Port Autonome de Dakar

New National Port of Dakar and Special Economic Zone (SEZ).

Challenge:

• The current port is constrained by its location in central Dakar with the city
  surrounding it.
• The port is considered to be one of the city’s main contributors to traffic congestion, as trucks must enter the city precinct.
• The port is also constrained as it has no deep-water access.
• The port is one of the major ports of west Africa and a key driver of potential economic growth.
• Under-investment in port equipment has resulted in limitations in port cargo processing capabilities, an old and inefficient port lay-out means delays and congestion.

Solution:

• EAIF acted as anchor of the regional XOF bond to finance the construction of a new modern port facility and Special Economic Zone. The bond, a regional offering to the XOF region of west Africa totalled XOF 60bn (US$107m).
• The 7-year bond will finance the first phase of relocating the Port of Dakar and the construction of a new Special Economic Zone at Popinguine-Ndayane, near Dakar.
• The deep-water port will have enhanced road and rail networks access into the west Africa region, securing Dakar’s position as a regional trade hub.
• Construction expected to begin in late 2022.

Impact:

• The port is a ‘4th generation’ industrial port, and will be one of the most advanced ports in Africa.
• Turnaround times will fall by between a half and two thirds.
• A “Green port” strategy includes a largescale tree planting programme.
• An additional 400 jobs will be created when the port relocates.
• c.3,000 construction jobs.
• EAIF promoting improvement of bond market efficiency through better transparency, covenants and reporting on ESG/HSES standards.
• A new City district rejuvenation project in the location of the old port.