In a landmark collaboration following two years of negotiations and reciprocal visits, Türkiye’s leading Albayrak Group has secured a significant concession in Equatorial Guinea. On November 13, during a ceremony held in the nation’s capital, Albayrak Group assumed operational rights for Malabo and Bata Ports, marking another major step in its growing African investments.
A Strategic Expansion of African Operations
Albayrak Group, one of Türkiye’s most established companies, first entered the African market in 2014 by securing the operating rights for Mogadishu Port in Somalia. Since then, the group has successfully expanded its portfolio with ventures in Guinea’s Conakry Port, Gambia’s Banjul Port, and the traditional sections of Pointe-Noire Port in the Republic of Congo.
These successes have not only solidified Albayrak Group’s reputation as a trusted partner in Africa but also attracted interest from other African nations. With the addition of Equatorial Guinea, the group now operates in eight countries across the continent, further cementing its position as a leader in infrastructure and logistics.
25-Year Concession for Malabo and Bata Ports
The concession agreement grants Albayrak Group 25 years to operate, modernize, and develop Malabo and Bata Ports, pivotal gateways for Equatorial Guinea’s trade. Albayrak emerged victorious in a competitive international tender, underscoring its capabilities and commitment to excellence.
At the signing ceremony, Albayrak Group was represented by Chairman Ahmet Albayrak, Vice Chairman Nurettin Canikli, Board Member Hamza Albayrak, and General Manager of Albayrak Construction Yunus Yılmaz. Türkiye’s Ambassador to Equatorial Guinea, Ahmet Ergin, was also in attendance. Representing Equatorial Guinea were Prime Minister Manuel Osa Nsue Nsua, Minister of Transport Honorato Evita Oma, and Minister of Finance Ivan Bacale Ebe Molina.
A History of Success and a Vision for the Future
Since its initial venture in Mogadishu, Albayrak Group has expanded beyond port operations into diverse sectors across Africa. The company has played a transformative role in urban transportation, waste management, airport renovation, and textile industries in countries such as Guinea, Congo, Morocco, Libya, and Gambia.
With the addition of Equatorial Guinea’s ports to its portfolio, Albayrak Group is poised to further enhance its contributions to Africa’s economic development. Notably, the group has plans to commence operations at Sanyang Port in Gambia in 2024 under a 30-year concession.
A Commitment to Modernization
This latest agreement reflects Albayrak Group’s strategic commitment to modernizing infrastructure and fostering sustainable growth in Africa. By leveraging its expertise and experience, Albayrak aims to elevate the efficiency and capacity of Malabo and Bata Ports, reinforcing their roles as vital hubs for regional and international trade.
Equatorial Guinea represents not just another milestone in Albayrak Group’s African journey but also a testament to Türkiye’s growing influence in global markets. As the group continues to innovate and expand, its ventures promise to leave a lasting impact on the continent.
