Finance

DIT, a subsidiary of the APMT and Bolloré groups, welcomes the ruling handed down in its favour by the ICC arbitration tribunal

DIT, a subsidiary of the APMT and Bolloré groups, welcomes the ruling handed down in its favour by the ICC arbitration tribunal
Saturday, 14 November 2020 15:25

DIT was forced to turn to the ICC arbitration tribunal under the 2004 concession agreement on the following two points:

  • sharing of parking rights between the Autonomous Port of Douala (APD) and DIT ;
  • preventing DIT from participating in the tender procedure launched in January 2018.

On November 13, 2020, the arbitration tribunal recognized the merits of DIT's two claims.

Consequently, the arbitration tribunal ordered the PAD to pay DIT in damages and to re-issue an open tender notice including DIT.

DIT welcomes these decisions in accordance with the rule of law.

The recourse to arbitration was provided for under the APD-DIT concession agreement of 2004. In accordance with the arbitration rules of the ICC, the ruling was handed down in full independence by a tribunal composed of the two parties.

DIT stresses the fact that the Cameroonian courts have already ruled on several occasions in favor of DIT’s main shareholders on the irregularity of the tender procedure for the container terminal concession and the illegality of the public company implemented by APD to operate the container terminal.

Naturally, DIT and its main shareholders will continue to defend their rights relative to all the parties involved before national and international jurisdictional bodies, particularly as concerns the requisitions of its personnel and assets ordered illegally by APD at end-December 2019.

About DIT

Douala International Terminal, the main shareholders of which are APMT and Bolloré Ports, was the operator of the container terminal at the Port of Douala from 1 January 2005 to 31 December 2019. Over the 15-year concession period, DIT fitted the terminal with modern equipment and infrastructure resulting in a threefold improvement in performance (with 350,000 TEU recorded in 2019) and invested above and beyond its initial commitments. With 450 employees, DIT obtained ISO 9001 certification (quality management) and was the first terminal to obtain ISPS certification (maritime security). The company regularly led initiatives in favor of disadvantaged populations and young people. At the end of the concession period, and despite the cancellation by the Cameroonian courts of the result of the call for tenders on the new concession for the container terminal, PAD illegally ordered the requisition of DIT personnel and equipment. The matter has been referred to the court and the company is awaiting the continuation of the procedures.

dit douala

On the same topic
Guizhou Tyre plans a nearly $300 million tire plant in northern Morocco The factory will produce 6 million passenger vehicle tires per year The...
Fidelity Bank raised 259 billion naira, lifting eligible capital above CBN requirements First Bank of Nigeria also confirmed compliance after multiple...
Carrefour signed a franchise and supply agreement to enter Ethiopia with Midroc’s Queens Supermarket PLC. The partners will convert 13 existing stores...
Ecobank Nigeria repaid about $245 million, or more than 80%, of its $300 million Eurobond due in February 2026. The early repayment reduced...
Most Read
01

Ethiopia agreed in principle with investors holding over 45% of its $1 billion eurobond due 2...

Ethiopia Secures Preliminary Eurobond Restructuring Deal With Private Investors
02

The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...

AES Launches Confederal Investment Bank: A Strategic Pivot Toward Sahelian Financial Sovereignty
03

Africa’s AI adoption is accelerating, but its ability to scale depends primarily on foundational i...

Africa’s Artificial Intelligence Moment : Infrastructure, Governance and the Path to Scale
04

Flutterwave acquired Nigerian open banking startup Mono in an all-share deal valued between $...

Flutterwave Adds Open Banking With Mono Acquisition
05

African billionaires increased their combined net worth by $21.9 billion in 2025. Nigerian b...

Africa’s Billionaires Post Strong Gains as Global Wealth Hits Record
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.