Emirati multinational logistics company DP World plans to invest $3 billion in upgrading and modernizing transportation infrastructure across Africa over the next three to five years.
The announcement comes as the company aims to cater to increasing demand for logistics services, driven by growing global appetite for African critical minerals. Home to 15 of the world’s fastest-growing economies in 2024, the African continent also holds over 30% of global critical mineral reserves.
“….The logistics opportunity is huge in Africa,” stated Mohammed Akoojee, CEO of DP World. “We’ve seen demand [for port services] increasing over the last few years, largely driven by electrification drive globally, and the demand for commodities like cobalt, lithium, and we’ve been beneficiaries.”
Up to $2 billion will be allocated to port projects, while $1 billion will go towards enhancing logistics businesses, including road and rail infrastructure and services.
