Turkish company, Albayrak, will now hold an 80% share of Banjul port over a period of 30 years after signing a concession agreement with The Gambia government to fund the expansion of the country’s only seaport at a tune of $20.5 million.

Under the agreement, signed in July 2024, The Gambia government will hold 20% for the coming three decades.

As part of efforts to expand the ports, The Gambia Ports Authority held a stakeholders meeting, aimed to communicate the operational procedures, as the port is set to be named Alport during this period.

Speaking at the meeting, Ousman Jorbtateh, managing director of The Gambia Ports Authority, described the agreement as in the best interest of the country, which he asserted came as the port was faced with financial challenges to fund the expansion project.

“The main reason for going into consensus is that the financial resources that are required to do the investment in the capacity are implemented in Banjul. GPA doesn’t have those resources that’s why it’s been very difficult to expand the port. And we are faced with competition. Looking at the sub region nowadays, to remain as a port you need to up your game,” he said.

He assured the agreement would not negatively impact businesses, stating that it aims to enhance efficiency in the ports

“The concession is not coming to put people out of business or out of jobs, rather it’s coming to enhance efficiency in the ports,” he added.