“In CDC, we have found a long-term partner with whom we share a same goal of investing in Africa’s long-term infrastructure, which is vital to unlocking the continent’s commerce potential,” In a statement, DP World Chairman Sultan Ahmed bin Saeed remarked.
DP World and CDC have announced that investments in ports, container depots, business parks, and other logistics infrastructure will be undertaken through a newly formed platform.
DP World said it aimed to invest $1 billion in the platform over the next five years, and it had already given minority holdings in three African ports to the platform.
The ports are in Egypt’s Sokhna, Senegal’s Dakar, and Somaliland’s breakaway region of Berbera.
The CDC of the United Kingdom has pledged to invest 320 million dollars on the platform initially, with an extra 400 million over the next few years.