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Britain Invests $35 Million in the DRC's First Modern Seaport.

Britain Invests $35 Million in the DRC's First Modern Seaport.
blog image
Port Terminal Services

Britain Invests $35 Million in the DRC's First Modern Seaport.

British International Investment (BII), the UK’s development finance institution, is making a significant $35 million investment in DP World’s new container port project in the Democratic Republic of Congo (DRC). This investment is poised to bring modern logistics to one of the world’s least-developed nations and is expected to create approximately 85,000 jobs, generating around $430 million in new economic output. This is particularly impactful for the DRC, which has a GDP of $65 billion. DP World is constructing the DRC’s first deep-sea port in Banana, a small settlement situated near the mouth of the Congo River. The DRC’s coastline is only about 25 miles long, and Banana’s sheltered harbour is currently the only safe harbour in the country. The new project will upgrade the existing small terminal for fishing vessels into a major logistics hub. The plan includes building a 600-meter quay with a depth of 18 meters, enabling it to accommodate the largest container ships in service today. UK Minister for Africa, Lord Collins of Highbury, emphasized that this investment from BII will significantly enhance the DRC’s economy by establishing it as a major trading hub on the continent. It will also provide substantial benefits to local sectors, including infrastructure, logistics, and green energy. The port will operate under a concession agreement that includes a "single window gateway" process for all containerized freight entering the DRC by sea. This system will feature a single electronic interface for customs clearance, which is intended to promote transparency and procedural standardization. Given that the DRC ranks 162nd out of 180 on the Corruption Perceptions Index, this streamlined process is expected to foster greater efficiency and reduce corruption. The single-window system will also help speed up cargo movement and is projected to cut trade costs in the DRC by 12 percent, according to BII.


04 Sep 24
blog image
Port Terminal Services

Britain Invests $35 Million in the DRC's First Modern Seaport.

British International Investment (BII), the UK’s development finance institution, is making a significant $35 million investment in DP World’s new container port project in the Democratic Republic of Congo (DRC). This investment is poised to bring modern logistics to one of the world’s least-developed nations and is expected to create approximately 85,000 jobs, generating around $430 million in new economic output. This is particularly impactful for the DRC, which has a GDP of $65 billion. DP World is constructing the DRC’s first deep-sea port in Banana, a small settlement situated near the mouth of the Congo River. The DRC’s coastline is only about 25 miles long, and Banana’s sheltered harbour is currently the only safe harbour in the country. The new project will upgrade the existing small terminal for fishing vessels into a major logistics hub. The plan includes building a 600-meter quay with a depth of 18 meters, enabling it to accommodate the largest container ships in service today. UK Minister for Africa, Lord Collins of Highbury, emphasized that this investment from BII will significantly enhance the DRC’s economy by establishing it as a major trading hub on the continent. It will also provide substantial benefits to local sectors, including infrastructure, logistics, and green energy. The port will operate under a concession agreement that includes a "single window gateway" process for all containerized freight entering the DRC by sea. This system will feature a single electronic interface for customs clearance, which is intended to promote transparency and procedural standardization. Given that the DRC ranks 162nd out of 180 on the Corruption Perceptions Index, this streamlined process is expected to foster greater efficiency and reduce corruption. The single-window system will also help speed up cargo movement and is projected to cut trade costs in the DRC by 12 percent, according to BII.


04 Sep 24
blog image
Port Terminal Services

Britain Invests $35 Million in the DRC's First Modern Seaport.

British International Investment (BII), the UK’s development finance institution, is making a significant $35 million investment in DP World’s new container port project in the Democratic Republic of Congo (DRC). This investment is poised to bring modern logistics to one of the world’s least-developed nations and is expected to create approximately 85,000 jobs, generating around $430 million in new economic output. This is particularly impactful for the DRC, which has a GDP of $65 billion. DP World is constructing the DRC’s first deep-sea port in Banana, a small settlement situated near the mouth of the Congo River. The DRC’s coastline is only about 25 miles long, and Banana’s sheltered harbour is currently the only safe harbour in the country. The new project will upgrade the existing small terminal for fishing vessels into a major logistics hub. The plan includes building a 600-meter quay with a depth of 18 meters, enabling it to accommodate the largest container ships in service today. UK Minister for Africa, Lord Collins of Highbury, emphasized that this investment from BII will significantly enhance the DRC’s economy by establishing it as a major trading hub on the continent. It will also provide substantial benefits to local sectors, including infrastructure, logistics, and green energy. The port will operate under a concession agreement that includes a "single window gateway" process for all containerized freight entering the DRC by sea. This system will feature a single electronic interface for customs clearance, which is intended to promote transparency and procedural standardization. Given that the DRC ranks 162nd out of 180 on the Corruption Perceptions Index, this streamlined process is expected to foster greater efficiency and reduce corruption. The single-window system will also help speed up cargo movement and is projected to cut trade costs in the DRC by 12 percent, according to BII.


04 Sep 24