British International Investment commits US$35 million to DR Congo port development

British International Investment (BII), the UK’s development finance institution and impact investor, has committed to invest up to US$35 million towards the development of the first phase of a new container port in the Democratic Republic of the Congo.

BII said the Port of Banana will be the country’s first deepwater container port. Upon completion, it will provide local manufacturers and suppliers with direct access to international markets.

The commitment to the Port of Banana is an extension of the partnership between BII and global ports and logistics operator DP World, commencing with the modernisation and expansion of ports in Dakar (Senegal), Sokhna (Egypt), and Berbera (Somaliland) in 2021. As with the other ports in the partnership, BII will be a minority investor in the new port.

With a draft of 17.5 metres, the Port of Banana will receive large container vessels from overseas and will become the single gateway for imports and exports of containers in the DRC.

BII expects the development of the port will enable the creation of approximately US$1.12 billion in additional trade and US$429 million in increased economic outlook – equivalent to a 0.65 per cent increase in the DRC’s GDP, according to an evaluation commissioned by BII.

The port is being developed in multiple phases and its capacity will gradually increase over time. It will be connected to a network of additional infrastructure, including a free zone and multimodal logistics infrastructure to the country’s largest urban centres, including Kinshasa and its almost 17 million inhabitants, via the cities of Boma and Matadi.