DP world plans $3bn investment in African ports by 2029

DP World plans to spend $3-billion over the next three to five years on new port infrastructure in Africa to meet long-term growth that includes surging demand for critical mineral exports. “The cost of logistics and supply chain across Africa is very high relative to other global markets,” which presents a good opportunity, Mohammed Akoojee, DP World’s CEO and MD for sub-Saharan Africa, said in an interview on Bloomberg Television. The port operator is expanding in Dar es Salaam in Tanzania and has recently assessed harbors in South Africa and Kenya for potential investment.