The Pointe-Noire Port in Congo is set for expansion. This follows a €230 million secured in financing by Congo Terminal, a subsidiary of Africa Global
The Pointe-Noire Port in Congo is set for expansion. This follows a €230 million secured in financing by Congo Terminal, a subsidiary of Africa Global Logistics (AGL), to support the expansion of the Container Terminal at the port.
The total cost of the three-year project amounts to €361 million and will include the construction of a 750-metre quay with a depth of 17 metres and a surface area of 28 hectares. The project is expected to be completed by 2027.
The financing agreement was arranged through a bank syndicate led by Crédit du Congo and Attijariwafa Bank, with support from local banks including EcoBank, Banque Commerciale Internationale, Banque Sino-Congolaise pour l’Afrique, and BGFIBank Congo. Crédit du Congo played a central role in structuring and coordinating the financing efforts among the banks.
Boost in economic development
Hicham Fadili, CEO of Crédit du Congo, highlighted the significance of the project as a milestone for private sector investment in the country. He emphasized that the successful completion of the financing reflects the commitment of local banks to contribute to Congo’s economic development. Congo Terminal, a joint venture involving AGL, APM Terminals, and SOCOTRANS, has managed container and ro-ro vessel operations at the port since 2009. In August 2023, the concession agreement was amended, extending its duration until 2050 in exchange for the planned expansion.
According to Anthony Samzun, Managing Director of Congo Terminal, the expansion will allow the port to accommodate larger vessels, improving trade efficiency and strengthening Congo’s position in global commerce.
“The achievement marks a major milestone for Congo Terminal and for the development of the country’s infrastructure. Thanks to this cooperation with all partners, the terminal will be able to accommodate the largest container ships, thus contributing to the fluidity of trade and the competitiveness of the Congolese economy on the international scene,” said Anthony Samzun, Managing Director of Congo Terminal.