BII invests in DRC's deepwater container port with DP World

The UK’s development finance institution BII has committed up to $35m to the first phase of a new container terminal in the Democratic Republic of the Congo (DRC) alongside DP World.

The latest agreement extends a partnership between the companies at the ports of Dakar, Sokhna, and Berera in Senegal, Egypt, and Somaliland, respectively. BII is a minority investor in the three ports, and will become a minority investor in Port of Banana.

DP World signed a collaboration agreement with the DRC Government in 2021 to develop a port at Banana, targeting a 600 m quay and annual capacity of 450,000 teu. The first stone was laid at a ceremony in 2022, when work was scheduled to finish in 2025.

The partners said the port will have a draft of 17.5 m to accommodate large container ships and will be developed in multiple phases alongside connections to other additional infrastructure.

DRC’s current main seaport, Matadi, has a draft of around 8.2m and is around 93 miles upstream from the mouth of the Congo. Despite being the second largest country in Africa and the continent's fourth-most populous, DRC has just 37 km of coastline on Africa’s western shore through a narrow corridor rougghly following the Congo River, a section of coast sandwiched between the Republic of the Congo and Angola.

Related:US court rules in DP World’s favour over Djibouti legal battle

The vision is for Banana to become a gateway to international markets for DRC, promoting its logistical independence and sovereignty over foreign trade, said BII.

Mohammed Akoojee, CEO of Sub-Saharan Africa for DP World, said: “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."

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.”