DP World Set to Revolutionize African Ports with $3 Billion Investment

DP World, a leading global ports operator based in Dubai, has unveiled ambitious plans to invest $3 billion over the next three to five years in expanding port infrastructure across Africa, as reported by Bloomberg Television.

Mohammed Akoojee, CEO and Managing Director for sub-Saharan Africa at DP World, highlighted the disproportionately high logistics and supply chain costs in Africa compared to other global markets. He underscored that these investments are driven by a burgeoning demand for critical minerals like copper, primarily sourced from countries such as Zambia and the Democratic Republic of Congo. Akoojee emphasized the importance of viewing Africa's potential through a long-term lens rather than focusing solely on short-term macroeconomic factors.

Currently, DP World is actively expanding its presence, with ongoing projects in Dar es Salaam, Tanzania. Additionally, the company is exploring potential investments in harbours located in South Africa and Kenya.

DP World's operations in Africa encompass a diverse portfolio including ports, terminals, logistics, and supply chain businesses, employing approximately 27,000 people across the continent, according to Bloomberg TV. These strategic investments aim to bolster Africa's infrastructure and enhance its connectivity within the global trade network.

Source: Seban Scaria / Zawya