Africa is increasingly attracting the United Arab Emirates. DP World PLC, a UAE-based company engaged in the operation and development of international maritime terminals, logistics and related services, plans to invest $3 billion over the next three to five years for new port infrastructure in Africa to meet long-term growth, including growing demand for exports of vital minerals, reports Bloomberg. “The cost of logistics and supply chain services across Africa is extremely high compared to other global markets, which represents a good opportunity,” said Mohammed Akoojee, DP World managing director for sub-Saharan African region. He wanted to emphasize
that the thriving market for vital minerals, including copper from Zambia and the Democratic Republic of Congo, is helping to increase the need for increased logistics capabilities. “We have seen an increase in demand over the past few years, largely driven by global movements and demand for products such as cobalt and lithium,” Akoojee added.
Read: Algeria “punishes” the United Arab Emirates because of Morocco
The African division of DP World employs 27,000 people. It covers port operations, terminals, logistics services and the supply chain. The port operator is expanding in Dar es Salaam, Tanzania. But it failed in its attempt to partner with South Africa’s Transnet SOC to develop the continent’s largest container port. He lost to International Container Terminal Services of Filipino billionaire Enrique Razon. Recently, the African arm of DP World PLC assessed ports in South Africa and Kenya, with a view to future investments.
Read: Emirati support for Morocco: Algeria angry
At the invitation of Sheikh Mohammed bin Zayed Al Nahyan, King Mohammed VI made an official visit in early December 2023 to the United Arab Emirates. On the sidelines of this visit, several agreements and promises of agreements were signed in Abu Dhabi by the two personalities. Among them, a memorandum of understanding to establish cooperation on investment in the port sector, aimed at promoting investment opportunities, as well as other innovative mechanisms to finance projects in the port sector in Morocco, in in particular the port of Dakhla Atlantique and the port of Nador West Med.
