Tanger Med Port Authority (TMPA), a subsidiary of the Tanger Med Special Agency, has once again proven its pivotal role in global logistics and trade. With remarkable achievements in the third quarter of 2024, the port continues to showcase resilience and innovation in a challenging economic climate. A 6% increase in revenue compared to the same period in 2023 underscores the port’s dynamic operations and growth trajectory.
Record-breaking performance
By the end of September 2024, TMPA had handled an astounding 103 million tons of cargo—a 12.5% jump from the previous year. In the third quarter alone, 35 million tons moved through its facilities. Passenger traffic also surged, with 1,734,160 travelers and 457,624 vehicles passing through the port during the Marhaba 2024 operation, solidifying Tanger Med’s status as an essential logistics hub connecting continents.
Strategic investments and debt reduction
TMPA has funneled 5.5 billion dirhams into infrastructure upgrades, diverse network improvements, and cutting-edge IT systems. These investments are part of a broader plan to modernize and secure port facilities, ensuring the complex stays ahead in an increasingly competitive market. Meanwhile, financial prudence is evident, with the port’s debt decreasing slightly by 0.4% since the end of 2023, now totaling 9.5 billion dirhams, including 4.6 billion dirhams in bond loans.
Sustainability and innovation: Leading by example
TMPA’s commitment to sustainability and innovation shines through initiatives like the 6th Tangier Logistics Days, which addressed pressing geopolitical and environmental challenges in supply chains. The port is also embracing digital transformation. A landmark agreement with Banque Populaire has introduced Morocco’s first Blockchain Payment Gateway in the port sector. Another partnership with the National Interprofessional Office for Cereals aims to digitize import/export processes, streamlining operations and boosting efficiency.
A global leader in connectivity and technology
Tanger Med is more than a port—it’s a symbol of Morocco’s rising prominence in the global economy. Its relentless focus on connectivity, sustainability, and technological advancement cements its position as a leader in the world of logistics. As TMPA looks to the future, its strategic vision ensures it remains a cornerstone of international trade and a beacon of innovation.
