Takoradi concession secured by IBISTEK

Turkey-based Yilport Holding has bought Africa Finance Corporation’s (AFC’s) 35% equity stake in Atlantic Terminal Services Limited (ATSL), the concessionaire responsible for expanding the port of Takoradi in Ghana

The country is turning to the private sector as it makes a bid to catch up with rival ports vying for West African cargo volumes

A 25-year concession to operate the multipurpose terminal at the Port of Takoradi has been awarded to Ibistek, which is entirely owned by Ghanaian investors.

Since 1 September, Ghana’s main ports, including those at Tema and Takoradi, have become paperless.

In the West African port sector, Ghana is on the rise, while terminal development in Nigeria, Africa’s largest economy, has stalled.

Although West Africa’s biggest container terminal is under construction in Ghana at Tema, an off-dock container terminal is to be developed at the neighbouring port of Takoradi. All containers handled at the port will be stored and processed at the new Takoradi Container Terminal (TACOTEL).