DP World, Dubai’s ports and logistics operator, is investing up to $35 million to partner with British International Investment (BII), the U.K.’s development finance institution, to build the Democratic Republic of Congo’s (DRC) first deepwater container port, Port of Banana. The project aims to unlock the DRC’s trade potential and boost its economy.
The DRC, Africa’s second-largest country and fourth most populous, currently lacks a deepwater container port, hindering its access to global markets. The Port of Banana will address this challenge, enabling the country to efficiently handle large container vessels and significantly reduce trade costs.
This project builds on BII’s existing partnership with global ports and logistics operator DP World, established in 2021. Moreover, BII’s investment in Port of Banana, like its previous investments in Dakar (Senegal), Sokhna (Egypt), and Berbera (Somaliland), will be a minority stake.
Read more: Container volumes fuel $9.33 billion revenue for DP World in H1 2024
Additionally, the Port of Banana is expected to generate approximately 85,000 jobs and increase trade by $1.12 billion, contributing a 0.65 percent boost to the DRC’s GDP. The port’s development will also include a free zone and multimodal logistics infrastructure, connecting it to major urban centers like Kinshasa, Boma, and Matadi.
The project’s impact extends beyond economic growth. The Port of Banana will create a single maritime window for all containerized goods, ensuring the DRC’s logistical independence and sovereignty over its foreign trade. Furthermore, the port is expected to benefit rural households by creating jobs in agriculture and making essential imported goods more affordable.
The Port of Banana is a significant step towards unlocking the DRC’s economic potential and improving the lives of its people.
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