Fromtu, a new business based in A.P. Moller - Maersk’s Growth organisation, focuses on connecting buyers and sellers – both exporting from and importing to Africa – and helping them agree on terms, enter into a contract and make the transaction secure with verification of both parties, enabling trade and thereby helping both to grow their business.
The growth potential is considerable: Africa has 16% of the world’s population but accounts for only 3% of global trade. The population is expected to double by 2050 and by then the workforce will be larger than that of China and India.
“We believe that there are some fundamental problems we can solve with technology – building a solution that makes trade more secure and simple. And we have a good fighting chance of being able to do that with support from Maersk – a very strong brand name and an incredible network,” says Fromtu CEO Michael Wiatr.
“We are aiming to enable growth for our customers and Africa and if we do become successful, it will be a great investment for Maersk.”
Next world-class business
A.P. Moller - Maersk has outlined a new path for profitable growth as it becomes an integrated transport and logistics company. It is built on three pillars: organic, acquisitive and through digital development.
Growth, headed by Sune Stilling, has refined the process of how it can turn ideas into growth opportunities with a major impact on A.P. Moller - Maersk’s future revenue, starting with a significant customer pain point and then how that can be resolved.
This can be done in a number of ways: Fromtu is one example of building a company from scratch based on an idea, and Growth is also looking at start-up investments and collaboration at different stages as well as , and private equity plays such as cold chain, which seeks to simplify customers’ supply chains and support top-line growth using existing strengths in reefer capacity and terminals.