Public Management

Port of Dakar posted €16mln net profit in 2020

Wednesday, 09 June 2021 17:31
Port of Dakar posted €16mln net profit in 2020

(Ecofin Agency) - The Port Authority of Dakar ended 2020 on a positive note, achieving a net benefit of €16 million over the period.

"The financial statements closed on December 31, 2020 and reviewed by the auditors show a net profit of more than CFA10.56 billion (€16 million) after payment of more than CFA3 billion in corporate taxes," CEO Ababacar Sédikh Bèye (pictured) said yesterday during the general meeting of shareholders.

Although positive, the figure is down 24% compared to the net profit of CFA13.9 billion reported in 2019. The 2020 turnover is also down by 2.7% compared to the previous year when revenues had reached CFA61.3 billion.

According to Ababacar Sédikh Bèye, a number of facts have impacted the result achieved in 2020. "These are the collection of dividends from Dubai Port (DP) and Dakar Terminal (+CFA6 billion), the gain on the outcome of the G3S case (+4.2 billion), the rental of SONACOS land for the parking lot (-1.86 billion) and the contribution of the port to the Covid Force Fund with nearly CFA1.2 billion," he explained.

For 2021, the head of PAD wants to reach the objectives set out in the Strategic Development Plan (PSD) 2019-2023.

Romuald Ngueyap

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