AD Ports Group, Africa Finance Corporation ink deal AD Ports Group, Africa Finance Corporation ink deal
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AD Ports Group, Africa Finance Corporation ink deal

AD Ports Group, Africa Finance Corporation ink deal

The two organisations aim on identifying, developing and investing in ports, warehouses, maritime and logistics infrastructure projects across Africa

Divsha Bhat
Africa

AD Ports Group, the facilitator of trade, logistics and industry, and the Africa Finance Corporation (AFC), a provider of infrastructure solutions in Africa, have inked a contract to address infrastructure gaps across the continent.

The two organisations aim on identifying, financing, developing and investing in much-needed ports, warehouses, maritime and logistics infrastructure projects across Africa.

Both parties will bring their technical expertise and financial capacity and networks to a range of development initiatives, focusing on brownfield and greenfield opportunities.

The collaboration agreement may also offer crucial assistance to ports and maritime facilities in Africa, which are frequently overburdened by rising import demand and industrial production facilities driven by exports and in need of significant investment to be modernised, expanded in capacity and made more productive.

AFC is a pan-African multilateral development finance institution that bridges the infrastructure investment gap through the provision of financing solutions that cover the entire project cycle as well as technical and advisory services. Over the last 15 years, the company has invested more than $10bn in infrastructure projects across 37 countries in Africa.

It has developed and financed the first carbon neutral industrial zone in Africa, the Nkok Special Economic Zone, which has made Gabon the largest exporter of veneer wood globally, generating $1bn in annual export revenue and creating over 30,000 jobs, a statement said.

AD Ports Group has significant expertise in the construction and operation of ports, free zones, logistics and maritime hubs, and is currently active in a range of development projects in territories as diverse as Jordan, Egypt and Iraq.

Capt Mohamed Juma Al Shamisi, managing director and group CEO, AD Ports Group, 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, in-line with the direction of our wise leadership to support progressive development.”

Samaila Zubairu, president and chief executive officer of AFC, said: “Combining AFC’s specialist expertise and outstanding investment track record with AD Ports Group’s technical proficiency, I am confident that our collaboration will yield the development of some of the most advanced integrated ports and logistics platforms in Africa and the world at large. We look forward to a continued partnership as we work together to unleash Africa’s economic potential and transform lives on the continent.”

Read: AD Ports Group, Iraq’s IDB sign agreement for port and logistics development

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