Four years old, the dispute between the Togolese State and Togo Terminal (a subsidiary of Bolloré Africa Logistics), which was putting a strain on the atmosphere on the quays of the port of Lomé has come to an end. The Togolese state has increased its stake in Togo Terminal from 5% to 30%.
The government of Togo announced at the end of the Council of Ministers on 1st March that it had increased its shares in Togo Terminal, the subsidiary of the French operator Bolloré, sold to the Italian-Swiss shipowner MSC. This was the result of negotiations following the departure of the Bolloré group from the Port of Lomé. The news thus puts an end to a dispute resolved amicably after four years of legal proceedings between the Togolese government and Togo Terminal.
Thus, Togo’s economic rights under the convention are upgraded and the country acquires an additional 25% of the shares, bringing the government’s stake to 30%. As the Autonomous Port of Lomé (PAL) had previously acquired the 5% share. “The council welcomed this win-win agreement which marks the maturity of the partnership between the two actors,” the government said.
In addition, the country is consolidating its hold by appointing two additional board members in the governance of the structure. The authorities hope that this agreement will pave the way for new investments and the reception of other partners in the development of the PAL, underlines a press release published after the council of ministers.
As a reminder, the Bolloré group has sold its logistics activities in Africa to the Italian-Swiss shipowner MSC. Togo Terminal has been operating within the port infrastructure since 2001, through a concession, which gives it access to an important part of the port handling activities in Togo.
