During a one-on-one discussion at the Africa CEO Forum in Abidjan moderated by Ramah Nyang, a journalist with CGTN and Bloomberg, Soren Toft, CEO of MSC, shared his perspectives on global and African trade dynamics. The discussion covered among other topics the impact of global trade tensions and the strategic importance of the African market for MSC.
Mr. Toft highlighted the repercussions of the ongoing tariffs between China and the United States, which have led to a notable decline in trade between these two economic giants. He remarked, however, that there has been a resurgence in trade from Southeast Asia, although it has not entirely offset the decrease in Chinese trade.
Shifting focus to African trade, Mr. Toft noted the stable trade flows within the continent and emphasized the growing importance of inter-African trade. "We are very keen on Africa. We are big believers in Africa," Mr. Toft stated, underscoring MSC’s commitment to expanding its footprint in the region. He mentioned that MSC aims for double-digit annual growth in its inter-African business, indicating a robust strategy for the future.
The conversation also touched on the critical challenges in implementing the Continental Free Trade Area (AfCFTA). Mr. Toft pointed out the need to harmonize customs procedures and standardize paperwork to facilitate smoother trade flows. He stressed the importance of liberalizing customs and documentation processes to unlock the full potential of inter-African trade.
In terms of investments, MSC is committed to making significant contributions to the efficiency of African ports and expanding its logistics network. “Our investments are aimed at making African ports more efficient and enhancing the overall logistics infrastructure,” Mr. Toft explained.
Safety concerns, particularly piracy, were also discussed. Despite a decrease in reported piracy incidents, Mr. Toft emphasized the continued importance of precautionary measures to ensure the safety of seafarers. He stated that MSC remains vigilant and regularly adjusts its navigational routes to mitigate piracy risks.
The session concluded with a reaffirmation of MSC’s long-term belief in Africa’s growth potential, driven by demographic trends and expanding trade opportunities.