DP World joins in as Africa’s logistics hot-spots attract the big players
DP World is investing $90m in Angola’s port of Luanda, expanding annual capacity from 500,000 to 1.2m teu, after container volumes at the terminal nearly doubled over the past five years. Other terminal operators have also added or announced capacity in Africa, including MSC’s Terminal Investment Ltd with a 45-year concession at Nigeria’s Snake Island and APMT’s pledge of about $600m for its Nigerian operations. DP World’s Africa CEO Mohammed Akoojee said port capacity must be planned ahead of demand and that conditions vary across West and Central Africa.
Why it matters: This matters for the trade theme, as the investments reflect expectations of growth in African trade and evolving shipping requirements.