This forms part of a restructuring and cost-cutting exercise following the serious financial hit it took from the Covid-19 lockdown.

The African and European logistics provider has about 25 000 employees in South Africa, Africa, and its international operations.

However, Imperial Logistics CEO Mohammed Akoojee said the Logistics Africa business, which is largely in South Africa, was more impacted than its Market Access business because of the more severe local lockdown.

In addition, this business provides logistics to key sectors, such as tobacco and liquor, that were closed for most of the period.

However, Akoojee said Imperial is also positioning itself to take advantage of opportunities that arise post-Covid-19, including strategic acquisitions.

Moneyweb