DP World plans $3 billion investment in Africa

The company is expanding in Tanzania and has assessed harbours in South Africa, according to Bloomberg TV

Dubai-based global ports operator DP World plans to invest $3 billion in the next three to five years in building new port infrastructure across Africa, Bloomberg Television reported.

The logistics and supply chain cost across Africa is very high relative to other global markets, DP World’s CEO and Managing Director for sub-Saharan Africa Mohammed Akoojee said.

A booming market for critical minerals, including copper from Zambia and the Democratic Republic of Congo, is driving the need for greater logistics capacity, he told Bloomberg Television.

Akoojee emphasized that Africa’s potential should be evaluated with a long-term perspective rather than short-term macroeconomics.

The Dubai-based company is expanding in Dar es Salaam in Tanzania and has assessed harbours in South Africa and Kenya for potential investment.

DP World’s Africa portfolio includes ports, terminals, logistics and supply chain businesses. It employs 27,000 people across the continent, Bloomberg TV reported.

Source: zawya

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button