Africa Finance Corp (AFC), an infrastructure solutions provider based in Nigeria, has successfully exited its 35 percent equity investment in Atlantic Terminal Services Ltd (ATSL), the concessionaire responsible for the expansion of Ghana's Takoradi Port. The exit marks AFC's ability to attract international third-party capital and underscores its role in derisking and developing critical infrastructure assets. In 2019, AFC committed up to $138 million in equity and debt for the Takoradi Port Expansion Project, which is now approaching the operational phase. This project modernizes a container and multipurpose terminal under a twenty-five-year concession, reducing the cost of imports and exports for the western and central regions of Ghana and neighboring landlocked countries. AFC retains its position as a lender to the project.
Takoradi Port, a vital seaport in Ghana's Western Region, plays a crucial role in the nation's economic growth, regional connectivity, and efficiency. The project is integral to Ghana's national development plan to revitalize and industrialize the western region, enhance competitiveness, build local capacity, and generate employment opportunities. AFC's successful exit and Yilport Holding's investment in the project are significant milestones that contribute to reshaping West Africa's economic landscape and improving supply chains in the region. Yilport Holding, a global port operator, is set to transform the port and its adjacent area into a logistics and trading hub, making it an ideal entry point into Africa.