CDC Bénin and WADB sign a loan agreement for FCFA 30 billion to finance the construction of the Maritime Affairs Centre

On Wednesday 19 June 2024, the West African Development Bank (WADB) and the Immobilière du Centre des Affaires Maritimes (ICAM SA), a subsidiary of the Caisse des Dépôts et Consignations du Bénin (CDC Bénin), signed a loan agreement for FCFA 30 billion to finance the construction of the Maritime Affairs Centre (Centre des Affaires Maritimes “CAM”).

The signing ceremony took place at CDC Benin headquarters in Cotonou (Benin), in the presence of a WADB delegation led by its Vice-President, Mr Moustapha Ben Barka, the Representative of the Minister of the Economy and Finance in charge of Cooperation, Mr Primaël GBEKE, the Director General of the Port Authority of Cotonou, Mr Bart Jozef Yohan Van Eenoo, the Chairwoman of the Board of Directors of ICAM S.A, Mrs Maryse LOKOSSOU, Director of CDC Bénin, Mrs Elvire HOUEDE AGBO, Managing Director of ICAM S.A and executives from the institutions present.

The Centre des Affaires Maritimes, currently under construction not far from the Port Authority of Cotonou, is a flagship project of the Government’s Action Programme for the “modernisation and extension of the Port Authority of Cotonou”. This building complex, designed to accommodate all the port’s stakeholders in a modern, functional and appropriate setting, will comprise two R+7 buildings, one R+5 building, a R+3 car park with 1,600 spaces and a parking area for motorbikes with a capacity of 288 spaces.

The construction of this centre will relieve congestion at the Port of Cotonou and improve the fluidity of port operations by bringing together all the services and players involved in import-export activities on the port platform in a single, functional area. The signing of this loan agreement marks the beginning of a promising partnership between WADB and CDC Bénin, in the service of Benin’s economic and social development, and also represents an important milestone in the construction of CDC Bénin’s real estate business.

At the end of the ceremony, a site visit was made to reassure the various stakeholders that the CAM construction work was progressing well.

ICAM S.A, 99% owned by CDC Bénin and 1% by the Port Authority of Cotonou, is responsible for managing the construction project and operating the Centre des Affaires Maritimes.