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African ports increase capacity with investments from Dubai and France


Port capacities of African countries are expanding to boost trade and economic diversity across the continent. These effects can be seen in Djibouti, Côte d'Ivoire, Benin, Congo, and Somaliland. Tanger-Med port in Morocco has recently become the largest in the Mediterranean, and Kenya is ready to launch its decade long plan to increase shipping and logistics capacity. Gabon has secured a funding of USD 341 million to expand the capacity of Owendo port in Libreville while Namibia has launched expanded container terminal worth USD 268 million in the main port of Walvis Bay on 5th August. This funding is the collaboration between Government, donor funding, and private investment from the organization such as Dubai’s DP World and France’s Bolloré. Deloitte researched has found that China is the top investor in African port development with nearly 52.8 per cent investment in African infrastructure, mainly in ports and logistic projects. This investment will add up 85 million tons of annual capacity to these ports. Ports developments are the refreshing bright spot for Africa as this initiative is to align with Africa’s infrastructure development plan to expand the trade and investment in the countries.

Source : Bizmart