The Government of The Gambia and The Gambian Port Authority (GPA), supported by MTBS as sell-side Transaction Advisor, successfully completed the PPP (Public-Private Partnership) transaction in the port sector! GPA and the Government signed with the Turkish Port Operator Albayrak a contract to rehabilitate the Port of Banjul and develop a new deep sea port in Sanyang. This marks a significant achievement and we are proud that our team has been able to provide support with expertise and dedication to enable this strategic investment and partnership.
The capacity and the infrastructure at the Port of Banjul is currently insufficient to accommodate demand, imposing severe restrictions to the growth of the Gambian economy. Therefore, the GPA started a trajectory, supported by MTBS, to select an internationally renowned operator. The operational capabilities and investment commitment of Albayrak will significantly improve the competitiveness of the Gambian port sector as well as the Gambian economy, to the direct benefit of the Gambia and its population.
For MTBS, this is another milestone, supporting African and other developing countries in attracting private funds and know-how to drive economic progress and enhance port operations.
Our colleagues, Robert Schot and Matthias Beckers, attended the signing ceremony where the Managing Director of the Gambia, Ousman Jobarteh, expresses his reflection on the collaboration with MTBS as transaction advisor: “Throughout the transaction and negotiations processes, MTBS has rendered professional support, which has contributed towards the successful conclusion of the Concession Agreement between GPA and Albayrak for the Port of Banjul Development and Construction of a new Deep Seaport in Sanyang. The technical support and meticulous analysis by MTBS of the financial and commercial aspects of the transaction led to the closure of the deal to the benefit of the Client, GPA.”
We would like to congratulate the Gambian people and are convinced this project will provide a significant boost to the economic development of the nation.
For further information, please contact:
Robert Schot Senior Manager MTBS E: [email protected] M: + 31 (0) 6 2089 6295