Africa Maritime

DP World Heaps Praise on its Partners for Good Governance and Political Stability

DP World will expand its investments in countries that have political stability and fulfil their commitments, collaborating with governments to ensure a positive and sustainable impact on economies and societies.

Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, speaking in a live interview on Al Arabiya pan-Arab television channel , said he was honoured to be working with H.E. Macky Sall, President of Senegal on the development of plans to transform Senegal into a major logistics hub and gateway to West and North West Africa, and support the realisation of His Excellency’s ambitious economic development plans for Senegal, the Plan Senegal Emergent (PSE).

“Senegal has proved itself to be a stable country, including the smooth transition of power and the growth of the economy. We have been in Senegal for the last 12 years, and even after the transition of power, nothing changed in our operations. During this period, growth increased, volumes doubled and so did the number of employees”, Bin Sulayem told the Arabic language channel.

He added: “Senegal has offered many facilities and it has transparency. It has a strategic plan – Plan Senegal Emergent – and this is what has encouraged us to invest even more. It is a great plan; Senegal has a growth rate of 5% annually, and this rate is expected to rise to 6.2 % next year. By 2026, the growth rate is expected to rise to 10%”, Bin Sulayem revealed. He said H.E. President Macky Sall has the trust of his people to lead the country to the future.

DP world is also involved in Somaliland by expanding the Berbera port in which the company has pumped in $442 million.

And a statement from Somaliland envoy to Kenya Bashe Omar stated: “As Somaliland we are pleased that the DP World Chairman, Sultan Ahmed Bin Sulayem is appreciative of Somaliland good Governance. Somaliland has been carrying out comprehensive and ambitious steps towards legal, institutional and political reform, including holding local elections and the introduction of frameworks to improve accountability. As a country we have already made considerable progress. Somaliland is committed to working in an efficient and transparent manner with the participation of the population.

The DP World boss said companies expand their investments in the countries that they trust. “We trust the policies of the (Senegal) government. These policies also encourage banks to finance major projects in countries that respect agreements”, indicating that considerable investments have also been made in Peru, Chile and other countries around the world. In Africa, DP World has operations in Senegal, Egypt, Mozambique, Somaliland, Rwanda, Algeria and the Democratic Republic of Congo. He praised Rwanda for their superb economic performance and lauded the efforts of the governments of countries where DP World operates in Africa for their good governance.

“We are not just a port operator. We are now a global provider of end-to-end logistics solutions”, he said. This is backed by one of the world’s largest networks of ports, economic zones, feeders and inland transportation assets operating in 60 countries across six continents. He said the company has been digitising trade as that will help companies do more business, more efficiently. “We have also been investing in acquisitions of companies and railways”, he added.

This week, DP World signed an agreement with the Government of Senegal for the development of a deep water port at Ndayane, which is part of the trade enabler’s 50-year concession for the Port of Dakar. The new port is located approximately 50kms from the existing port and near the Blaise Diagne international airport. The duration of the concession, which has two 25-year terms, starts once operations begin at the new port, according to the addendum to the existing concession of 2017. Investment in the first phase by DP World Dakar is US$837m, expected to be followed by a second phase of investment of US$290m.