Africa’s maritime sector is central to its economic success; more than 80% of the continent’s trade by volume flows through its ports. For years, though, congestion at key ports held back the pace of economic development.
While Africa’s ports offer huge potential, the infrastructure of many has been in critical need of investment. Three ports on the west coast of the continent, however, are flourishing under the control of Arise Ports & Logistics (Arise P&L), which is working in partnership with governments to modernise port infrastructure and associated logistics in order to boost Africa’s economic transformation, import-export capacity and competitiveness.
‘If I was to make an impact, I had to really understand the operations of the business’
Arise P&L operates two ports in Gabon – the New Owendo International Port for commercial cargo and the Owendo Mineral Port – and one in Côte d’Ivoire, the multipurpose industrial terminal at San Pedro. All are vital to meet growing export capacity from landlocked countries in Western Africa.
Success story
Heading both operations and finance at Arise P&L is Ebrima Sawaneh FCCA, who was last year named ACCA Africa CFO of the year. Born in the Gambia, Sawaneh has worked his way up the career ladder from banking cashier to become one of a rare group of accountants who is entrusted with both the COO and CFO role – an achievement that is all the more impressive given that he had early on been forced to drop out of both school and university due to a lack of funding.
His ACCA qualification, he says, was the key to a career that has taken him across the world. ‘When I first started at the bank, I quickly realised that all the people at senior level were ACCA,’ he says. ‘Then, once I qualified, it opened doors.’
CV
2022
COO and CFO, Arise Ports & Logistics
2020
CFO, Arise Ports & Logistics
2020
Vice president, financial control and budgeting, Africa Finance Corporation
2011
Senior associate – finance, Africa Finance Corporation
2007
Deputy country CFO, Ecobank Gambia
2004
Team leader and senior transaction officer, Guaranty Trust Bank, Gambia
Sawaneh moved to Nigeria to work for the Africa Finance Corporation, a multilateral institution established in 2007 to address Africa’s infrastructure challenges. In February 2020 he was put forward for the role of CFO at the newly restructured Arise P&L, one of three independent verticals of Arise Group, an infrastructure investment group set up by Indian chartered accountant Gagan Gupta.
Learning curve
At that point, Sawaneh had spent almost 16 years in the banking and finance sector. Moving to ports and logistics was a steep learning curve. As well as picking up the necessary technical knowledge, such as relevant KPIs, he was determined to learn on the ground from people working throughout the business. ‘I spent time with the port operators and drivers, trying to understand their movements and planning. I felt that if I was to make an impact as CFO, I had to really understand the operations of the business.’
‘We try not to create headcount at group level, and keep as much local as possible’
His determination to learn as much as possible about the operations of the port worked in his favour. ‘That was one of the reasons that led to me becoming COO after two years in the business,’ he recalls. ‘The CEO told the board that he had seen me building an interest in the business beyond finance and that if they agreed, he wanted me to become COO as well.’
Sawaneh is now based in Dubai, travelling frequently between Côte d’Ivoire, Gabon and the head office in the UK. ‘We localise the finance operations at port level; each port has its own local treasury officer, for example, a local reporting manager and accounts people, while I deal with governance requirements and anything to do with capital raising in London,’ he says. ‘That’s intentional; we try not to create headcount at group level, and keep as much local as possible.’
Arise P&L in numbers
1,353
Number of employees
€1.01bn
Investments made to date
€180m
2024 revenue
98.8ha
Total port infrastructure
The operations side of his responsibilities inevitably takes up a lot of his time. ‘It’s very dynamic; you can wake up one morning and think your day is planned, and then a request comes in from the government for information, or there is an issue with a vessel.’
Geopolitical angle
Geopolitical risk is a constant threat, not least because West and Central Africa has seen eight successful coups since 2020. Sawaneh says one of his most challenging times to date was the aftermath of the coup in Gabon in 2023, which happened shortly after a disputed election. ‘You have to assure lenders that the business is carrying on as usual,’ he says. ‘It took a lot of engaging with the new government, our board and shareholders.’
‘For every person you see at the top, there is always a story’
The five-year plan is to expand the capacity of all three ports. For Côte d’Ivoire, this will require shareholder and government approval for a second jetty. The two ports in Gabon, by contrast, have capacity to carry more volume without further expansion to the infrastructure. ‘The challenge in Gabon is finding ways to expand organically and improve operational efficiency, either by investing in new equipment or by providing training for employees in certain areas that could help to improve productivity,’ Sawaneh says.
In the little spare time he has, he is determined to give back to his community and to help young people who want to pursue a career in finance or accountancy. In 2022, he was conferred with the honour of Knight of the Order of Côte d’Ivoire by the country’s prime minister, for services to the nation. He is also president and co-founder of the Next Generation Foundation, which supports young people in rural Gambia through education, scholarships and the purchase of materials, and set up the Finance Leadership Forum, a digital learning and networking platform where young people can learn from experienced accountants.
‘For every person you see at the top, there is always a story,’ he says. ‘When I was at high school I couldn’t afford to buy food, but still I took my exams. Life is rarely just a straight line; everyone has their own personal zigzag.’
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