British International Investment (BII), the UK’s development finance institution, has pledged up to $35M for the first phase of a new container port in the Democratic Republic of Congo (DRC). The Port of Banana will be the DRC’s first deepwater container port, enhancing the country’s access to global markets and unlocking significant trade potential.
The DRC, Africa’s second-largest country by land area and fourth-most populous, stands to benefit greatly from this strategic investment, expected to create around 85,000 jobs and boost trade by $1.12B. With a draft depth of 17.5 metres, the port will handle large container ships, reducing trade costs by 12 per cent.
This investment builds on BII’s partnership with DP World, which began with port modernisations in Dakar, Sokhna, and Berbera.
UK Minister for Africa, Lord Collins, noted that this investment will transform the DRC’s economy, establishing it as a major trading hub. Chris Chijiutomi from BII highlighted the port’s role in supporting economic growth, while DP World’s CEO for Sub-Saharan Africa, Mohammed Akoojee, emphasised the project’s impact on trade infrastructure and job creation.