African Sea-ports Flourish
Elsewhere the news is much more cheerful. The opening of Nigeria’s ‘game-changing’ billion-dollar deep-water seaport in Lekki, in early 2023, together with other ongoing and upcoming projects around the continent reflects an increasingly competitive race for the top shipping hub slots in Africa. Currently, a host of other major multi-billion dollar investments geared towards improving existing infrastructure or putting up new ports are ongoing in countries including Morocco, Algeria, Angola, Egypt and Senegal.
According to the African Union, more than 90% of Africa’s imports and exports are transported by sea, making the continent a strategic gateway to global trade. UNCTAD data shows Africa accounts for 2.5% of exports and 3% of imports in world merchandise trade by value by 2020. An ‘Africa ports race’ that started in the 1990s is expected to significantly bolster the continent’s maritime trade.
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