DON'T MISS : Talking Africa Podcast – Mozambique's insurgency: After Palma, what comes next?

UK’s CDC targets inland infrastructure after DP World $1.7bn ports investment deal

By David Whitehouse
Posted on Thursday, 14 October 2021 18:20

Somaliland Emirates
A cargo ship docked at the Port of Berbera in 2018. (AP Photo/Malak Harb)

British development finance institution CDC Group aims to use its investments in three African ports as a springboard for the development of inland trade corridors, Tenbite Ermias, CDC’s Africa managing director, tells The Africa Report.

This week, CDC announced a partnership with global logistics company DP World that will make initial investments to modernise and expand ports in Dakar, Senegal, Sokhna in Egypt and Berbera in Somaliland.

DP World is contributing its stakes in the three ports and will invest $1bn through the partnership in coming years. CDC is committing an initial $320m with up to $400m to follow. The partnership will make further unspecified ports and logistics investments.