British International Investment (BII), the UK’s development finance institution and impact investor, is set to invest up to US$35 million in the initial phase of the Democratic Republic of Congo’s (DRC) first deepwater container port, the Port of Banana.
This investment extends BII’s partnership with global ports and logistics operator DP World, which began with the modernization of ports in Dakar (Senegal), Sokhna (Egypt), and Berbera (Somaliland) in 2021. BII will remain a minority investor in the Port of Banana, similar to its role in the previous projects.
The original BII-DP World partnership is expected to improve access to vital goods for 35 million people, support 5 million jobs, and generate an additional US$51 billion in trade by 2035. The Port of Banana will further this impact, offering a gateway for large container vessels, reducing trade costs in the DRC by 12%, and creating approximately 85,000 jobs.
The port’s development will be phased, with capacity increasing over time and connections to major urban centres, including Kinshasa, via a 578 km trade corridor. This infrastructure will economically benefit the 54 million people living along this corridor.
Increased containerized trade in Western DRC will make essential imported goods like food, textiles, and pharmaceuticals more affordable and accessible.
“The development impact case for investing in ports is irrefutable. Africa has a sixth of the world’s population but accounts for just 4 per cent of global containerised shipping volumes. Ports are vital to the long-term prosperity and well-being of countless people across the continent. The Port of Banana will play a major role in supporting the economic aspirations of millions living in DRC. This investment forms part of BII’s ongoing commitment to investing in key sectors in Africa, with further projects under development in the region,” stated Chris Chijiutomi, Managing Director and Head of Africa for BII.
