Ports in Africa can look forward to an investment of US$3 billion over the next three to five years.

Moneyweb reports that Dubai-based logistics company DP World is assessing ports in South Africa and Kenya for possible investment and is already expanding capacity at the Dar-es-Salaam port in Tanzania.

According to Mohammed Akoojee, DP World’s CEO and MD for sub-Saharan Africa, the high costs of the logistics and supply chain in the continent relative to other global markets presents a good investment opportunity.

The need for improved logistics capacity is being driven by the growing market for critical minerals mined in Africa.

‘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,’ says Akoojee.

18 June 2024
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