Côte d’Ivoire: Port operator secures €90m financing package

The Terminal Industriel Polyvalent de San Pedro (TIPSP) has secured a 10-year senior debt financing package of €90 million from three commercial lenders, including the Standard Bank of South Africa Limited, Stanbic Bank S.A., Nedbank Limited London Branch and FirstRand Bank Limited. TIPSP holds a 35-year concession agreement with the Autonomous Port of San Pedro that grants TIPSP the right to handle the import and export of multiple liquid and dry bulk commodities such as clinker, gypsum, limestone and mining ores (such nickel, manganese, lithium, bauxite, iron, etc).

A strategic partnership between Arise Ports & Logistics, S. Energies and the Republic of Côte d’Ivoire, TIPSP is the newest West African port dedicated to interconnected and agile exports. Arise Ports and Logistics is backed by three influential shareholders on the continent: AP Moller Capital, Africa Finance Corporation and Olam International.

Ebrima Sawaneh, chief operating officer of Arise Ports & Logistics says, “We are so pleased that a modern, state-of-the-art dry bulk terminal at TIPSP has enabled San Pedro to become a hub capable of servicing trade in the country and wider region. Mining ores such as nickel have been central to TIPSP’s shipping volumes since the port came into operation.”

Roselyne Chambrier Chalobah, country head and managing director of Arise Ivoire says, “This is the first project for Arise Ports & Logistics in Côte d’Ivoire and it is a showcase for competitiveness, competence and performance. Thanks to the Government of Côte d’Ivoire and the Port Autonome of San Pedro we have the opportunity to demonstrate our agility and execution capabilities to become the gateway for bulk cargo for this part of West Africa and unleash the full trade potential of an entire hinterland.”

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