The Kribi Autonomous Port and Kribi Oil and Grain Terminal signed a memorandum of understanding on Friday, October 9 to develop an agro-industrial platform valued at 50 billion CFA francs, of which 40 billion remains to be raised. The project aims to begin operations in 2029, subject to completion of studies, authorisations and financing.
The KOGT consortium plans to contribute 20% of the cost in equity, or 10 billion CFA francs. BGFI Bank Cameroun is to support the financial structuring and coordinate the search for the balance among partners, according to information published by the port authority and the Cameroonian economic press.
The planned platform would occupy 9.20 hectares within the port complex. It would include 17 silos with a total storage capacity of 102,000 tonnes, four warehouses of 5,000 square metres each, quality control laboratories, and transport and maintenance facilities.
The terminal would be connected to deep-water quays capable of accommodating vessels carrying up to 50,000 tonnes. It is to receive, store and move agricultural and agro-industrial products, with the aim of reducing cargo handling breaks and delays between unloading, storage and distribution.
The port estimates that construction could generate between 600 and 800 jobs, followed by about 200 positions during operations. These figures remain projections tied to a project that has not yet reached the construction phase.
Construction is expected to begin in 2027. Signing the protocol sets the framework for cooperation between the port and the consortium, but it does not amount to financial close or a go-ahead to start work. The timetable will depend in particular on raising the 40 billion CFA francs still being sought.