Ports Shipping and Logistics (Commonwealth Union) – British International Investment (BII), the UK’s development finance institution and impact investor, has pledged to invest up to $35 million in the initial phase of a new container port in the Democratic Republic of Congo (DRC).
The DRC, Africa’s second-largest country and the fourth most populous on the continent, will gain its first deepwater container port with the Port of Banana. This development is set to significantly enhance the DRC’s direct access to global markets, thereby unlocking the country’s trading potential to benefit millions of its citizens.
The Port of Banana serves as the DRC’s primary gateway for international trade, handling a significant volume of imports and exports. The port is well-equipped with modern facilities, including container terminals, cargo handling equipment, and storage facilities. It can accommodate various types of vessels, from small riverboats to large ocean-going ships.
One of the key advantages of the Port of Banana is its location near the mouth of the Congo River, which provides access to the vast inland waterway system of the DRC. This connectivity allows for the transportation of goods to and from the country’s interior, including the capital city of Kinshasa, located further upstream.
This investment in the Port of Banana is an extension of the collaboration between BII and global ports and logistics operator DP World, which began with the modernization and expansion of ports in Dakar (Senegal), Sokhna (Egypt), and Berbera (Somaliland) in 2021. Similar to those projects, BII will hold a minority stake in the new port.
The three ports involved in the original partnership between BII and DP World are expected to improve access to essential goods for around 35 million people, support 5 million jobs (creating 138,000 new positions), and contribute an additional $51 billion to total trade by 2035. Furthermore, these developments are anticipated to lower logistics costs, create employment, transform lives, and stimulate economic growth across the regions and the continent.
With a draft of 17.5 meters, the Port of Banana will be capable of receiving large container vessels from around the world, becoming the primary gateway for container imports and exports in the DRC. These improvements are projected to reduce trade costs in the DRC by 12%. The port’s development is also expected to create approximately 85,000 jobs and generate about $1.12 billion in additional trade, along with a $429 million boost to the economy—equivalent to a 0.65% increase in the DRC’s GDP, as demonstrated in the evaluation commissioned by BII.
As the exclusive maritime gateway for all containerized goods arriving by sea in the DRC, the port will grant the country logistical autonomy and reinforce its control over foreign trade.
The Port of Banana will significantly enhance the economic well-being of the DRC’s lowest-income rural households. Approximately one-third of the new jobs generated by trade through the port are anticipated to be in the agricultural sector, providing benefits to thousands of farmers and agricultural workers.
The rise in containerized trade in Western DRC will also reduce the cost and increase the availability of essential imported goods such as clothing, textiles, food, pharmaceuticals, and consumer products.
“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 wellbeing 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,” explained Chris Chijiutomi, who is the Managing Director and Head of Africa for BII.
Ports are essential for a country’s economic growth, international trade, and overall development. They provide access to global markets, enable the import of essential goods, create jobs, and stimulate investment in related industries. The first deep-sea port of the DRC may usher in a new era of prosperity.
