
Brazilian logistics giant JSL is setting its sights beyond Latin America, targeting new opportunities in Africa’s booming markets.
The company, led by CEO Ramon Alcaraz, recently opened its second African operation in Ghana, adding to its existing presence in South Africa.
“Africa presents significant growth potential,” Alcaraz stated in a Reuters interview.
“We see numerous opportunities in countries across the continent.” JSL, with 2023 revenues reaching 8.9 billion reais ($1.64 billion), is a major player in cargo transportation, storage, and urban goods distribution.
JSL’s initial foray into Ghana involves 40 trucks, with plans to double that capacity within the next two years.
The company sees promise in other African nations, including Nigeria, acknowledging the logistical challenges present in some regions.
“Africa’s large populations and potential for economic growth create a perfect environment for our services,” Alcaraz explained.
“Even minor economic improvements can significantly increase consumption, offering us substantial growth opportunities.”
JSL is pursuing an aggressive expansion strategy not only in Africa but also domestically in Brazil.
Through both organic growth and acquisitions, the company has absorbed eight competitors in the past four years.
They remain open to further acquisitions in Brazil, targeting companies with up to 1.5 billion reais in annual revenue.
Brazil’s fragmented logistics market, with limited rail infrastructure and a heavy reliance on roads, presents similarities to the challenges faced in many African countries.
JSL, controlled by holding company Simpar, is confident its expertise can navigate these obstacles and capitalize on the growth potential in both regions.
While the company’s stock price has fallen 16% so far this year, their expansion plans suggest a bullish outlook on the future.