The construction of container terminal at Port of Walvis in Namibia is ready to start. The government of Namibia signed a US$338 million loan agreement with The African Development Bank Group (AfDB) in November 2013 after the project was approved by AfDB.
The project is expected to enable Nambian Ports Authority (Namport) to triple the container-handling capability at the Port of Walvis Bay from 350,000 TEUs to 1,050,000 TEUs per annum. It will also fund the procurement of up-to-date port equipment and the training of pilots and operators for the new terminal. The grant component will fund the preparation of the National Logistics Master Plan study, technical support and capacity-building for the Walvis Bay Corridor Group and training of freight forwarders with particular emphasis on female staff.
According to the AfDB Director of Transport and ICT, Amadou Oumarou: “Through this project which potentially serves up to seven major economies in the SADC region, the Bank is assisting in the diversification and distribution of port facilities on the southwest coast of Africa, and provides the much-needed alternative for the region’s landlocked countries.”
The projected results will include improvement in port effectiveness and increase in cargo volumes by 70% in 2020 as a result of increased trade in the region. The benefits of the project will include among others, the stimulation of inter-regional trade and regional integration, private sector development, skills transfer and most importantly employment creation, leading to significant economic development and poverty reduction in Namibia, and the SADC region.