BII teams up with DP World to build Congo's first deepwater container port

The UK's development finance institution, British International Investment (BII), has committed to investing up to $35 million alongside global ports and logistics operator DP World to build the first deepwater container port in the Democratic Republic of Congo (DRC). As announced in an official statement, this deal is an extension of DP World's partnership with BII, which commenced with the modernisation and expansion of ports in Dakar (Senegal), Sokhna (Egypt), and Berbera (Somaliland) in 2021.

The statement also mentioned that, as with the other ports in the partnership, BII will be a minority investor in the new port. The three ports under the original agreement between BII and DP World will improve access to vital goods for around 35 million people, supporting five million jobs and also enabling the creation of 138,000 new ones. The partnership will also enable an additional $51 billion to total trade by 2035. Furthermore, it will reduce logistics costs, generate employment, transform lives, and stimulate economic growth across these markets and the continent.

This investment by BII will play a crucial role as DRC is Africa's second-largest country and the fourth most populous on the continent. As the country's deepwater container port, the Port of Banana will enhance DRC's direct access to international markets and unlock the country's international trading potential for the benefit of millions of its people.

The Port of Banana will have a draft of 17.5m, allowing it to accommodate large container vessels from around the world and serve as the primary hub for container imports and exports in the country. This development is expected to reduce trade costs in the DRC by 12 %. The project will also generate approximately 85,000 jobs and is projected to contribute about $1.12 billion in additional trade and $429 million to the country's economic output, equivalent to a 0.65% increase in the DRC's GDP.

"The port is being developed in multiple phases and its capacity is expected to gradually increase over time," added the official statement. It will be connected to a network of infrastructure, including a free zone and multimodal logistics facilities, linking urban centres such as Kinshasa, Boma, and Matadi. This will benefit the 578km Banana-Matadi-Kinshasa trade corridor, home to approximately 54 million people.

The development of a new port in the country aims to enhance the country's logistical independence and sovereignty over foreign trade. This project is anticipated to have a significant positive impact on the economic welfare of low-income rural households in the DRC by creating employment opportunities, particularly in the agriculture sector. Additionally, the increase in containerised trade is expected to make essential imported goods more affordable and containerised in the Western DRC.

In the official statement, the UK Minister for Africa, Ray Collins, said, "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.”

“Today’s announcement is a brilliant example of the UK-DRC partnership in action, working together to increase trade opportunities and drive sustainable economic growth that creates full and productive employment for many," added Collins.

Chris Chijiutomi, Managing Director and Head of Africa for BII, said: “The development impact case for investing in ports is irrefutable. Africa has a sixth of the world’s population but accounts for just 4% 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’s ongoing commitment to investing in key sectors in Africa, with further projects under development in the region.”

Mohammed Akoojee, CEO of Sub-Saharan Africa for DP World, said, “We 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’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’s growth and prosperity. We look forward to the positive impact this development will have on the region and its people.”