DP World finds a partner in UK’s CDC Group to fund African logistics
DP World has announced the creation of an investment platform in partnership with the UK's development finance institution and impact investor CDC Group (CDC) to invest in origin and destination ports, inland container depots, economic zones and other logistics across Africa to increase trade, create new job opportunities and broaden access to essential goods.
It will initially be seeded with minority stakes in existing DP World assets with significant capacity expansion plans, including Dakar (Senegal), Sokhna (Egypt) and Berbera (Somaliland).
Trade enabled through the ongoing expansions is expected to create an additional 138,000 employment opportunities in the wider economy. By 2035, the ports are expected to support stable employment for around 5 million people indirectly.
The platform covers a long-term investment period. DP World is contributing its stakes in three existing ports initially and expects to invest a further $1 billion through the platform over the next several years. CDC is committing approximately $320 million initially and expects to invest up to a further $400 million over the next several years.
