By Adama Makasuba
Turkish company Albayrak has secured an 80% stake in the Banjul port for 30 years after signing a concession agreement with the Gambian government to finance the country’s sole seaport expansion for $20.5 million.
Under the agreement, signed in July 2024, the Gambian government will contribute 20% over the upcoming three decades.
In line with the efforts to enhance the ports, the Gambia Ports Authority organized a stakeholder meeting to outline the operational procedures. During this period, the port is set to be rebranded as Alport.
At the meeting, Ousman Jorbtateh, the managing director of the Gambia Ports Authority, characterized the agreement as a decision made in the country’s best interest, especially as the port faced financial hurdles in funding the expansion project.
“The primary reason for entering this agreement is that the financial resources needed to invest in Banjul’s capacity are currently unavailable to the GPA, making port expansion very challenging. We are also contending with regional competition. To remain relevant as a port in today’s environment, we need to elevate our standards,” he stated.
Ousman emphasized that the agreement would not adversely affect businesses, asserting its objective is improving port efficiency. “The concession is not intended to jeopardize jobs or businesses; rather, it is aimed at enhancing the efficiency of the ports,” he added.
