By Nasratu Kargbo
Parliament has unanimously ratified an agreement for the construction of the country’s first transnational shipment port in Banana Island at Kent.
According to the Minister of Transport and Aviation, Fanday Turay, the port will primarily target transnational shipment. The concession agreement between the government of Sierra Leone and Gento Group of Companies SL Limited for the design, financing, construction and operationalization of a seaport within the Dublin and Rickets communities on Banana Island, and a Logistics hub (harbour terminal) at Kent, was ratified on the 11th of July 2024.
The Minister of Transport said the port is meant to serve as a trans-shipment hub with the aim of tapping into the trans-shipment market in the sub-region.
He said the existing Queen Elizabeth Quay has served the country well, but was quick to note that the increasing volume of trade, advancement of marine technology and the need for enhanced connectivity demands that the country expands their capabilities.
Turay noted that the proposed port will not affect the operations of the existing quay.
Speaking on some of the economic benefits the port will offer when constructed, the Minister said the port will be catalyst for economic growth, revealing that the Gento Group has allocated 10% shares to the government, and will be paying royalties and other related fees and charges. He noted that it will serve as a source of revenue through port fees, custom duties and other charges related to shipping and logistics services.
He said that it will create over a thousand jobs during the construction phase and provide permanent jobs during its operation.
In addition, the Minister said the port will serve as a hub for international trade, attracting foreign investment, boosting the country’s export visibility and reducing the cost of importation. “This will ultimately lead to lower prices for goods and services, thereby benefiting every citizen” he assured.
The Minister said the location for the construction of the port was carefully chosen, explaining that it has a natural water depth of twenty-three (23) metres, which makes it the deepest in Africa. He added that depth allows it to accommodate larger container vessels, which is significant in transforming the country into a major trans-shipment hub in Africa.
The Deputy Leader 2 of the Opposition Aaron Aruna Koroma said the agreement seeks to right the historical wrongs, explaining that in the 16th, 17th and 18th centuries the Island was historic in transatlantic slave trade, stressing that Sierra Leoneans never asked why the island was selected as a port for trans-shipment of slaves across the continent. He said that the reason was because the ships were very large and that they needed a port with depth.
He said the port offers the opportunity for bigger vessels to come into the country, adding that the ships that come into the country are small with huge cost, stressing thatbigger vessels will lead to a reduction in freight cost.
The Leader noted that even though other countries like Nigeria, Togo, and Gambia in the sub-region have invested over five billion dollars to expand their ports, none of them is more than sixteen (16) metres deep. He said with the depth the port has, it will host bigger vessels and make it a transnational hub that will service countries in the sub-region.
Speaking of the advantages that the agreement offers, Koroma said 100 percent of the proceeds made would remain in the country and boost foreign exchange reserves.
Referring to the agreement, the MP encouraged the government to invest more in the project.
Koroma expressed excitement saying for the first time an agreement that is Sierra Leonean- led was brought before them, and thanked the CEO of Gento Group of Companies Mohamed Gento Kamara for bringing such an initiative.
The Speaker of Parliament Segepoh Solomon Thomas expressed delight over such an agreement.
He compared the depth of the proposed port to other ports across the continent, citing Togo which has sixteen point five (16.5) metres depth, Ghana with fourteen (14) metres, Morocco and Nigeria sixteen (16) metres each.
The port is a two billion dollar investment, which is expected to be in full operation within three years.
Copyright © 2024 Politico (15/07/24)
