for refined sugar across the region with an attendant increase for logistics support to aid timely delivery, which is why it is important for us to strengthen our current capability with an own-controlled asset as we advance further in our business strategy.
"These new vessels will create operational efficiencies in our business and open possibilities for new services.”
With these acquisitions, BUA Foods is well-positioned to take advantage of the AfCFTA, considering its investments in the food sector over the years.
BUA Foods MD Engr. Ayodele Abioye said. “Owning a vessel to export sugar is a crucial enabler of flexibility and agility in our total supply chain as it allows our customers to tackle time-critical fulfillment challenges due to timely availability of their goods”
"As we expand our customer base into the region, we strongly believe in working closely with them towards meeting and surpassing their needs in time and in full”.
Also, in order to further strengthen the company's export drive, a second shipping vessel is expected to arrive by the end of the second quarter of 2022 to promote cross-border trade to businesses across the West African region and other African countries.
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