UK’s BII invests $35m in Congo port project, boosts DP World tie-up

British International Investment (BII), the UK’s development finance institution and impact investor, has pledged up to $35m towards the construction of the first phase of a new container port in the Democratic Republic of Congo (DRC).

The Port of Banana will be the DRC’s inaugural deepwater container port to enhance the country’s access to international markets and unlock significant trade potential.

The DRC, Africa’s second-largest country by land area and fourth-most populous, is poised to benefit from this strategic investment, which is expected to generate approximately 85,000 jobs and boost trade by $1.12bn.

With a draft of 17.5 metres, the port will be capable of receiving large container vessels, ultimately reducing trade costs in the DRC by 12 per cent.

The investment is an extension of BII’s ongoing partnership with global ports and logistics operator DP World, which began with the modernisation and expansion of ports in Dakar (Senegal), Sokhna (Egypt), and Berbera (Somaliland) in 2021.

As with the other ports, BII will take a minority stake in the new port.

The development of the Port of Banana, to be executed in multiple phases, will be supported by a network of infrastructure, including a free zone and multimodal logistics facilities connecting the port to key urban centres like Kinshasa.

The project is expected to contribute an additional $429m to the DRC’s economic output, equivalent to a 0.65 per cent increase in GDP.

UK, BII aims to support DRC’s  profile as a trading hub

UK Minister for Africa, Lord Collins of Highbury, emphasised the transformative impact of the investment on the DRC’s economy, highlighting the port’s role in establishing the country as a major trading hub in Africa. “This investment from BII will help transform DRC’s economy, establishing the country as a major trading hub on the continent, and providing a significant boost to local sectors from infrastructure, logistics, and green energy,” said Lord Collins.

Chris Chijiutomi, MD and head of Africa at BII underscored the importance of port infrastructure in driving Africa’s economic growth. “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’s ongoing commitment to investing in key sectors in Africa, with further projects under development in the region,” said Chijiutomi.

Commenting on the continuing partnership with BII, DP World’s CEO for Sub-Saharan Africa, Mohammed Akoojee said: “This project is a significant step towards enhancing the DRC’s trade infrastructure, unlocking economic potential, and creating jobs.”

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