DP World partners with CDC Group to create Africa investment platform
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), according to the company's release.
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. The transaction is subject to certain final regulatory approvals.
The platform will 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.
DP World has more than 20 years of experience developing and operating ports and infrastructure and providing logistics solutions in Africa and globally. This transaction is aligned with DP World's strategy of partnering with organisations that offer complementary expertise and have a shared vision for enabling trade and driving economic and social development.
CDC is the UK's development finance institution and impact investor with over 70 years of experience successfully supporting the sustainable, long-term growth of business in Africa and South Asia. CDC is owned by the UK Government and has a dual objective to deliver development impact by supporting business growth that lifts people out of poverty and makes a financial return.
About DP World
DP World is the leading provider of worldwide smart end-to-end supply chain logistics, enabling the flow of trade across the globe. DP World delivers services through an interconnected global network of 129 business units in 55 countries across six continents.
