The Autonomous Port of Dakar, through its Strategic Development Plan, aligns itself with the 2035 vision of the Emerging Senegal Plan (PSE), which is that of a driving force for emergence, through an outstanding logistical competitiveness in the sub-region. This vision is focused on "performance and innovation, and goes through a transformation plan that, with the help of priority projects and flagship projects, aims to achieve the strategic objectives of reference, such as: customer satisfaction of more than 39 points; a turnover of 100 billion CFA francs; a profitability of 15%". This, through four main axes, namely: "develop an efficient and fluid port; implement an innovative offer for containers and services; equip itself with an efficient, agile and innovative organization and human resources; develop strategic partnerships for a regional hub".

It is in this context that it has launched a bond called "PAD 6.60% 2020-2027". The official launch ceremony was held this Thursday, October 1, 2020, at the captaincy of the port of Dakar. It noted the presence of the representative of the Minister of Fisheries and Maritime Economy, the representative of the Minister of Finance and Budget, Cheikh Tidiane Diop, moreover, Director General of the Treasury, the Director General of the Autonomous Port of Dakar, Ababacar Sédikh Bèye, Chairman and Chief Executive Officer (CEO) of Invictus Capital and Finance, El Hadj Mbacké Fall, Chairman of the Board of Directors of the Port of Dakar, Moussa Sy, Director of the National Stock Exchange Antenna (Anb) of Senegal, Oumar Dème, from the Grand Serigne of Dakar, Abdoulaye Makhtar Diop, among others.

60 billion to finance the construction of the port of Ndayane

This is a bond issue by Public Offering (APE) of 60 billion CFA francs on the financial market of the West African Economic and Monetary Union (WAEMU) to finance the construction of land infrastructure at the port of Ndayane. For the structuring and placement of the operation of this loan, the Port of Dakar has mandated SGI Invictus Capital & Finance as arranger and leader of the investment syndicate.

The nominal value of this loan is 10,000 CFA francs. The number of securities issued is 6 million bonds and the interest rate is set at 6.60% per year. The duration of the loan is 7 years including 2 years of deferred capital. And the securities will be in dematerialized form, registered in account with the Central Depository/Regulatory Bank (DC/BR). They are kept in the books of WAEMU SGIs, or banks holding accounts/licensed custodians. Interest, on the other hand, will be payable semi-annually from the date of enjoyment of the securities.

Income related to the obligations of the Port of Dakar is exempt from income tax (IRVM) for subscribers residing in Senegal. Investors who are not resident in Senegal, on the other hand, will be subject to the tax legislation on income from securities in force in their country of residence at the time of interest payment.

The allocation of securities will be made during the subscription period according to the order of arrival of the subscribers collected without distinction of the type of investors. And a complete subscription is materialized by the subscription form duly completed and signed and returned by the SGI placer, accompanied by the necessary provision.

"Realization of the port of Ndayane, a necessity for the port of Dakar"

According to the DG of the Port of Dakar, the project of construction and development of the port of the future or port of Dakar in Ndayane is both one of the flagship projects of this vision whose realization has become a necessity for the port of Dakar but also an integral part of the Emerging Senegal Plan.

According to him, the new port of Ndayane will allow the port of Dakar to "attract by 2025 the latest generation ships thanks to its quay depth of 18 meters (the largest on the Atlantic coast) and will be backed by a Port Industrial Zone (Zip) to become one of the most important industrial clusters. dynamics of the African continent.

"More than 75% financial autonomy"

The financial director of the port of Dakar, Babacar Niang, in his presentation of the operation, wanted to reassure future subscribers. He argued that to date, the port of Dakar has more than 75% financial autonomy. "The port of Dakar benefits from an "Investment grade" rating awarded in April 2020 by the rating agency WARA. It is rated "A-" in the long term and "w-3" in the short term. The outlook attached to this rating is stable," he told the audience.

"Strong governance with a high level of competence and results oriented"

Babacar Niang adds that at the end of 2019, "thanks to the six-month battle and under the impetus of the 2019-2020 Transformation Plan, the turnover of the Port of Dakar increased by more than 25%; operating costs were stabilized at 43 billion CFA francs; the net margin increased from 39% in 2017 at 22% in 2019 and the cash flow from 6 billion to 19 billion CFA francs. And cash flow has increased from less than 14 billion to more than 13 billion CFA francs