Dubai’s ports giant DP World and Britain’s development finance agency CDC Group on Tuesday said they had agreed to jointly invest in transport and logistics infrastructure across Africa.
The investments in ports, container depots, business parks and other infrastructure would be made through a newly created investment platform set up by DP World and CDC, they said.
State-owned DP World said it had contributed minority stakes in three ports it operates in Africa to the platform and that it planned to invest $1 billion over the next few years.
The ports are in Egypt’s Sokhna, Senegal’s Dakar, and Berbera in Somalia’s breakaway region of Somaliland.
CDC said it had committed $320 million to the platform, through which it expected to invest up to an additional $400 million over the next several years.