DP WORLD PARTNERS WITH CDC GROUP TO CREATE AFRICA INVESTMENT PLATFORM

-     New platform to invest in ports and logistics across Africa

-     Initially includes investment in DP World assets of Senegal, Egypt and Somaliland

12 October 2021, Dubai, UAE, and UK: DP World announces the creation of an investment platform in partnership with the UK's development finance institution and impact investor CDC Group (CDC). 

The platform covers a long-term investment period. DP World is contributing its stakes in three existing ports initially and expects to invest a further $1 billion through the platform over the next several years. CDC is committing approximately $320 million initially and expects to invest up to a further $400 million over the next several years. The transaction is subject to certain final regulatory approvals.

The platform will invest in origin and destination ports, inland container depots, economic zones and other logistics across Africa to increase trade, create new job opportunities and broaden access to essential goods. It will initially be seeded with minority stakes in existing DP World assets with significant capacity expansion plans, including Dakar (Senegal), Sokhna (Egypt) and Berbera (Somaliland). Trade enabled through the ongoing expansions is expected to create an additional 138,000 employment opportunities in the wider economy. By 2035, the ports are expected to support stable employment for around 5 million people indirectly.

DP World has more than 20 years of experience developing and operating ports and infrastructure and providing logistics solutions in Africa and globally. This transaction is aligned with DP World's strategy of partnering with organisations that offer complementary expertise and have a shared vision for enabling trade and driving economic and social development.

CDC is the UK's development finance institution and impact investor with over 70 years of experience successfully supporting the sustainable, long-term growth of business in Africa and South Asia. CDC is owned by the UK Government and has a dual objective to deliver development impact by supporting business growth that lifts people out of poverty and makes a financial return.

Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: "We are excited to announce a partnership with CDC Group that will enable increased investment in ports and logistics infrastructure across Africa, driving efficiency and trade growth. The partnership will create transformational opportunities for tens of millions of people over the next decade.

"In CDC, we have found a partner with whom we share the common goal to invest in the long term and help build responsible and sustainable infrastructure in Africa, which is key to unlocking the trade potential of the continent.

"DP World is committed to Africa for the long-term and sees significant opportunity for future growth across the continent. The partnership with CDC offers the flexibility to accelerate and capitalise on these opportunities.

"By combining our in-depth knowledge of ports and logistics and CDC's expertise in infrastructure investment in Africa, we can drive greater supply chain efficiencies, provide improved trade connectivity and ultimately enhance value for all stakeholders."

Nick O'Donohoe, Chief Executive Officer, CDC, added: "Stable and flourishing economies are built on reliable access to global and intra-continental trade. Africa's full potential is limited by inadequate ports and trade bottlenecks, putting the brakes on economic growth in some of the world's fastest-growing economies and undermining social resilience in the least developed parts of the world. This platform will help entrepreneurs and businesses accelerate growth with access to reliable trade routes, and it will help African consumers benefit from the improved reliability and reduced cost of vital goods and food staples.

"We are proud to support DP World to do even more in Africa, charting a stronger course for African trade around the world."

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Investor Enquiries:

Redwan Ahmed                                               Maryam Ali AlZaabi

DP World Limited                                            DP World Limited

Mobile: +971 50 5541557                                 Mobile: +971 54 5828065

Direct: +971 4 8080842                                    Direct: +971 4 8080877

[email protected]                            [email protected]

About DP World

We are the leading provider of worldwide smart end-to-end supply chain logistics, enabling the flow of trade across the globe. Our comprehensive range of products and services covers every link of the integrated supply chain - from maritime and inland terminals to marine services and industrial parks, as well as technology-driven customer solutions.

 We deliver these services through an interconnected global network of 181 business units in 64 countries across six continents, with a significant presence in high-growth and mature markets. Wherever we operate, we integrate sustainability and responsible corporate citizenship into our activities, striving for a positive contribution to the economies and communities where we live and work.

Our dedicated, diverse and professional team of more than 56,000 employees from 140 nationalities are committed to delivering unrivalled value to our customers and partners. We do this by focusing on mutually beneficial relationships - with governments, shippers, traders, and other stakeholders along the global supply chain - relationships built on a foundation of mutual trust and enduring partnership.

We think ahead, anticipate change and deploy industry-leading technology to broaden our vision of more efficient, transparent and resilient world trade. We achieve this by leveraging disruptive innovation to create the smartest and most effective logistics solutions while ensuring a positive and sustainable impact on economies, societies and our planet.

About CDC Group

CDC Group is the UK's impact investor with over 70 years of experience of successfully supporting the sustainable, long-term growth of businesses in South Asia and Africa.

CDC has a long track record in building infrastructure partnerships in Africa; Globeleq, one of SSA's largest Independent Power Producers; Vodacom/Safaricom for The Global Partnership in Ethiopia; AKFED IPS the power platform in Africa.

The company is a leading player in the fight against climate change and has committed more than $1bn of climate finance over the last four years. CDC is also a founding member of the 2X challenge which has raised $10bn to empower women's economic development. 

The company has investments in over 1000 businesses in emerging economies and total assets of $9.3bn. In 2020, CDC committed over of $1.5bn to businesses in Africa and Asia and aims to invest up to $1.75bn in 2021 - with a focus on driving inclusive growth, job creation and supporting economic recovery from COVID-19.

CDC is funded by the UK government and is a champion of the UN's Sustainable Development Goals. All proceeds from CDC's investments are reinvested to improve the lives of millions of people in Africa and South Asia.

CDC's expertise makes it an ideal partner for private investors looking to devote capital to making a measurable environmental and social impact in countries most in need of investment.