Page 24 - LUA November - December 2023 for Magzter

NEWS

AFC exits stake in Ghana’s Takoradi Port to Yilport

frica Finance Corporation (AFC) In 2019, AFC committed to invest up Ghana and neighbouring landlocked
Ahas exited its 35 percent equity to $138 million in equity and debt for countries by modernising a container
investment in Atlantic Terminal Services the Takoradi Port Expansion Project. and multipurpose terminal. Through
Limited (ATSL), the concessionaire The project, which is approaching the this transaction, AFC exits its
for the expansion of Ghana’s Takoradi operational phase, reduces the cost shareholding, while Ibistek and Ghana
Port, to the global ports and container of imports and exports to and from Ports & Harbours Authority remain as
terminals operator Yilport Holding. the western and central regions of shareholders in the project.

AGL moves 2Africa fibre DP World signs 30-year concession

optic cables in DRC, Congo to operate Dar es Salaam Port

frica Global Logistics (AGL) was responsible for the
Alogistics of the cables destined to serve the Congo
and the DRC, as part of the “2Africa” project, which
aims to build the world’s largest fibre optic submarine
cable, linking Africa to Europe and the Middle East. P World has signed a 30-year period, alongside hinterland
In the DRC, 89 tonnes of cables and various Dconcession agreement with logistics projects, the release
equipment from France destined for this project were the Tanzania Ports Authority added. "The Port will connect to
handled by AGL DRC team. They handled customs (TPA) to operate and modernise the hinterland of sub-Saharan
clearance, warehousing and transport from Matadi the multi-purpose Dar es Salaam Africa through a network of
to Muanda, where the equipment was deployed. In Port, connecting Tanzania and the roads, highways, railways and
Congo-Brazzaville, 45 tonnes of cables sent by ship from wider region to global markets. dedicated freight corridors and
France were delivered to the Congo’s territorial waters. DP World will initially ports, supporting the growing
For this project, AGL mobilised equipment dedicated invest more than $250 million demand for logistics solutions
to delivering cables on the high seas. The company to upgrade the port and the across the continent and
also handled customs clearance and administrative investment could increase to $1 connecting businesses in the
formalities for this exceptional operation. billion during the concession region to global markets."

22 LUA NOVEMBER - DECEMBER 2023