AD Ports inked a deal Africa Finance Corporation with (AFC) to develop and invest in African ports

Posted on December 12, 2022   |  

AD Ports Group partnered with the pan-African multilateral development finance institution, Africa Finance Corporation (AFC), to develop and invest in ports, warehouses, shipping, and logistics infrastructure projects in Africa.

AFC has funded over $10 billion in infrastructure projects across 37 countries and developed the first carbon-neutral industrial zone in Africa.

The Nkok Special Economic Zone made Gabon the world’s largest exporter of veneer wood, generating $1 billion in annual export revenue and creating over 30,000 jobs.

The throughput at African ports would reach 2 billion tonnes by 2040, which would be a major challenge regarding the current average dwell time of around 20 days across the continent, compared to the global average of 4 days.