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FedEx directly contributed 0.1 percent to the net economic output of the Middle East, Indian Subcontinent and Africa (MEISA) region’s transportation, storage and communications sector in FY2024.
In addition, FedEx indirectly contributed an estimated $280 million to the region’s overall economy in FY2024, says an official release.
The annual economic impact report reveals that FedEx contributed more than $85 billion in direct impact to the global economy in FY2024, accounting for approximately 0.1 percent of the world’s total net economic output.
“Produced in consultation with Dun & Bradstreet, the study underscores the FedEx Effect — the impact FedEx has on accelerating the flow of goods and ideas that generate economic growth across countries and regions.”
Raj Subramaniam, President and CEO, FedEx says: “At FedEx, we have a vision to make supply chains smarter for everyone by leveraging advanced data and technology to better serve our customers and their customers, thereby extending our reach and impact. “The FedEx Effect represents our relentless commitment to excellence, economic growth, and the communities where we live and work.”
Kami Viswanathan, Regional President, MEISA, FedEx adds: ““At FedEx, we’re dedicated to supporting the remarkable growth and transformation happening across the MEISA region. Be it helping businesses in the Middle East diversify into emerging technologies, supporting Africa’s young and dynamic population or connecting India’s digital innovations to the world, our infrastructure and services are designed to expand trade opportunities. By investing in sustainable solutions like electric vehicles and innovative shipping options, we’re proud to contribute to both the economic and environmental progress of the region.”
In South Africa, FedEx’s focus on sustainable logistics and a company-wide goal of transforming the FedEx pickup and delivery (PUD) fleet to zero-emission tailpipe vehicles by 2040 has led to the addition of electric delivery vehicles and the consolidation of operations into a more energy-efficient hub in Johannesburg, the release added.
Some other highlights:
*In FY2024, FedEx installed a new screening machine at the imports gateway facility in Johannesburg to improve the customs inspection process. The screening machine allows customs officials to review the contents of a shipment without having to physically handle the package, reducing inspection time.
*FedEx also consolidated four of its stations into a single hub in Johannesburg that incorporates sustainable technologies. Features include motion-activated lights to conserve energy and multiple rainwater collection tanks to reduce the company’s draw on municipal water sources.
*To help small and medium-sized businesses accelerate their growth, FedEx launched the SME Connect Series in South Africa, Kenya and Nigeria, allowing SMEs to extend their global reach, which in turn supports local job creation and economic activity. In FY2024, FedEx continued to enhance its portfolio of SAM-focused services, including offering discounted packaging services and domestic/international shipping to smaller companies around the world. The most significant benefit of these partnerships has been the ability to offer tailored solutions that help SMEs optimise their operations, reduce costs, and expand their market presence.
*FedEx supports small businesses through its supplier purchasing and is committed to sourcing from diverse businesses that are competitive in quality, service and cost.
More than 1,000 FedEx team members dedicated 2,400 volunteer hours for community projects in 13 cities across MEISA in FY2024. FedEx donated a container classroom to The Wana Johnson development Project in Eastern Cape, South Africa and contributed to rural African education, the release added.
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