The port of Douala-Bonabéri is continuing to modernize its infrastructures and superstructures in order to bring more added value to port operators and more competitiveness to the Cameroonian economy. In this context, Afriland First Bank has just disbursed €24 million in

The construction of these storage areas is part of a vast plan to modernize the port platform, the main gateway for trade between Cameroon and its neighbours in Chad and the Central African Republic. The Société de Gestion des Magazines Ports (SGMP) and Afriland First Bank have concluded a financing agreement with a total cost of 16 billion FCFA for the construction of docks at the conventional terminal in the port of Douala-Bonabéri. Under the agreement signed in October 2020 between the Erdem Group, SGMP's parent company, and the Port Autonome de Douala (PAD), the project will be carried out under a BOOT — Build-Own-Operate Transfer (Build-Own-Operate Transfer) contract

The concession is expected to last 25 years. SGMP will also operate and maintain the open areas surrounding the docks. Indeed, the “temporary warehouses or deposit areas [...] built in the years before Cameroon's independence are out of phase with the current dynamics in the port sector”, explains the manager. The port of Douala is home to more than 80% of Cameroonian industries that are installed in the port sector and its surroundings (Bonaberi, upstream and upstream areas). Equipped with 13 bonded stores, it has a storage capacity of 11 million tons. At the end of the 25-year contract, the port authority will earn more than 8 billion FCFA and 10 new stores, without spending a single franc