BII commits up to $35m alongside DP World into DRC port

The Port of Banana will be the country’s first deepwater container port.

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British International Investment, the UK’s development finance institution and impact investor, has committed to invest up to $35 million towards the development of the first phase of a new container port in Democratic Republic of Congo (DRC).

The Port of Banana will be the country’s first deepwater container port. By enhancing the DRC’s direct access to international markets, it will unlock the country’s international trading potential for the benefit of millions of its people.

The commitment to the Port of Banana is an extension of the partnership between BII and global ports and logistics operator, DP World, that commenced with the modernisation and expansion of ports in Dakar (Senegal), Sokhna (Egypt) and Berbera (Somaliland) in 2021. As with the other ports in the partnership, BII will be a minority investor in the new port.

With a draft of 17.5m, the Port of Banana will receive large container vessels from around the globe and will become the single gateway for imports and exports of containers in the DRC. These efficiencies are expected to cut the cost of trade in DRC by 12%. Its development will enable the creation of approximately 85,000 jobs and about $1.12bn in additional trade.

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. This investment forms part of BII’s ongoing commitment to investing in key sectors in Africa, with further projects under development in the region.”

Mohammed Akoojee, CEO of sub-Saharan Africa for DP World, said: “We are excited to continue our partnership with British International Investment in developing the Port of Banana. 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."

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