{"id":15518,"date":"2024-08-19T12:17:36","date_gmt":"2024-08-19T11:17:36","guid":{"rendered":"https:\/\/maritimafrica.com\/en\/?p=15518"},"modified":"2024-08-19T12:24:50","modified_gmt":"2024-08-19T11:24:50","slug":"british-international-investment-commits-up-to-35-million-alongside-dp-world-into-the-democratic-republic-of-the-congos-first-deepwater-container-port","status":"publish","type":"post","link":"https:\/\/maritimafrica.com\/en\/british-international-investment-commits-up-to-35-million-alongside-dp-world-into-the-democratic-republic-of-the-congos-first-deepwater-container-port\/","title":{"rendered":"British International Investment commits up to $35 million alongside DP World into the Democratic Republic of the Congo\u2019s first deepwater container port"},"content":{"rendered":"<p><a href=\"https:\/\/maritimafrica.com\/en\/wp-content\/uploads\/2024\/08\/britishinternationalinvestmentcommitsupto35millionalongsidedpworld.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-15519 size-full\" src=\"https:\/\/maritimafrica.com\/en\/wp-content\/uploads\/2024\/08\/britishinternationalinvestmentcommitsupto35millionalongsidedpworld.jpg\" alt=\"\" width=\"602\" height=\"338\" srcset=\"https:\/\/maritimafrica.com\/en\/wp-content\/uploads\/2024\/08\/britishinternationalinvestmentcommitsupto35millionalongsidedpworld.jpg 602w, https:\/\/maritimafrica.com\/en\/wp-content\/uploads\/2024\/08\/britishinternationalinvestmentcommitsupto35millionalongsidedpworld-300x168.jpg 300w\" sizes=\"auto, (max-width: 602px) 100vw, 602px\" \/><\/a><\/p>\n<ul>\n<li style=\"text-align: justify;\"><strong><em>Deal is an extension of the partnership that commenced with the modernisation and expansion of ports in Senegal, Egypt and Somaliland.<\/em><\/strong><\/li>\n<li style=\"text-align: justify;\"><strong><em>The new port development is expected to enable the creation of approximately 85,000 jobs and c. $1.12bn in additional trade and $429m in increased economic output annually.<\/em><\/strong><\/li>\n<li style=\"text-align: justify;\"><strong><em>The new port will serve as the single maritime gateway for all containerised imports and exports in the DRC, providing the country with logistical independence and ensuring sovereignty over its foreign trade.<\/em><\/strong><\/li>\n<\/ul>\n<p style=\"text-align: justify;\">British International Investment, the UK\u2019s development finance institution and impact investor, has committed to invest up to $35 million towards the development of the first phase of a new container port in DRC.<\/p>\n<p style=\"text-align: justify;\">The DRC is Africa\u2019s second largest country and the fourth most populous on the continent. The Port of Banana will be the country\u2019s first deepwater container port. By enhancing the DRC\u2019s direct access to international markets, it will unlock the country\u2019s international trading potential for the benefit of millions of its people.<\/p>\n<p style=\"text-align: justify;\">The commitment to the Port of Banana is an extension of the partnership between BII and global ports and logistics operator, DP World, that commenced with the modernisation and expansion of ports in <a href=\"https:\/\/email.comm.dpworld.com\/c\/eJxczztuxCAUheHVXDojuOCAC4o0bGPEcwaNMRYmsbL7yC5nA-f8XzRRRfVFkuEKJZuVVgtJ1ZX1UaIBRKUlF4BIXgaFQvSZLei815xn7ZPTC2coFzVnSYpBhpJpvjA9q1lTJYXIXog5eZ1EyCBZaLXSuJ-tr5GGVslqXmPsB4hvQAtoz_OkvhQaGv15A9q0AdpjtP4HaPfWx9TyFN3bdUBLuqmul1Gqy70EB5I9r_h7-UhbLNvzEVt1Zbswn-eXa5ibO91Q8mvwPwAA__-AB1Pj\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/email.comm.dpworld.com\/c\/eJxczztuxCAUheHVXDojuOCAC4o0bGPEcwaNMRYmsbL7yC5nA-f8XzRRRfVFkuEKJZuVVgtJ1ZX1UaIBRKUlF4BIXgaFQvSZLei815xn7ZPTC2coFzVnSYpBhpJpvjA9q1lTJYXIXog5eZ1EyCBZaLXSuJ-tr5GGVslqXmPsB4hvQAtoz_OkvhQaGv15A9q0AdpjtP4HaPfWx9TyFN3bdUBLuqmul1Gqy70EB5I9r_h7-UhbLNvzEVt1Zbswn-eXa5ibO91Q8mvwPwAA__-AB1Pj&amp;source=gmail&amp;ust=1724151836539000&amp;usg=AOvVaw0yNQdcpHDQXMIp2s6JMdkf\">Dakar (Senegal)<\/a>,\u00a0<a href=\"https:\/\/email.comm.dpworld.com\/c\/eJxcz0FyhCAQheHTNLuhsEGBBYtsuMYU2jBDjYiFJFZun9JlLvDe_5EjTXpi0Q0alRi10ZbFEvL6zOQAURs1SEBkb5fUFEOcZkOToIRxtHawMkVrFKWkJpYdClTCDFaYUY-GayVlmqUc42yiXBIosdRSOO1nbSvxpRa2unfv-wHyC9AD-vM8-ZwzXyr__gD6uAH6o9f2C-j32vqjpsdRP-8tAHrWXAkt91xCankJoMTrqr-nj7hR3l5PqiXk7dL8f79g3d3exy1lPw7_AgAA__-nqVVJ\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/email.comm.dpworld.com\/c\/eJxcz0FyhCAQheHTNLuhsEGBBYtsuMYU2jBDjYiFJFZun9JlLvDe_5EjTXpi0Q0alRi10ZbFEvL6zOQAURs1SEBkb5fUFEOcZkOToIRxtHawMkVrFKWkJpYdClTCDFaYUY-GayVlmqUc42yiXBIosdRSOO1nbSvxpRa2unfv-wHyC9AD-vM8-ZwzXyr__gD6uAH6o9f2C-j32vqjpsdRP-8tAHrWXAkt91xCankJoMTrqr-nj7hR3l5PqiXk7dL8f79g3d3exy1lPw7_AgAA__-nqVVJ&amp;source=gmail&amp;ust=1724151836539000&amp;usg=AOvVaw3sMVDK-zBcfD3-xGfNz2lq\">Sokhna (Egypt)<\/a>\u00a0and\u00a0<a href=\"https:\/\/email.comm.dpworld.com\/c\/eJxcz0GOrCAUheHVXGZF8IJCDRi8CduoABeqyBMxSLfp3Xd02Bs45__Ikia9sGQnjUrM2ugnS9WX9VXIAqI2apKAyD5WJCOCR7moHGfKk8cpGFSEi0lKIbFiUaASZnoKM-vZcK2kzEHKOQWTZMygRGy1ctrP1lfisVW22s8Y-wHyH6ADdOd58lAKj41__Qd0aQN0x2j9B9DtrY9Hy4-QekjdAzrWbfW9jFJ97iV6UOJ95d_bR9qobO8XterLdnH-3l-yYW_w46ayb4u_AQAA__99kVUH\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/email.comm.dpworld.com\/c\/eJxcz0GOrCAUheHVXGZF8IJCDRi8CduoABeqyBMxSLfp3Xd02Bs45__Ikia9sGQnjUrM2ugnS9WX9VXIAqI2apKAyD5WJCOCR7moHGfKk8cpGFSEi0lKIbFiUaASZnoKM-vZcK2kzEHKOQWTZMygRGy1ctrP1lfisVW22s8Y-wHyH6ADdOd58lAKj41__Qd0aQN0x2j9B9DtrY9Hy4-QekjdAzrWbfW9jFJ97iV6UOJ95d_bR9qobO8XterLdnH-3l-yYW_w46ayb4u_AQAA__99kVUH&amp;source=gmail&amp;ust=1724151836539000&amp;usg=AOvVaw0r9lmxn08Lxq2Y4iI_cFmh\">Berbera (Somaliland)<\/a> in 2021. As with the other ports in the partnership, BII will be a minority investor in the new port.<\/p>\n<p style=\"text-align: justify;\">The three ports under the original partnership agreement between BII and DP World will improve access to vital goods for approximately 35 million people, support 5 million jobs (enabling the creation of 138,000 new ones) and enable an additional $51 billion to total trade by 2035. Additionally, they will reduce further logistics costs, generate employment, transform lives, and stimulate economic growth across these markets and the continent.<\/p>\n<p style=\"text-align: justify;\"><strong>Unlocking trading potential is a key driver of economic growth in African economies<\/strong><\/p>\n<p style=\"text-align: justify;\">With a draft of 17.5m, the Port of Banana will receive large container vessels from around the globe and will become the single gateway for imports and exports of containers in the DRC. These efficiencies are expected to cut the cost of trade in DRC by 12 per cent. Its development will enable the creation of approximately 85,000 jobs and c. $1.12bn in additional trade and $429m in increased economic outlook \u2013 equivalent to a 0.65 per cent increase in the DRC\u2019s GDP, according to an evaluation commissioned by BII.<\/p>\n<p style=\"text-align: justify;\">The port is being developed in multiple phases and its capacity is expected to gradually increase over time. It will be connected to a network of additional infrastructure, including a free zone and multimodal logistics infrastructure to the country\u2019s largest urban centres, including Kinshasa and its almost 17 million inhabitants, via the cities of Boma and Matadi. The 578km Banana-Matadi-Kinshasa trade corridor is home to about 54 million people, who will benefit economically from the new port.<\/p>\n<p style=\"text-align: justify;\">As the single maritime window for all containerised goods transported by sea in the DRC, the port will provide the country with logistical independence and ensure sovereignty over its foreign trade.<\/p>\n<p style=\"text-align: justify;\">The Port of Banana will greatly improve economic welfare for the lowest-earning rural households in the DRC. About one-third of the new jobs supported by the trade through the port are expected to be in agriculture, benefiting thousands of farmers and sector workers.<\/p>\n<p style=\"text-align: justify;\">Increased containerised trade in Western DRC will also make essential imported goods like clothing, textiles, food, pharmaceuticals, and consumer products cheaper and more accessible.<\/p>\n<blockquote>\n<p style=\"text-align: justify;\"><strong>Chris Chijiutomi, Managing Director and Head of Africa for BII<\/strong>, said: \u201cThe development impact case for investing in ports is irrefutable. Africa has a sixth of the world\u2019s population, but accounts for just 4 per cent of global containerised shipping volumes. Ports are vital to the long-term prosperity and wellbeing of countless people across the continent. The Port of Banana will play a major role in supporting the economic aspirations of millions living in DRC. This investment forms part of BII\u2019s ongoing commitment to investing in key sectors in Africa, with further projects under development in the region.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong>Mohammed Akoojee, CEO of Sub-Saharan Africa for DP World<\/strong>, said: \u201cWe are excited to continue our partnership with British International Investment in developing the Port of Banana. This project is a significant step towards enhancing the DRC&#8217;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\u2019s growth and prosperity. We look forward to the positive impact this development will have on the region and its people.&#8221;<\/p>\n<\/blockquote>\n<p>Source : DP World<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Deal is an extension of the partnership that commenced with<\/p>\n","protected":false},"author":1,"featured_media":15519,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,1941,442,1921],"tags":[1493,1940,1760,31,32,1485,1297,3051,45],"class_list":["post-15518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-democratic-republic-of-the-congo","category-news","category-ports-harbours","tag-africa-en","tag-democratic-republic-of-the-congo","tag-dp-world","tag-maritimafrica","tag-maritime","tag-maritime-in-africa","tag-maritime-industry-en","tag-port-of-banana","tag-shipping-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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