The port of Dakar secures 169 million USD on a bond...

The port of Dakar secures 169 million USD on a bond...
The port of Dakar secures 169 million USD on a bond...

(Agence Ecofin) – In Senegal, the port of Dakar raised $ 169 million (for $ 107 million sought) on the WAEMU financial market after only 12 days of subscription. A sign of investor confidence. The funds will be used, among other things, for the construction of the industrial port zone of the future port of Ndayane.

The public call for savings called “PAD 6.60% 2020-2027” launched on October 1, 2020, on the WAEMU regional financial market was a great success for the Autonomous Port of Dakar (PAD). For this bond loan, which closed early on October 12, the total amount of subscriptions collected amounts to 94,623,990,000 FCFA ($ 169 million) out of the 60 billion ($ 107 million) sought. That is a subscription rate of 157.71%, announces the management of the port platform.

The PAD had appointed SGI Invictus Capital & Finance as arranger and lead manager for the structuring and placement of this transaction, the subscriptions of which initially ran until October 30, 2020. ” The early closing of this operation reflects the constantly renewed confidence of investors in the autonomous port of Dakar and in the policy of the State of Senegal aimed at setting up an industrial logistics hub at the regional level. », Welcomes the institution.

To believe, the director of PAD, Aboubacar Sedikh Bèye (photo), the funds mobilized will allow ” to build, on the one hand, roads and common infrastructures (VRD) and, on the other hand, to make the industrial port zone [du port de Ndayane, Ndlr] ready to receive the first investors ”. He admitted that the port of Dakar was undergoing a ” investment delay »At the origin of a certain blockage to the detriment of the Senegalese economy.

Romuald Ngueyap

Read also: 02/10/2020 – Senegal: the Autonomous Port of Dakar launches an issue of $ 107 million on the WAEMU financial market

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