AFREXIMBANK APPROVED US$280M FOR BOANKRA INTEGRTED LOGISTICS TERMINAL PROJECT

The African Export-Import Bank (Afreximbank) has provided an amount of US$280 million to the Afum Quality Limited of Ghana, an infrastructure finance and investment firm, in support of the Boankra Integrated Logistics Terminal Project.

The Ghana Shippers Authority is the client for the project, while the concessionaire is Ashanti Ports Services Limited, a joint venture of Afum Quality Limited of Ghana and DSS Associates of the Republic of Korea.

The Port, located in the Ejisu municipality of the Ashanti Region is the first inland port project being undertaken by the government as part of the government’s grand plan to develop an efficient intermodal framework that spurs Ghana’s transport sector onto a world-class level.

The Chief Executive Officer (CEO) of Afum Quality Limited, Mr Isaac Afum, who disclosed this in an interview said when completed, the 413-acre port facility space would automatically create a commercial hub in the middle belt of Ghana through the establishment of logistics and supply chain system around the terminal.

According to him, the port will also promote technology and skill transfer to strengthen the local resources for the country’s development, and to create the much-needed employment opportunity for the populace.

“This project seeks to provide services for importers and exporters in the middle and Northern parts of Ghana while acting as a major conduit for the efficient transportation of transit traffic to and from neighboring landlocked countries of Burkina Faso, Mali, and Niger,” he added.

President Nana Akufo-Addo in November 2020 cut sod for work to commence on the US$330 million project, popularly referred to as the Boankra Inland Port Project.

Delivering his address at the sod-cutting ceremony, the President indicated that the important aspect of Ghana’s agenda for development in the transport sector was to establish an intermodal framework where rail, road, port, riverine and other pipeline transport projects complement each other.

He said it would also improve the operational efficiency of the existing seaports in Tema and Takoradi (Western Region), while facilitating greater intermodal linkages with Ghana’s landlocked trade partners in Burkina Faso, Mali, and Niger.

“When completed, this project will provide significant employment opportunities to Ghanaians while creating through the inland port’s supply chain, including export processing, warehousing, transportation and receipt, and delivery operations. Boankra inland Port would be served by a new modern standard gauge rail network,” he added.