Port Finance International Events - covering global port developments

Search site

RSS
Thursday, 08 June 2017

Port de Caio: A major economic game-changer in Angola

By Jean-Claude Bastos de Morais, Majority Shareholder of Port de Caio By Jean-Claude Bastos de Morais, Majority Shareholder of Port de Caio

In the north Angolan Province of Cabinda, we have been working in partnership with the Angolan government to help finance one of the country’s most exciting and strategically important new infrastructure projects. Now under construction, the Porto de Caio is an investment that represents a significant step-change in the country’s transport and logistics capabilities, positioning the nation as the new west-coast gateway to the continent. It is a project that has the potential to completely transform Angola’s role as an international trade hub.

Porto de Caio is a PPP– the first of its kind in Angola, representing a gear shift in the country’s determination to invest in long-term economic growth. Generating long-term value is of course also in the best interests of our shareholders because the success of the project rests not only upon its development but on its ability to succeed as a commercial venture.

Porto de Caio can truly become an engine for economic growth, raising living standards and creating real opportunities for ordinary Angolans. By developing the Port with integrated free trade and industrial zones, the Porto de Caio will act as a catalyst to economic growth and diversification. This integrated approach to transport and logistics infrastructure development, has proven to be a huge enabler of innovation and business growth in other fast-growing markets (Dubai and Abu Dhabi for example) and by being integrated into a major export and import hub, the location of the free zone represents a smart, strategic economic policy decision.

As private sector investors, we have a responsibility to our shareholders, but most importantly to the Angolan people. In addition, allocating capital to maritime infrastructure provides opportunities for greater diversification of the broader economy and in the medium-term up to 30,000 new jobs, 1,600 of which would be in the port and surrounding close infrastructure – new jobs that would reduce the unemployment rate to around 16% from its current level.

The multiplier effects of any major development are well documented, but for a major international import and export hub that is complemented by free zones, this project has enormous potential to create entirely new supply chains. And of course, supply chains spur innovation and other forms of private investment from growing local businesses. As the springboard for an entirely new economic ecosystem in the northern Province of Cabinda, Porto de Caio is set to be the cornerstone of positive change, creating new opportunities and providing much needed socio economic growth.

A new port in the new millennium, with state-of-the-art facilities and technology will be the game-changer in Angola, a catalyst for increasing economic prosperity and rapid job creation. By introducing best-in-class facilities, free trade and industrial zones, the Port will be an anchor for sustainable economic development in Cabinda and the country at large. These are precisely the kind of investments that African countries should be focusing on in order to achieve a globally competitive edge and the ability to transform their economies and life chances for ordinary people. As an investment company, it is a privilege to be able to play a role in such an important long-term platform for growth – one that we know will benefit everybody.

May 25, 2017

ABOUT US

Port Finance International provides online news and conferences worldwide. It is a platform and a community for senior industry experts and players to review and discuss the market. Our online news team provides daily coverage of international port finance, investment and operations news. A weekly e-newsletter- sent to readers free of charge - covers the key news and views of the week.

Port Finance International's conferences and training programmes are held across the globe. These events feature key industry figures and they address market challenges and trends as well as providing industry players with essential networking opportunities.

Follow us

Newsletter

Sign up for our free newsletter