Congo Terminal secures financing for expansion at Pointe-Noire Port

Congo Terminal, a subsidiary of Africa Global Logistics (AGL), has signed a €230 million (150.88 billion CFA francs) financing agreement for the expansion of the Container Terminal at the Autonomous Port of Pointe-Noire (PAPN). The financing will support the construction of a 750-metre quay with a depth of 17 metres and a surface area of 28 hectares by 2027. The total cost of the three-year expansion project is €361 million.

The agreement was secured through a bank round led by Crédit du Congo and Attijariwafa Bank, with participation from Congolese banks including Crédit du Congo, EcoBank, Banque Commerciale Internationale, Banque Sino-Congolaise pour l'Afrique, and BGFIBank Congo. Crédit du Congo played a key role in structuring the financing and coordinating efforts between banks.

"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.

Congo Terminal, a joint venture between AGL, APM Terminals, and SOCOTRANS, has held the concession for container and ro-ro vessel handling at the port since 2009. In August 2023, the concession contract was amended to extend its duration until the end of 2050 in exchange for the expansion. The project aims to increase the port’s capacity and support economic activities in the region.

"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.