• Benin

11 April 2024 | 11:53

Africa Global Logistics mobilizes 50 billion CFA Francs for the extension and modernization of the Port of Cotonou

Bénin Terminal, a subsidiary of Africa Global Logistics, in collaboration with a banking consortium composed of Societe Generale Benin, Vista Bank, Ecobank, CBAO Groupe Attijariwafa Bank and CBAO BENIN, has finalized a financing agreement of 75 million euros (about 50 billion CFA francs). This financing covers the extension and modernization of the container terminal at the Port of Cotonou.

With this envelope, Bénin Terminal plans to acquire state-of-the-art equipment and develop new concession areas. These improvements are intended to support the significant increase in volumes handled at the Port, reflecting the region’s economic growth dynamics.

The project plans to double the length of the terminal’s quay to 1,100 meters, and increase the number of quay and yard gantry cranes, as well as port tractors. Approximately 15 hectares of new medians will be developed and accompanied by the creation of a new access to the terminal. This expansion will not only double the capacity of the terminal to approximately one million TEU (Twenty-Foot Equivalent Units) containers, but also strengthen the position of the Port of Cotonou as a modern and secure logistics hub in the region.

«This financing agreement marks a decisive turning point for the Port of Cotonou container terminal. These investments will considerably increase our operational capacity, thus benefiting our customers, the local community and all the economic players involved» Fabrice Ture, Managing Director of Bénin Terminal

In terms of jobs, the project will employ nearly 600 workers at the peak of construction, with an anticipated 200 direct and indirect jobs as soon as the work is completed (machine operators and technicians). Bénin Terminal is also focusing on the participation of local companies and SMEs in the execution of the work.

This expansion project is designed to significantly improve the efficiency of the container terminal, with a direct impact on cargo handling capacity and support for the regional economy. The competion of the works, scheduled for 2026, is therefore an important milestone in the development of the Port of Cotonou.

The financial commitment of Societe Generale Benin, Vista Bank, Ecobank, CBAO Groupe Attijariwafa Bank and CBAO BENIN to the Port of Cotonou container terminal extension project reflects confidence in the Port’s growth potential and its strategic importance for Benin and the region.

This project promises to position the Port of Cotonou as a reference in terms of quality logistics services, thus contributing to the sustainable economic development of Benin and the region.

About Benin Terminal

Thanks to 142,000,000,000 billion FCFA (216 million euros) invested since 2013 by Benin Terminal, the container terminal at the port of Cotonou has become a regional logistics hub of growth for Niger, Mali, Burkina Faso and Nigeria. A major player in the country’s supply chain, Benin Terminal employs 419 Beninese and is developing a subcontracting policy that generates a thousand indirect jobs. Benin Terminal also carries out actions for the population in partnership with NGOs, for example support for the schooling of young people affected by HIV, support for the empowerment of young people and awareness of the preservation of the environment.

About AGL (Africa Global Logistics)

AGL is the leading multimodal logistics operator in Africa. It offers global, tailor-made and innovative logistics solutions to its African and international customers. In December 2022, AGL joined the MSC Group, the world’s leading shipping company. Thanks to its network of 250 logistics and maritime agencies, 22 port and rail concessions, 66 dry ports and 1 river terminal, AGL benefits from an expertise developed over more than a century. With more than 23,000 employees in 49 countries, AGL’s ambition is to make a lasting contribution to Africa’s transformations. AGL is also present in Haiti and Timor.

Press contacts:

Rachel HOUNSINOU – Media Relations Manager – AGL

Rachel.hounsinou@aglgroup.com – Tel: +33 01 88 87 10 14 – 06 43 27 16 91

Francis VIKOU – Head of Communication & Substainable Development – Benin Terminal

francis.vikou@benin-terminal.com – Tel: +229 96 39 53 52

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