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
Intelcia to buy back 65% stake from Altice, regain full ownership by 2026 Group targets global top 10 ranking by 2030 through acquisitions, AI...
Sovereign Trust Insurance will launch a rights issue to raise up to NGN 5 billion (USD 3.5 million). Nigeria’s new Insurance Industry Reform Act...
Burkina Faso plans fund to support senior entrepreneurship and economic activity Proposed support includes micro-loans, rural projects, and...
BADEA provides a $75 million term loan to Africa Finance Corporation to expand infrastructure financing capacity. AFC plans to channel the funds...
Most Read
01

Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...

Anthropic Partners with Rwanda, ALX to Deploy Claude-Powered AI Learning Companion Across Africa
02

(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...

MCB deploys strategic financing to Invictus Investment to scale up its agro-food operations in Africa
03

S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...

S&P Raises Zambia’s Foreign-Currency Rating to CCC+
04

Government, ESCWA, and experts meet to shape national framework Plan aims to fight corruption, c...

Mauritania Advances Blockchain Policy to Modernize Digital Public Services
05

MTN Innovation Lab hosts Africa HealthTech Export 2025 Bootcamp in Cotonou Event targets s...

Africa HealthTech Bootcamp Opens in Benin With Focus on Regulation and Startup Growth
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.