Home » Congolese businessman Paul Obambi to invest $74 million in Douala Port project

Congolese businessman Paul Obambi to invest $74 million in Douala Port project

Obambi's Sapro Group set to transform Douala Port for long-term prosperity

by Omokolade Ajayi
Paul Obambi

Sapro Logistics Cameroon, the Cameroonian arm of the Sapro Group led by Congolese businessman Paul Obambi, has secured a $74 million agreement with the Autonomous Port of Douala (PAD) to modernize port infrastructure and ease congestion.

The deal, signed on Dec. 21, 2023, follows a three-year selection process where Sapro emerged victorious. The ambitious project, starting at an unspecified date, will be executed under a Build-Operate-Transfer (BOT) model with an estimated three-year timeline.

Sapro Logistics Cameroon pledges to shoulder the entire $74 million investment (excluding taxes) independently, without financial support from Douala Port authorities or the Cameroonian state. This self-funded approach underscores Sapro’s confidence in the project’s viability and potential to transform the port’s infrastructure and alleviate congestion.

Strategic expansion: Inside Sapro’s 15-hectare logistics oasis, addressing port congestion woes

The facility will span two sites covering a total area of 15 hectares, comprising a logistics zone occupying five hectares and a truck parking area spanning 10 hectares. The truck waiting area, a pivotal component of the project, will accommodate 621 semi-trailers and 30 truck tractors, to alleviate persistent congestion issues on access roads to the port.

The logistics zone will feature a state-of-the-art loading and unloading dock, railway tracks, a modular metal warehouse, container storage areas, and broad circulation lanes to facilitate seamless vehicle mobility. Sapro will assume operational control of the infrastructure for 21 years, projecting an Internal Rate of Return (IRR) of 185.1 percent over 24 years.

Obambi’s Sapro Group set to transform Douala Port for long-term prosperity

Cyrus Ngo’o, the director-general of the Autonomous Port of Douala, underscores the project’s strategic significance, emphasizing its alignment with the master development plan for the port through 2050. The initiative is expected to generate 250 direct jobs and approximately 800 indirect jobs, contributing to the economic development of the region.

Obambi’s Sapro Group, established in 1992, operates across 11 countries on 3 continents, with subsidiaries in energy, construction, manufacturing, and services. The investment in Douala Port reflects the group’s commitment to sustainable economic growth and infrastructure development in the region.

The development project not only responds to the immediate need for enhanced logistics and storage capabilities but also aligns with the broader objectives of Douala Port’s long-term development plan.

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