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DP World to build Congo’s first deep-sea container port: The British government’s development finance arm British International Investment (BII) is investing some USD 35 mn for the first phase of DP World’s deep-sea container port in Democratic Republic of Congo’s, according to a press release by BII yesterday. BII will be a minority investor in the port.
This has been in the works: DP World inked a collaboration agreement with the Congolese government in December 2021 to develop the Banana Port, which is set to boost the second-largest African country’s access to international markets and global supply chains. The port — the construction on which kicked off in 2022 — is expected to cut the cost of trade in Congo by 12% and create up to 85k jobs. The project also looks to line up c. USD 1.12 bn in additional trade and USD 429 mn in increased economic output annually.
What they said: “This investment from BII will help transform DRC’s economy, establishing the country as a major trading hub on the continent, and providing a significant boost to local sectors from infrastructure, logistics and green energy,” UK Minister for Africa Lord Collins of Highbury was quoted as saying in the BII statement.
An expanding partnership: This agreement is the latest joint effort between BII and DP World, who have worked to modernize and expand ports in Dakar, Senegal, Sokhna, Egypt, and Berbera, Somaliland.
All under one big ambitious plan by DP World for Africa: DP World said earlier this year that it plans to shell out USD 3 bn on new port infrastructure in Africa over the next three to five years. The logistics giant is considering investments in the partial privatization of South African rail, port, and pipeline company Transnet, and the port of Lamu in Kenya, where there is also a privatization process underway. DP World broke ground on a new 18k ton edible oil terminal at Berbera Port last year, which will allow Berbera to service 16 meter draught ships and handle shipments of bulk edible oil.
