The development of the Democratic Republic of Congo’s (DRC) first deep-sea container port represents a major step forward in Africa’s ports sector. British International Investment’s (BII) $35 million investment alongside DP World to build the Banana Port opens up new economic opportunities for the country.
Located on the Atlantic coast, the Banana Port will play a crucial role in becoming the DRC’s main gateway for containerized imports and exports. With a depth to accommodate the largest container ships in circulation, the port will provide the DRC with logistical independence and strengthen its sovereignty over its foreign trade.
The economic benefits of this project are estimated at $1.12 billion in additional trade per year, which will help increase the country’s annual economic output by $429 million, representing an increase of 0.65% of GDP. In addition, the creation of 85,000 jobs linked to this project will boost the job market in the DRC.
This port development is part of a broader approach aimed at modernizing and expanding port infrastructure in Africa. Indeed, after similar projects carried out in Senegal, Egypt and Somaliland, this investment demonstrates BII and DP World’s commitment to contributing to the continent’s economic growth.
The Banana-Matadi-Kinshasa trade corridor, which stretches over 578 km, is also expected to benefit from this economic boom. By connecting these different cities, the new port will promote trade and stimulate economic activity within the region, thus benefiting millions of people living in this area.
Chris Chijiutomi, Managing Director and Head of Africa at BII, highlighted the strategic importance of this investment in supporting the economic aspirations of the Congolese population. For his part, Mohammed Akoojee, CEO Sub-Saharan Africa for DP World, expressed his confidence in the positive impact that this project will have on the economy and employment in the DRC.
In conclusion, the development of the Banana port in the DRC opens new economic prospects for the country and the region. By strengthening port infrastructure and promoting trade, this project is a significant step towards economic growth and sustainable development in Africa.