Public Management

Côte d’Ivoire : $1.4 billion to be invested in Abidjan port by 2020

Côte d’Ivoire : $1.4 billion to be invested in Abidjan port by 2020
Thursday, 28 February 2019 19:10

More than XOF800 billion ($1.4 billion) will be invested to extend and modernize Abidjan’s autonomous port in Côte d’Ivoire by 2020, the prime minister Amadou Gon Coulibaly indicates.  

In the framework of that project, Vridi canal inaugurated last February 21 has been resized. The infrastructure is estimated at $255,575,018 (about XOF150 billion), 85% funded by Eximbank China and 15% by the port.

Thanks to this infrastructure, Abidjan port will be able to receive all-size conventional container ships with a 16-meter draft while previously it was 12-meters and the max size of the ship it could receive before was 260-meters. This new configuration will also help reduce waiting times due to the canal being unable to receive some ships. It should also enhance the attractivity of this port.

Abidjan now wants to be a regional hub

During the inauguration of the canal, authorities expressed their ambitions for Abidjan port that takes care of 85% of international exchanges and provides 75% of customs revenues. Along with other large construction projects among which is the construction of a container terminal, Abidjan wants to become a regional hub.

"The enlargement and the deepening of Vridi canal helps reposition Abidjan port as a sub-regional hub in the maritime transport sector. These works will inexorably impact the port’s activities that will now be able to receive latest-generation vessels,” Amadou Gon Coulibaly said.

“Via those infrastructures, we want to be the main port on the African Atlantic coast between Tangier and Cape Town”, Hien Sié, the port’s managing director, declared.

Formerly the second container port on the African Atlantic coast after Lagos port in Nigeria, it was overtaken by Tema port (Ghana) some years ago and by Lomé port (Togo) in 2015, according to data from Dutch maritime analyst Dynamar.

With these important investments, Abidjan is thus trying to regain control of a market where the competition is getting tougher. For this purpose, it also has to tend to some problems like the high fees in Abidjan port. Indeed, according to the World Bank, the cost of a container transiting via Abidjan port is 59% higher at exports and 44% higher at imports.

Borgia Kobri & Zeinab Dosso 

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
32 Nigerian banks meet capital requirements ahead of March 31, 2026 deadline Banks raise 4.61 trillion naira, with 27% from foreign...
Visa says premium cards already widely adopted in Senegal Training aims to help banks better target and serve high-end clients Strategy focuses on...
71% of consumers say lending rates remain non-competitive across African markets. Over 54% of respondents cite a lack of transparency on interest...
Pilot to expand SME financing via crowdfunding Project introduces crowdlending, investing to address limited bank credit FOGEC to guarantee...
Most Read
01

Firms move beyond payments toward integrated SME platforms Services include invoicing, inve...

African fintechs are moving beyond payments - and into business operations
02

The BCEAO now allows UEMOA citizens abroad to open CFA franc accounts under the same conditions as...

West Africa Targets Diaspora Funds With New Banking Access Rules
03

Novo Nordisk cuts Wegovy prices in South Africa amid competition Move targets rival Eli Lil...

Drugmakers ramp up competition in South Africa’s obesity treatment market
04

ECOWAS, Energy China discuss regional power infrastructure cooperation Talks cover $36.3...

ECOWAS, China Discuss Cooperation on West Africa Power Projects Under $36.39B Plan
05

First investor town hall since 2021 signals renewed engagement with markets Authorities hi...

Ghana restarts investor engagement as macro recovery firms after default
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.