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Shares of the cross-border logistics company surged following the announcement that a key highway upgrade in Zambia has been completed under a public-private partnership. The company’s stock in Shanghai rose by 6.9%, closing at 14.66 Chinese yuan (approximately $2.12 USD).
The 17.3-kilometer stretch of road connecting Ndola to Sakania is now open to traffic and has begun toll collection, the firm revealed yesterday. In 2023, its subsidiary signed a 22-year concession agreement with the Zambian government to develop, enhance, and operate the Sakania project, with a total investment of $76.1 million. The parent company holds a 90% stake in the subsidiary.
The project includes upgrading the Ndola-Sakania road, modernizing the Sakania port, and reconstructing a 41.7-kilometer road from Sakania to Mufulira. It establishes a pathway for expanding the logistics corridor from the Democratic Republic of the Congo through Zambia to ports in Southeast Africa.
The company plans to continue advancing infrastructure development across Africa, including railroads, roads, inland ports, and warehousing logistics facilities. Its goal is to strengthen its core cross-border logistics expertise and supply chain management capabilities throughout the continent.
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