{"id":88238,"date":"2025-10-17T17:00:46","date_gmt":"2025-10-17T17:00:46","guid":{"rendered":"https:\/\/www.africa-press.net\/gambia\/uncategorized\/the-port-the-loan-and-the-30-year-question"},"modified":"2025-10-19T07:00:32","modified_gmt":"2025-10-19T07:00:32","slug":"the-port-the-loan-and-the-30-year-question","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/gambia\/all-news\/the-port-the-loan-and-the-30-year-question","title":{"rendered":"The Port, the Loan, and the 30-Year Question"},"content":{"rendered":"

Africa-Press – Gambia. <\/strong><\/span>Many thought it meant foreign investment when Gambians heard that Albayrak Group, through its subsidiary Alport Banjul, had signed a 30-year Public-Private Partnership (PPP) to manage and modernise the Port of Banjul.<\/b><\/p>\n

But a closer look at the fine print and the recent Zenith Bank financing deal raises more complex questions, whose money is really being used, and who will own the benefits?<\/p>\n

A \u201cprivate investment\u201d that draws from Gambian banks<\/b><\/p>\n

On paper, Albayrak is bringing modernisation, machinery, and efficiency to the port, with new tractors, stackers, and construction works underway.<\/p>\n

But the company\u2019s latest financing reveals something different, Instead of bringing fresh capital from Turkey, Albayrak took a commercial loan from Zenith Bank Gambia to fund the rehabilitation project.<\/p>\n

That means the capital fueling this \u201cforeign investment\u201d is mainly domestic money, the same limited pool Gambian businesses struggle to access for trade or production.<\/p>\n

In other words, the port project isn\u2019t injecting foreign exchange into the economy; it\u2019s pulling from it.<\/p>\n

For a country battling forex shortages, this financing model could tighten liquidity, weaken reserves, and limit credit to local firms.<\/p>\n

The 80\/20 split: Adeal that tilts the scales<\/p>\n

Under the 30-year agreement, Alport Banjul keeps 80% of all port-generated revenue, while The Gambia retains only 20%.<\/p>\n

That\u2019s not a short-term management contract, it\u2019s a generational handover. Supporters say it brings expertise and modernisation; critics call it economic surrender.<\/p>\n

For context, even Senegal\u2019s private port operators under DP World retain far smaller profit margins, with the host state maintaining majority oversight.<\/p>\n

An 80\/20 split means that for every D100 earned at the Banjul Port, D80 goes abroad, and only D20 stays to fund schools, hospitals, and national development.<\/p>\n

The risk hidden in the loan<\/b><\/p>\n

Investors praise Albayrak\u2019s loan with Zenith Bank as a \u201cvote of confidence.\u201dBut for Gambians, it raises at least three critical risks:<\/p>\n

1. Currency drain:<\/b> If loan repayments or dividends are made in dollars or euros, that\u2019s another steady outflow of foreign exchange.<\/p>\n

2. Local credit pressure:<\/b> Zenith\u2019s lending capacity is limited by local deposits. A large facility in Alport could crowd out Gambian SMEs seeking financing.<\/p>\n

3. Sovereign exposure:<\/b> If the government provided any guarantees (directly or indirectly, as seen in past PPPs), public funds could be on the hook if the company defaults.<\/p>\n

These are not minor issues; they are fiscal and macroeconomic risks that deserve parliamentary scrutiny.<\/p>\n

Efficiency vs equity<\/b><\/p>\n

Alport claims success: zero vessels waiting, had delays cut by 70%, new machinery on site.<\/p>\n

But efficiency without fair revenue-sharing or capital inflow is like a fast-moving train headed in the wrong direction.<\/p>\n

A port can be modern and still bleed national wealth if ownership and financing structures favour the foreign operator more than the host state.<\/p>\n

The real question for citizens<\/b><\/p>\n

If the Turkish company is borrowing from Gambian banks, earning in dalasi, repatriating profits in dollars, and keeping 80% of the revenue,<\/p>\n

What exactly is The Gambia gaining besides promises of modernisation?<\/p>\n

And when that 30-year clock runs out, what will be left?<\/p>\n

A rebuilt port or another contract that privatised national wealth under the banner of investment?<\/p>\n

The bottom line<\/b><\/p>\n

The Banjul Port modernisation should have been a symbol of renewal.<\/p>\n

Instead, it risks becoming another public asset leveraged for private gain, financed by Gambian money, repaid in foreign currency, and locked in a 30-year imbalance.<\/p>\n

Genuine partnership means shared risk, shared capital, and shared benefit.<\/p>\n

Until then, Gambians must keep asking the tricky question:<\/p>\n

When foreign investors borrow locally, who\u2019s truly investing, and who\u2019s truly paying the price?<\/p>\n

For More News And Analysis About Gambia<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Gambia. Many thought it meant foreign investment when Gambians heard that Albayrak Group, through its subsidiary Alport Banjul, had signed a 30-year Public-Private Partnership (PPP) to manage and modernise the Port of Banjul. But a closer look at the fine print and the recent Zenith Bank financing deal raises more complex questions, whose […]<\/p>\n","protected":false},"author":84,"featured_media":88237,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[260],"class_list":["post-88238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-gambia"],"yoast_head":"\nThe Port, the Loan, and the 30-Year Question - Gambia<\/title>\n<meta name=\"description\" content=\"Many thought it meant foreign investment when Gambians heard that Albayrak Group, through its subsidiary Alport Banju ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/gambia\/all-news\/the-port-the-loan-and-the-30-year-question\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Port, the Loan, and the 30-Year Question\" \/>\n<meta property=\"og:description\" content=\"Many thought it meant foreign investment when Gambians heard that Albayrak Group, through its subsidiary Alport Banju ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/gambia\/all-news\/the-port-the-loan-and-the-30-year-question\" \/>\n<meta property=\"og:site_name\" content=\"Gambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-17T17:00:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-19T07:00:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2025\/10\/sm_1760709981.270585.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"356\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/the-port-the-loan-and-the-30-year-question#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/the-port-the-loan-and-the-30-year-question\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"The Port, the Loan, and the 30-Year Question\",\"datePublished\":\"2025-10-17T17:00:46+00:00\",\"dateModified\":\"2025-10-19T07:00:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/the-port-the-loan-and-the-30-year-question\"},\"wordCount\":612,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/the-port-the-loan-and-the-30-year-question#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2025\/10\/sm_1760709981.270585.jpg\",\"keywords\":[\"Gambia\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/gambia\/all-news\/the-port-the-loan-and-the-30-year-question#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/the-port-the-loan-and-the-30-year-question\",\"url\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/the-port-the-loan-and-the-30-year-question\",\"name\":\"The Port, the Loan, and the 30-Year Question - 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