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DP World and CDC pledge USD 1.7 billion infrastructure spending in Africa ports deal

Emirati DP World and UK-based CDC join forces to develop ports in Africa and build infrastructure over the next few years. Trade facilitated by the ports will support 5 million jobs across the affected economies and improve access to goods for 35 million people, according to the companies.

Photo: Hamad I Mohammed/Reuters/Ritzau Scanpix

DP World Ltd. and CDC Group Plc have formed a partnership to develop ports in Africa and committed to spending USD 1.72 billion on infrastructure over the next few years.

DP World, which is based in Dubai and is one of the world's biggest port operators, will invest USD 1 billion in facilities including in Dakar in Senegal, Ain Sokhna in Egypt, and Berbera in Somaliland. CDC, a UK-based development finance group, will initially contribute USD 320 million and has committed an additional USD 400 million over the next few years.

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