Port operator DP World is investing in the Democratic Republic of Congo together with British International Investment.
A new deep-water container port is set to create 85,000 jobs and significantly increase the Central African country’s trade volume. As DP World announced, British National Investment (BII), the UK’s development finance institution, has committed to investing up to US$35m in the first phase of the construction project. The port in the city of Banana is to become Congo’s first deep-water container port. According to the port operator, it will serve as the “single maritime gateway for all imports and exports of containers in the Democratic Republic of Congo (DRC)”. The aim is to make the country logistically independent and guarantee the sovereignty of its foreign trade.
Port will increase the DR Congo’s GDP
Congo is the second-largest country in Africa in terms of area and the fourth-most populous with around 110 million inhabitants. It has a coastline of 37 km, on which the two port cities of Banana and Muanda are located.
DP World expects that the new port, with a draft of 17.5 metres, will create new jobs and increase Congo’s trade volume by around US$1.12bn. Economic output could increase by US$429m, which would correspond to a 0.65% increase in GDP.
The commitment to the port of Banana is a continuation of the partnership between BII and global port operator DP World. It began in 2021 with the expansion of the ports in Dakar (Senegal), Sokhna (Egypt) and Berbera (Somaliland). As with the other ports, BII will receive a minority stake in the new project.
“The development effect is undeniable”
“The development impact of investing in ports is undeniable,” said Chris Chijiutomi, Managing Director and Head of Africa at BII. “Africa accounts for one-sixth of the world’s population, but only 4% of global container shipping. Ports are critical to the long-term prosperity and well-being of countless people across the continent.” The Port of Banana will play an important role in supporting the economic aspirations of millions of people in the Democratic Republic of Congo.
Mohammed Akoojee, CEO for Sub-Saharan Africa at DP World, emphasised the expected growth of the region. “We are delighted to continue our partnership with British International Investment in the development of the port of Banana,” he said. “This project is an important step towards improving the DRC’s trade infrastructure, unlocking economic potential and creating jobs. By reducing trade costs and improving access to global markets, we aim to promote the growth and prosperity of the Democratic Republic of Congo.”
The port will be developed in several phases and its capacity will be gradually increased over time. It will be connected to a network of additional infrastructure, including a free zone and multimodal logistics infrastructure for the country’s largest urban centres, including Kinshasa, with its nearly 17 million inhabitants, via the cities of Boma and Matadi. The 578 km Banana-Matadi-Kinshasa trade corridor is home to around 54 million people who will benefit economically from the new port.
