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Equatorial Guinea has signed a landmark agreement with Turkey’s Albayrak Group, granting the company a 25-year concession to operate, modernize, and develop the ports of Malabo and Bata. The deal, finalized on November 13 in Malabo, follows two years of negotiations and reciprocal visits, further solidifying Turkey’s growing influence in Africa’s infrastructure sector.
Expanding Albayrak’s African Portfolio
The Albayrak Group, a prominent Turkish conglomerate, has been steadily increasing its footprint across Africa since acquiring operational rights for Somalia’s Mogadishu Port in 2014. The group now operates in eight African countries, including Guinea, Gambia, Congo, and the Democratic Republic of Congo. The new concession adds Malabo and Bata ports to its expanding portfolio, alongside its operations in Pointe-Noire, Conakry, and Banjul.
Key Figures Attend the Signing Ceremony
The high-profile signing ceremony featured representatives from both nations. Turkey was represented by Albayrak Group Chairman Ahmet Albayrak, Vice Chairman Nurettin Canikli, and Turkey’s Ambassador to Equatorial Guinea, Ahmet Ergin. On the Equatorial Guinean side, Prime Minister Manuel Osa Nsue Nsua, Minister of Transport Honorato Evita Oma, and Minister of Finance Ivan Bacale Ebe Molina were present.
Why the Deal Matters
The partnership underscores Turkey’s commitment to strengthening its economic ties with Africa, leveraging its expertise in infrastructure and logistics to foster regional development. Equatorial Guinea benefits from Albayrak’s proven track record in port operations and modernization, as seen in its successful projects in Mogadishu, Conakry, and Banjul.
Broader Implications for African Trade
Modernized ports are expected to significantly boost Equatorial Guinea’s trade capacity, enhance logistical efficiency, and attract foreign investments. This aligns with the nation’s long-term goals of diversifying its economy and increasing global trade integration.