Hot News
Dubai ports, Britain’s development agency CDC to invest $1.7bn in Africa
Agency Report
Dubai ports giant DP World and Britain’s development finance agency CDC Group on Tuesday said they planned to jointly invest up to $1.72 billion in logistics infrastructure in Africa over the next several years, starting with modernising three ports.
The investments will initially focus on expanding ports operated by DP World in Egypt’s Ain Sokhna, Senegal’s Dakar, and Berbera in Somalia’s breakaway region of Somaliland, CDC said.
State-owned DP Word has committed to investing $1 billion over the next several years, while CDC has committed $320 million and potentially investing up to a further $400 million.
The joint investments will eventually be expanded to other regions in Africa, in what DP World and CDC hope will accelerate inbound and outbound trade for the continent.
“We have an aligned vision with DP World in that we wanted to do this across the continent in as many ports as possible,” CDC’s Head of Africa Tenbite Ermias told Reuters.
-
News14 hours ago
Enugu govt plans befitting burial for Mr Ibu, Junior Pope
-
News18 hours ago
Why Bobrisky is not in Kirikiri prison – NCoS official
-
News15 hours ago
Kano police arrest suspects for disrupting inauguration of new commissioners
-
News19 hours ago
NSA laments booming illegal firearms market in North
-
Politics13 hours ago
Zamfara bans officials from radio, TV interviews
-
News12 hours ago
Kastina police foil attack, neutralize suspected bandit
-
News9 hours ago
Kenneth Okonkwo knocks CBN’s forex management amid economic struggles
-
Politics18 hours ago
FG places ex-Kogi gov. Yahaya Bello on watchlist