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SIFAX Group to build, operate multi-million dollar Dry Port in Gambia

other investments in the country

Dr. Taiwo
Afolabi, Group Executive Vice Chairman, SIFAX Group and Adama Barrow,
President, Republic of Gambia  (middle), with officials of SIFAX Group and
Gambian government during the signing of the MoU for SIFAX Group to build and
operate a multi-million dollar dry port in Gambia.

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

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 extensively.

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 in the country, Dr. Taiwo Afolabi assured him and the
people of Gambia of SIFAX Group’s willingness to open up the economy of the
country by not only build and operate a world-class Inland Container Terminal
but also invest in other sectors that will help the Gambia grow and compete
favourably among her peers in the continent and beyond.

He said: “SIFAX Group believes in making
Africa the focus of its investment hub. We are of the view that Africans stand
a better chance to sincerely develop and tap the array of business and growth
opportunities that abound in the continent. 

“We have been doing this in some
West African countries and we are sincerely grateful to the president for
opening the doors of The Gambia to us. Our promise is that the country’s
economy will feel our impact as we don’t intend to limit our interventions to
the maritime sector alone. We have identified other areas we will be willing to
invest in the nearest future.”

On his own part, Mr. John 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.

“The project will help in
decongesting the Port of Banjul, create employment for the people of Gambia and
make the port very profitable and competitive. These are some of the values
SIFAX Group will bring to the table,” Jenkins said.

President Adama 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.

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