THE African Export-Import Bank (Afreximbank) has signed an indicative term sheet with APD-Cameroon for the development and operation of a new port terminal in Douala, Cameroon, estimated to cost EUR210 million.
According to the agreement, the financing will be divided into two tranches in Euro and Central African Francs (XAF), with up to EUR147 million in total and Afreximbank contributing EUR80 million. The new terminal, an extension of the existing Port of Douala, will include two new berths, numbered 53 and 54.
Speaking at the signing ceremony during the Afreximbank Annual Meetings (AAM2024), Helen Brume, Director of Project and Asset-Based Finance at Afreximbank, emphasised the importance of this project in addressing Africa’s infrastructure financing gap. ‘By signing this term sheet, we are committed to helping our countries bridge this gap. We applaud the initiative of APD-Cameroon, which, through this project, promotes an innovative financing mechanism via a public-private partnership, thereby reducing the financial burden on the Government of Cameroon,’ said Brume.
She highlighted the strategic role of the Port of Douala as a key trade gateway for Central African countries, serving as a vital port for landlocked nations like Chad and the Central African Republic.
Marc Tabhcy, Founder and Chairman of APD-Cameroon, expressed pride in contributing to the port’s expansion and specialisation. ‘We are honoured to be part of the expansion of the Port of Douala by building additional berths dedicated to dry bulk. The committed resources will develop this critical infrastructure, significantly contributing to economic growth, creating employment opportunities, and encouraging inter-African trade,’ Tabhcy noted.
The new specialised terminal is expected to bolster Cameroon’s position as a leading economic power in the central African region. AAM2024, combined with the third AfriCaribbean Trade and Investment Forum (ACTIF2024), concluded on June 15.
