Africa Global Logistics has announced the signing by its subsidiary, Congo Terminal, a financing agreement of 150,880,000,000 CFA francs (equivalent to 230,000,000 euros) for the extension of the Container Terminal of the Autonomous Port of Pointe-Noire (PAPN). This achievement was made possible thanks to a banking round led by Crédit du Congo and Attijariwafa Bank as arrangers and composed exclusively of Congolese participating banks: Crédit du Congo, EcoBank, Banque Commerciale Internationale, Banque Sino-Congolaise pour l'Afrique, and BGFIBank Congo.
Other expressions of interest from banks and international institutions have been made regarding this project, reflecting overall interest in its development.
This financing will enable the construction of a new 750-linear metre quay in 2027, covering a surface area of 28 hectares and with a depth of 17 metres. The three-year project represents a total cost of 361 million euros. This strategic investment aims to strengthen the operational capacity of Congo's only maritime outlet and will support the economic development of the country and the sub-region.
The presence of the country’s main banking players highlights both the capacities of Congolese financial institutions and their confidence in the stability and potential of Congo Terminal. Crédit du Congo played a central role in structuring the financing and coordinating efforts between partner banks, thus facilitating the implementation of this ambitious project.
Congo Terminal, a joint venture between AGL, APM Terminals, and SOCOTRANS, employs more than 900 permanent staff and is recognised as a company of national importance by the Central African Banking Commission (COBAC). Since 2009, it has been the exclusive concessionaire for the handling of container ships and ro-ro vessels at the Autonomous Port of Pointe-Noire. In August 2023, an amendment to the concession contract for the extension of the Terminal was signed, extending the concession duration until the end of 2050.
This expansion of the PAPN demonstrates the Congolese government's commitment to meet the growing demand from the local and regional markets and reaffirms confidence in Congo Terminal. This project will also significantly impact the country’s economic development, stimulate local activities, and create employment opportunities.
"The financing of a private sector project of this magnitude is a first. Its completion testifies to the commitment of local banks to support the country’s economic growth, thus benefiting our customers, the local community, and all the economic actors involved," said Hicham Fadili, Chief Executive Officer of Crédit du Congo.
"This 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 stage," said Anthony Samzun, Managing Director of Congo Terminal.
"The Môle Est project is fully in line with the vision of the highest authorities of the State, particularly that of President Denis Sassou-Nguesso, who aspires to make the port of Pointe-Noire the reference transshipment hub for the entire sub-region. This project illustrates a successful public-private partnership and demonstrates the commitment of all stakeholders to promote the country's economic growth," said Séraphin BHALAT, Director General of the Autonomous Port of Pointe-Noire.
