• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

DP World Plans $3 Billion Investment in African Ports by 2029

1 year ago
in Business, Features, highlights, Home, home-news, latest News, Maritime, Trade
1 min read
0 0
0
57
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

DP World Plans $3 Billion 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 chief executive officer and managing director 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.

Eight of the world’s 15 fastest-growing economies will be in Africa this year, according to the International Monetary Fund. That’s luring companies including Dubai-based DP World, despite economic pain from accelerating inflation, depreciating currencies and high borrowing costs in the region.

Africa’s potential should be viewed over the long term, not by short-term macroeconomics, according to Akoojee. “It’s a cycle and it certainly hasn’t impacted our appetite for growth on the continent,” he said. “We’re still investing.”

A booming market for critical minerals including copper from Zambia and the Democratic Republic of Congo are helping drive the need for greater logistics capacity, Akoojee said. “We’ve seen demand increasing over the last few years, largely driven by the whole electrification drive globally and the demand for commodities like cobalt, lithium.”

Port Interest

RelatedPosts

The Global Push for a Just Transition in Energy Jobs

Why the IEA Reinstated Its “Business as Usual” Scenario

GRA Targets Offshore Income in Expanded Tax Compliance Drive

DP World ’s Africa unit has 27,000 workers and covers ports, terminals, logistics and supply chain businesses. It failed in a bid to partner with South Africa’s Transnet SOC Ltd. to develop the biggest container port on the continent, losing to International Container Terminal Services Inc., which is owned by Filipino billionaire Enrique Razon.

That hasn’t deterred the company from looking to continue its expansion on the continent. As South Africa moves forward on the partial privatization of Transnet, “we remain interested in those opportunities,” Akoojee said. DP World is also looking at the port of Lamu in Kenya, where there’s also a privatization process underway.

Source: bloomberg
Via: norvanreports
Tags: DP WorldDP World Plans $3 Billion Investment in African Ports by 2029
No Result
View All Result

Highlights

Gold Boom Drives Rising Costs for Australian Producers

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

Premier League: Spurs Stun Man City at Etihad; Arsenal Dominates Leeds to go Top

CHAN 2024: Senegal, Sudan Complete Semifinal Lineup

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Trending

Features

The Global Push for a Just Transition in Energy Jobs

August 24, 2025

The Global Push for a Just Transition in Energy Jobs For years, energy workers from the fossil...

Why the IEA Reinstated Its “Business as Usual” Scenario

August 24, 2025

GRA Targets Offshore Income in Expanded Tax Compliance Drive

August 24, 2025

Gold Boom Drives Rising Costs for Australian Producers

August 24, 2025

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

August 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.