DP World is planning a major logisitics hub in Ethiopia. Charles Crowell / Bloomberg
DP World is planning a major logisitics hub in Ethiopia. Charles Crowell / Bloomberg
DP World is planning a major logisitics hub in Ethiopia. Charles Crowell / Bloomberg
DP World is planning a major logisitics hub in Ethiopia. Charles Crowell / Bloomberg

DP World wins 30-year concession for Congo deepwater port amid Africa expansion push


Deena Kamel
  • English
  • Arabic

DP World, the world’s fourth largest port operator, won a 30-year concession to develop a $1 billion deepwater port along the Congo’s Atlantic coast, as the company forges ahead with plans to expand in Africa despite disputes to its business on the continent. 

The Nasdaq-listed global ports operator will manage and develop the greenfield Port of Banana in a joint venture with the government of Democratic Repuplic of Congo, with the option of a 20-year extension, it said in an emailed statement. DP World will get a 70 per cent stake and the DRC government keeps a 30 per cent holding in the project. Construction will start this year and finish in two years. 

The project will have "a major impact on the country's trade with significant cost and time savings, attracting more direct calls from larger vessels from Asia and Europe, and ultimately acting as a catalyst for the growth of the country and the region's economy," Sultan bin Sulayem, DP World's group chairman and chief executive, said.

The Congo project extends DP World’s ambitous push to expand in Africa. Congo has long sought to develop a port along its 37-kilometer coast to handle bigger vessels than those that can reach its existing shallow water ports along the Congo river. 

The country's existing ports at Matadi and Boma are inland up the Congo river and are incapable of handling traffic from large cargo liners because of a lack of capacity and draught, according to a PwC study of DRC's  infrastructure. As a result, it relies on transshipments of cargo from Pointe Noire in neighboring Republic of Congo. The new port will "dramatically improve" the cost and speed of trade and reduce dependency on neighbouring countries for shipments, Jose Makila, DRC Transport Minister said. 

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Unfazed by Djibouti, DP World looks at more African investment options

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The four-phase project will start with an initial investment of $350 million to build a 600-meter quay with a container capacity of 350,000 TEUs, or twenty-foot equivalent units, and 1.5 million tonnes of general cargo. DP World said the investment will be “dependent on market demand, industrial and logistics zone infrastructure.” 

“For DP World the investment in Banana is all about the potential that Africa has for growth and the Congo in particular,” Neil Davidson, analyst at Drewry shipping consultancy, said. 

“At present, Congo’s container volumes are minimal – less than 100,000 TEUs per year-– but the country has a large population, plus there are significant bulk and breakbulk cargoes.”

For DRC, the project will enhance its position in Africa and its trade connectivity to the world, Rita Guindy, director at Arqaam Capital, said. The state will gain a long-term source of income and could become a small transshipment course to transport goods to neighbouring countries as the port expands at later phases. 

“It will put Congo on the map more than before,” Ms Guindy said. The planned 1.5 million tonnes of general cargo capacity will also enhance raw material trade for DRC, who is Africa’s largest copper producer and the world’s biggest source of cobalt. 

The agreement with DP World is a boost of confidence to the Congolese economy battling with reforms and debt. In December, the International Monetary Fund said a deeper recession of the non-oil economy in 2017 was “hurting the most vulnerable segments of the population”.

The Washington-based lender said “the accumulation of government arrears is jeopardising private sector activity, contributing to bank liquidity shortages, and undermining social services.” 

DRC government is saddled with $9.14 billion of public debt, equivalent to about 110 per cent of GDP.

Venturing into another foray in Africa is in line with DP World’s focus on emerging and developing market, but the region comes with uncertainties. 

“Operating in these geographies and economies is always high risk, because they may not continue with the same conditions agreed on or discontinue operating at all, but in general it’s more rewarding than developed economies,” Ms Guindy said. 

DP World has faced challenges to its African business in recent weeks. In Djibouti, DP World said it will begin arbitration procedures after the government unilateraly announced it will end its contract to run the Doraleh Container Terminal.

Earlier this month, Somalia’s lower house voted to reject a deal by Somaliland and DP World to grant a stake in the Port of Berbera to Ethiopia, aggravating the spat between the central government in Mogadishu and the country’s semi-autonomous northern region.

Results

2pm: Maiden (TB) Dh60,000 (Dirt) 1,200m, Winner: Mouheeb, Tom Marquand (jockey), Nicholas Bachalard (trainer)

2.30pm: Handicap (TB) Dh68,000 (D) 1,200m, Winner: Honourable Justice, Royston Ffrench, Salem bin Ghadayer

3pm: Handicap (TB) Dh84,000 (D) 1,200m, Winner: Dahawi, Antonio Fresu, Musabah Al Muhairi

3.30pm: Conditions (TB) Dh100,000 (D) 1,200m, Winner: Dark Silver, Fernando Jara, Ahmad bin Harmash

4pm: Maiden (TB) Dh60,000 (D) 1,600m, Winner: Dark Of Night. Antonio Fresu, Al Muhairi.

4.30pm: Handicap (TB) Dh68,000 (D) 1,600m, Winner: Habah, Pat Dobbs, Doug Watson

UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Checks continue

A High Court judge issued an interim order on Friday suspending a decision by Agriculture Minister Edwin Poots to direct a stop to Brexit agri-food checks at Northern Ireland ports.

Mr Justice Colton said he was making the temporary direction until a judicial review of the minister's unilateral action this week to order a halt to port checks that are required under the Northern Ireland Protocol.

Civil servants have yet to implement the instruction, pending legal clarity on their obligations, and checks are continuing.

Conflict, drought, famine

Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.

Band Aid

Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.

MATCH INFO

Leeds United 0

Brighton 1 (Maupay 17')

Man of the match: Ben White (Brighton)

While you're here
THE CLOWN OF GAZA

Director: Abdulrahman Sabbah 

Starring: Alaa Meqdad

Rating: 4/5

Company Profile:

Name: The Protein Bakeshop

Date of start: 2013

Founders: Rashi Chowdhary and Saad Umerani

Based: Dubai

Size, number of employees: 12

Funding/investors:  $400,000 (2018) 

Tips to stay safe during hot weather
  • Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
  • Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
  • Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
  • Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
  • Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
  • Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
  • Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
UAE currency: the story behind the money in your pockets
'Munich: The Edge of War'

Director: Christian Schwochow

Starring: George MacKay, Jannis Niewohner, Jeremy Irons

Rating: 3/5

$1,000 award for 1,000 days on madrasa portal

Daily cash awards of $1,000 dollars will sweeten the Madrasa e-learning project by tempting more pupils to an education portal to deepen their understanding of math and sciences.

School children are required to watch an educational video each day and answer a question related to it. They then enter into a raffle draw for the $1,000 prize.

“We are targeting everyone who wants to learn. This will be $1,000 for 1,000 days so there will be a winner every day for 1,000 days,” said Sara Al Nuaimi, project manager of the Madrasa e-learning platform that was launched on Tuesday by the Vice President and Ruler of Dubai, to reach Arab pupils from kindergarten to grade 12 with educational videos.  

“The objective of the Madrasa is to become the number one reference for all Arab students in the world. The 5,000 videos we have online is just the beginning, we have big ambitions. Today in the Arab world there are 50 million students. We want to reach everyone who is willing to learn.”

Our legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Green ambitions
  • Trees: 1,500 to be planted, replacing 300 felled ones, with veteran oaks protected
  • Lake: Brown's centrepiece to be cleaned of silt that makes it as shallow as 2.5cm
  • Biodiversity: Bat cave to be added and habitats designed for kingfishers and little grebes
  • Flood risk: Longer grass, deeper lake, restored ponds and absorbent paths all meant to siphon off water 
Ovo's tips to find extra heat
  • Open your curtains when it’s sunny 
  • Keep your oven open after cooking  
  • Have a cuddle with pets and loved ones to help stay cosy 
  • Eat ginger but avoid chilli as it makes you sweat 
  • Put on extra layers  
  • Do a few star jumps  
  • Avoid alcohol   
Aayan%E2%80%99s%20records
%3Cp%3E%3Cstrong%3EYoungest%20UAE%20men%E2%80%99s%20cricketer%3C%2Fstrong%3E%3Cbr%3EWhen%20he%20debuted%20against%20Bangladesh%20aged%2016%20years%20and%20314%20days%2C%20he%20became%20the%20youngest%20ever%20to%20play%20for%20the%20men%E2%80%99s%20senior%20team.%20He%20broke%20the%20record%20set%20by%20his%20World%20Cup%20squad-mate%2C%20Alishan%20Sharafu%2C%20of%2017%20years%20and%2044%20days.%3Cbr%3E%20%3Cbr%3E%3Cstrong%3EYoungest%20wicket-taker%3C%2Fstrong%3E%3Cbr%3EAfter%20taking%20the%20wicket%20of%20Bangladesh%E2%80%99s%20Litton%20Das%20on%20debut%20in%20Dubai%2C%20Aayan%20became%20the%20youngest%20male%20cricketer%20to%20take%20a%20wicket%20against%20a%20Full%20Member%20nation%20in%20a%20T20%20international.%3Cbr%3E%20%3Cbr%3E%3Cstrong%3EYoungest%20in%20T20%20World%20Cup%20history%3F%3C%2Fstrong%3E%3Cbr%3EAayan%20does%20not%20turn%2017%20until%20November%2015%20%E2%80%93%20which%20is%20two%20days%20after%20the%20T20%20World%20Cup%20final%20at%20the%20MCG.%20If%20he%20does%20play%20in%20the%20competition%2C%20he%20will%20be%20its%20youngest%20ever%20player.%20Pakistan%E2%80%99s%20Mohammed%20Amir%2C%20who%20was%2017%20years%20and%2055%20days%20when%20he%20played%20in%202009%2C%20currently%20holds%20the%20record.%3C%2Fp%3E%0A
F1 drivers' standings

1. Lewis Hamilton, Mercedes 281

2. Sebastian Vettel, Ferrari 247

3. Valtteri Bottas, Mercedes 222

4. Daniel Ricciardo, Red Bull 177

5. Kimi Raikkonen, Ferrari 138

6. Max Verstappen, Red Bull 93

7. Sergio Perez, Force India 86

8. Esteban Ocon, Force India 56

HWJN
%3Cp%3EDirector%3A%20Yasir%20Alyasiri%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Baraa%20Alem%2C%20Nour%20Alkhadra%2C%20Alanoud%20Saud%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A%3Cp%3E%3C%2Fp%3E%0A
CHATGPT%20ENTERPRISE%20FEATURES
%3Cp%3E%E2%80%A2%20Enterprise-grade%20security%20and%20privacy%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Unlimited%20higher-speed%20GPT-4%20access%20with%20no%20caps%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Longer%20context%20windows%20for%20processing%20longer%20inputs%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Advanced%20data%20analysis%20capabilities%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Customisation%20options%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Shareable%20chat%20templates%20that%20companies%20can%20use%20to%20collaborate%20and%20build%20common%20workflows%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Analytics%20dashboard%20for%20usage%20insights%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Free%20credits%20to%20use%20OpenAI%20APIs%20to%20extend%20OpenAI%20into%20a%20fully-custom%20solution%20for%20enterprises%3C%2Fp%3E%0A
COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million