WFW with Great Horn on USD155m development loan in Djibouti 

Watson Farley & Williams (WFW) provided legal advice to Great Horn Investment Holding (GHIH) on a USD155 million facility for the development of projects in Djibouti’s Damerjog Industrial Development Free Trade Zone.  

The facility, led by The African Export-Import Bank (Afreximbank) and Banque pour le Commerce et L’Industrie Mer Rouge (BCIMR), will support the construction of the Damerjog Oil Jetty, which will provide marine connectivity to the free zone, and a 150,000m³ storage depot/oil tank farm. These projects are crucial for Djibouti’s infrastructure development and its ambition to become a ‘regional transport hub’ by 2035. 

Established in 2016, GHIH, wholly owned by Djibouti Ports and Free Zones Authority, develops Djibouti’s infrastructure and connects the region to global trade routes, including the expansion of ports, improved road and rail links and new airports. 

The cross-office and cross practice WFW team advising GHIH was led by projects partner Alhassane Barry (pictured) and supported by projects associate Youssef J. Fichtali (both Dubai) and finance associates Hugues Hounkpati and Caitlin Jenkins and litigation associate Milan Sikurek (Paris). 

Capital of Africa acted as exclusive Financial Advisor to GHIH on the structuring and arrangement of the financing.