AD Ports Group (ADX: ADPORTS), a global facilitator of trade, logistics, and industry, has partnered with Africa Finance Corporation (“AFC”), Africa’s leading infrastructure solutions provider, to tackle infrastructural gaps in Africa.
The partnership forms a foundation upon which the two bodies can unite to identify, finance, develop and invest in infrastructure projects across Africa including, ports, warehouses, maritime and logistics. Both organisations will combine their technical expertise, financial capacity and networks in achieving development initiatives, with focus on brownfield and greenfield opportunities.
AFC is a pan-African multilateral development finance institution that provides financing solutions, as well as technical and advisory services for the duration of a project cycle. Over the last 15 years, AFC has developed and financed infrastructure projects across 37 countries in Africa, one of which is the first carbon neutral industrial zone in Africa, the Nkok Special Economic Zone, situated in Gabon, making it the largest exporter of veneer wood globally, at the same time increasing revenue and job opportunities. This initiative was reproduced by the Arise platform in Benin and Togo.
More recently, AFC, in collaboration with UAE’s Masdar and EBRD, acquired Lekela Power, the continent’s largest renewables independent power producer, with the goal of doubling it’s generation capacity within four years.
Managing Director and Group CEO, AD Ports Group, Capt. Mohamed Juma Al Shamisi, said: “Some of the world’s fastest-growing economies are in Africa, necessitating the creation a new generation of ports and maritime facilities, supported by smart technology and enhanced freight infrastructure. Working with AFC, we will look to prioritise projects that can make a lasting impact on the economies and communities of their respective nations, in-line with the direction of our wise leadership to support progressive development.”
President & CEO of AFC, Samaila Zubairu also commented saying: “We are pleased to sign this collaboration agreement with AD Ports Group today, demonstrating the UAE’s ongoing enthusiasm to invest and deploy expertise in Africa. Combining AFC’s specialist expertise and outstanding investment track record with AD Ports Group’s technical proficiency, I am confident that our collaboration will yield the development of some of the most advanced integrated ports and logistics platforms in Africa and the world at large.”
AD Ports Group specialises in the construction and operation of ports, free zones, logistics and maritime hubs, and is presently involved in development projects in various territories. AD Ports Group’s portfolio consists 10 ports and terminals, and over 550 square kilometres of economic zones within KEZAD, the largest integrated trade, logistics, and industrial business grouping in the Middle East.
Established in 2006, AD Ports Group today serves as the region’s foremost facilitator of logistics, industry, and trade, their integrated business approach has proven instrumental in driving the emirate’s economic development over the past decade.
This partnership will could provide the necessary support for ports and maritime facilities in Africa, which require significant investment to modernise and increase capacity and productivity.