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
Ghana enacts the VASP Bill 2025 to regulate digital assets under the Bank of Ghana, ending years of legal and regulatory ambiguity. The law mandates...
Sanlam Maroc takes a stake in Woliz, a local retail tech startup The deal marks Sanlam’s first long-term private equity venture in Morocco Investment...
Treasury securities issuance reached CFA5,272.8 billion from January to October Bond issues exceeded Treasury bills, signaling a shift to longer-term...
US strikes in Sokoto test Nigeria's financial stability, causing Eurobond yields to surge and investor risk premiums to rise sharply. The Naira...
Most Read
01

Kenya shipped its first mango consignment to the UK on December 20 The move is part of a pilo...

Kenya targets UK market to boost mango exports
02

Nomba brings Apple Pay to 300k Nigerian shops. Following Paystack, this "second row" move enables ...

Beyond Online Checkouts: Apple Pay Finds a Second Row into Nigeria via Nomba
03

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
04

Kenya’s CMA licensed Safaricom and Airtel Money as Intermediary Service Platform Providers (ISPPs)...

Safaricom and Airtel Money Licensed to Facilitate Capital Markets Access in Kenya
05

In Africa, the transformation of food systems has become an urgent issue in the face of rapid popula...

AGRA’s Lilial Githinji “Leadership capacity remains the missing ingredient in Africa’s food systems transformation”
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.