Africa’s Export Markets Set to Boom In Wake of Ports Expansion
With Africa’s overall port utilization capacity now exceeding 70 percent, ports authorities and terminal operators are actively calling for partners in development to equip Africa’s ports and harbors for neopanamax shipping requirements.
As international trade volumes increase at growth rates of six to eight percent per year, expansion projects in Africa follow suit and gain momentum. Trade facilitation and port reform aim to propel Africa’s export markets to compete on a global stage. The establishment of modern and efficient seaports has climbed to the top of Africa’s transport agenda to enable port connectivity and increase cargo throughput so much so that port and corridor expansion is not only creating new business opportunities for port city development across the sub-Saharan region but now also opening up new access to hinterland areas and strategic trade corridors.
Against this backdrop, the sixth annual African Ports Evolution Forum unites ports authorities, terminal operators, investors, and government from more than 29 countries to boost intra-African trade, reduce port congestion, increase port connectivity and throughput and identify new business opportunities to boost expansion and modernization.
Port expansion and upgrade projects currently underway across Africa are valued in the billions. The value of ports projects underway in Tanzania currently total $13.6 billion and Mozambique has already witnessed investments of $8.3 billion towards ports upgrade and expansion in 2017 alone.
The African Ports Evolution Forum, to take place in October in Durban, South Africa, will explore the myriad opportunities available for the generation of new revenue streams at African ports through concessions, systems upgrades, expansion projects and more, unlocking channels for the ports’ development pipelines in line with the 2040 Vision for Africa’s transport sector. The 2040 Vision for Africa’s transport sector is an integrated African continent where transport infrastructure and services enable the free movement of goods and passengers by providing efficient, safe, secure, reliable and seamless transport options.
Two collocated events take place alongside the African Ports Evolution Forum 2017: the African Rail Evolution Forum focusing on rail rehabilitation and maintenance and Trade and Investment Kwa-Zulu Natal’s Export Week promoting KwaZulu-Natal’s export businesses and industries. Over 100 exhibitors will showcase their products and services to a qualified audience of hundreds of Africa’s leading maritime decision makers.