AfricaMiddle EastPorts and Logistics

AD Ports teams with AFC to invest in African ports

Abu Dhabi-based ports and logistics giant AD Ports Group has partnered with the pan-African multilateral development finance institution Africa Finance Corporation (AFC), to develop and invest in ports, warehouses and shipping and logistics infrastructure projects across Africa.

The partnership is expected to see a range of development initiatives, focusing on brownfield and greenfield opportunities.

AFC has invested more than $10bn in infrastructure projects across 37 countries in Africa. AFC developed and financed the first carbon neutral industrial zone in Africa, the Nkok Special Economic Zone, which has made Gabon the world’s largest exporter of veneer wood, generating $1bn in annual export revenue and creating over 30,000 jobs. The approach is being replicated by the Arise platform in Benin and Togo.

AD Ports Group is currently active in a range of development projects in territories as diverse as Jordan, Egypt and Iraq and is also looking for joint investment opportunities in Tanzania with Hong Kong’s Hutchison Ports and India’s Adani.

The company said that African ports and maritime facilities are often overstretched by growing demand for imported goods and export-driven industrial production facilities that require “significant investment to modernise and increase capacity and enhance productivity.”

Citing a report from the African Union (AU), AD Ports added that throughput at African ports would reach 2bn tonnes by 2040, which would represent a major challenge considering the current average dwell time of around 20 days across the continent, compared to the global average of four days.

Captain Mohamed Juma Al Shamisi, managing director and Group CEO of AD Ports, said: “Some of the world’s fastest-growing economies are in Africa, necessitating the creation a new generation of ports and maritime facilities, supported by smart technology and enhanced freight infrastructure. We see a key opportunity to support African nations in their efforts to develop advanced trade hubs that can manage the rising volume of maritime commerce and deliver excellent connectivity. Working with AFC, we will look to prioritise projects that can make a lasting impact on the economies and communities of their respective nations.”

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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