The Gambia, SIFAX Group sign MoU to build, operate dry port
SIFAX Group, a multinational company with interests in maritime, aviation, haulage & logistics, oil & gas and hospitality, has signed a Memorandum of Understanding (MoU) with the government of Gambia to build and operate a dry port in the country’s capital, Banjul.
A dry port (sometimes inland port) is an inland intermodal terminal directly connected by road or rail to a seaport and operating as a centre for the transshipment of sea cargo to inland destinations.
The MOU was signed in Banjul by Mr. John Jenkins, Group Managing Director, SIFAX Group and Mr. Abdoulie Tambedou, Managing Director, Gambia Ports Authority (GPA).
After the signing ceremony, the SIFAX Group delegation, which also included Dr. Taiwo Afolabi, Group Executive Vice Chairman and Mr. Saheed Lasisi, General Manager, Business Development and Strategic Planning, also met with the Gambian President, Mr. Adama Barrow, where prospects of extending the company’s investment plan to other sectors of the country’s economy was discussed.
The terms of the MoU include a multi-million dollar investment in the building and operations of the dry port to decongest the Port of Banjul in a public-private partnership business model.
While thanking the president for the opportunity to invest, Afolabi assured him of SIFAX Group’s willingness to open up the economy by investing in other sectors that will help the Gambia grow and compete favourably among her peers in the continent and beyond.
On his own part, Jenkins assured that the company will rely heavily on its 30-year-old business experience acquired working in various sectors and countries as it sets out to turn around the country’s maritime sector.
“We are delighted as a company to begin this journey of investing in The Gambia.
As a company, we have a record of success in all the sectors and countries we operate.
We will bring our experience and expertise to bear in the running of the dry port,” Jenkins said.
President Barrow thanked the delegation for choosing Gambia for their investment foray, adding that the country needs a lot of investment, both local and foreign, to grow the economy. He promised to provide the necessary enabling environment for SIFAX Group and other foreign investors to thrive.