The Port of Walvis Bay in Namibia is poised to make a significant leap in its operations as its container handling will transition to private management by Terminal Investment Limited (TiL).
Originally slated for the second quarter of 2023, the much-anticipated concession will now officially begin on October 1, 2024, following the finalization of a joint venture between Namport and TiL, known as Terminal Investment Namibia (TiN).
The privatization of Walvis Bay’s container operations is driven by the need for private investment to enhance infrastructure, improve operational efficiency, and increase cargo volumes.
Modernizing the port’s channels and upgrading equipment with advanced technology are key steps to making the port more competitive and capable of handling larger vessels.
While cargo growth at the port has been slower than expected, industry experts believe that privatization and infrastructure improvements will spur new activity.
TiN is expected to benefit from the acquisition of Bolloré Africa Logistics by MSC and the establishment of Africa Global Logistics, positioning the port for greater market competitiveness.
The concession agreement with TiN is set to strengthen Namibia’s role as a crucial logistics hub in Southern Africa.
Increased shipping connectivity, vessel traffic, and container handling capabilities will boost cargo volumes and improve operational efficiency at the port.
This move follows the privatization of container operations at Angola’s Port of Lobito, which has drawn industrial interest due to its strategic location on the Lobito Corridor, offering a shorter transport route to the Central African Copperbelt.
In response to this regional competition, the Walvis Bay Corridor Group has called for the development of a new North-West Corridor through Namibia. However, road infrastructure supporting this route faces delays.
The partnership between Namport and TiL marks a major milestone for the Port of Walvis Bay, leveraging private expertise and capital to enhance the port’s competitiveness and contribute to Namibia’s economic growth.
