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Signalling its intention of being a major player in the fast growing Africa market, AD Ports Group has signed a collaboration agreement with the Africa Finance Corporation (AFC), one of the leading infrastructure solutions providers in the region. The deal aims to help address infrastructure gaps across the continent, especially in the ports and logistics sectors.
The agreement provides the basis for the two organisations to join forces in identifying, financing, developing and investing in much-needed ports, warehouses, maritime and logistics infrastructure projects across Africa. Both parties aim to bring their technical expertise and strong financial capacity and networks to a range of development initiatives, focusing on both brownfield and greenfield opportunities.
Over the last 15 years, AFC has invested more than US$ 10 billion in infrastructure projects across 37 countries in Africa, while 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 overseas development projects in Jordan, Egypt and Iraq.
The collaboration agreement is expected to provide vital support for ports and maritime facilities in Africa, which 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. According to a report from the African Union (AU), throughput at African ports will reach 2 billion tonnes by 2040, a major challenge when the current average dwell time, the time cargo spends at port, is around 20 days across the continent, compared to the global average of four days.
Welcoming the new agreement, 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.”
