BII invests USD 35M with DP World to build DRC’s first deepwater port

DRC – The UK’s development finance institution, British International Investment (BII), has announced a USD 35 million investment in partnership with global ports and logistics operator, DP World, to construct the Democratic Republic of Congo’s (DRC) first deepwater container port.

This development aims to enhance the country’s access to international markets and support economic growth.

The investment marks an extension of the partnership between BII and DP World, which began in 2021 with the modernization and expansion of ports in Dakar (Senegal), Sokhna (Egypt), and Berbera (Somaliland).

Like the previous projects, BII will hold a minority stake in the new port, which is expected to be a crucial hub for international trade in the DRC.

“The Port of Banana will play a major role in supporting the economic aspirations of millions living in DRC,” said Chris Chijiutomi, Managing Director and Head of Africa for BII.

“This investment forms part of BII’s ongoing commitment to investing in key sectors in Africa, with further projects under development in the region.”

The Port of Banana, with a draft of 17.5 meters, will accommodate large container vessels, making it the primary hub for container imports and exports in the DRC.

The development is projected to reduce trade costs in the country by 12% and is expected to generate approximately 85,000 jobs.

Furthermore, it will contribute around USD 1.12 billion in additional trade and USD 429 million to the DRC’s economic output, which translates to a 0.65% increase in the country’s GDP.

This new port is anticipated to significantly impact the economic welfare of low-income rural households in the DRC by creating job opportunities, particularly in the agriculture sector.

Additionally, the increase in containerized trade will make essential imported goods more affordable in Western DRC.

The project, which is being developed in multiple phases, will eventually connect to a broader network of infrastructure, including a free zone and multimodal logistics facilities.

These connections will link key urban centers like Kinshasa, Boma, and Matadi, benefiting the 578km Banana-Matadi-Kinshasa trade corridor, home to approximately 54 million people.

Mohammed Akoojee, CEO of Sub-Saharan Africa for DP World, emphasized the project’s significance, stating, “This project is a significant step towards enhancing the DRC’s trade infrastructure, unlocking economic potential, and creating jobs. By reducing trade costs and improving access to global markets, we aim to support the DRC’s growth and prosperity.”

The development of the Port of Banana aims to enhance the DRC’s logistical independence and strengthen its sovereignty over foreign trade. As a result, this project is expected to transform the country into a major trading hub on the African continent.

UK Minister for Africa, Ray Collins, echoed these sentiments, noting, “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.”

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