Berbera Port Construction Project
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ZodiaK
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BUDD Group - Service Provider to the maritime Industry since 1850
BUDD Group Service Provider to the maritime Industry since 1850.
www.budd-pni.com
Coming Soon – Budd Berbera (Somaliland)
Budd Group to Offer Services at Africa's Expanded Berbera Port
With Berbera set to become the new gateway for the region, the Budd Group plans to expand its services for vessels and their P&I/H&M clubs in this port. In the meantime, the Budd Group’s experienced surveyors are available to assist with precautionary surveys or tallies. With its knowledge of local shipping regulations and practices, the Budd Group plans to open a formal office in Berbera coordinated with the opening of the new port facilities.
The main shipping companies present in Djibouti are now represented in Berbera, eg. PIL, MSC, GULF AGENCY MARILL, FASTTRACK, ISS, CMA CGM.
ZodiaK
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DP World strengthens African business in H1 2021 - The Africa Logistics
World reported 7.5 percent growth in revenue in the Middle East, Europe and Africa regions to $3.1 billion during H1 2021, benefitting from
www.theafricalogistics.com
DP World invested $516 million in the regions, mainly focused on capacity expansions in UAE, Sokhna (Egypt), Berbera (Somaliland), and London Gateway (UK).
Capital expenditure guidance for 2021 is for approximately $1.2 billion with investments planned into UAE, Canada, Jeddah (Saudi Arabia), Berbera (Somaliland), Sokhna (Egypt), Luanda (Angola), P&O Ferries, London Gateway (UK) and Callao (Peru).
ZodiaK
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“The future of aid is to ignite the private sector,” “Countries will stay poor for ever unless their private sectors grow.”
The UK government’s development investment arm is to make the single-biggest investment in its 73-year history by taking a minority stake in three African ports in a $1.7bn joint venture with DP World, the Dubai-based ports operator.
The expansion of Berbera, former capital of the protectorate of British Somaliland, would increase Somaliland’s gross domestic product by an estimated 6 per cent, he said, as well as providing an alternative to using Djibouti for landlocked Ethiopia.
DP World Ltd. and CDC Group Plc have formed a partnership to develop ports in Africa and committed to spending $1.72 billion on infrastructure over the next few years.
DP World, which is based in Dubai and is one of the world’s biggest port operators, will invest $1 billion in facilities including in Dakar in Senegal, Ain Sokhna in Egypt, and Berbera in Somaliland. CDC, a U.K.-based development finance group, will initially contribute $320 million and has committed an additional $400 million over the next few years.
The partnership, along with the modernization and expansions at the ports, is expected to boost trade in the three territories, as well as further inland in Mali in West Africa and Ethiopia in the Horn of Africa, the companies said in a statement on Tuesday. They intend spending about $1 billion on the port in Dakar alone.
The UK government’s development investment arm is to make the single-biggest investment in its 73-year history by taking a minority stake in three African ports in a $1.7bn joint venture with DP World, the Dubai-based ports operator.
The expansion of Berbera, former capital of the protectorate of British Somaliland, would increase Somaliland’s gross domestic product by an estimated 6 per cent, he said, as well as providing an alternative to using Djibouti for landlocked Ethiopia.
- Initial focus will be on Senegal, Egypt and Somaliland
- Investment expected to drive trade and exports, CDC Says
DP World Ltd. and CDC Group Plc have formed a partnership to develop ports in Africa and committed to spending $1.72 billion on infrastructure over the next few years.
DP World, which is based in Dubai and is one of the world’s biggest port operators, will invest $1 billion in facilities including in Dakar in Senegal, Ain Sokhna in Egypt, and Berbera in Somaliland. CDC, a U.K.-based development finance group, will initially contribute $320 million and has committed an additional $400 million over the next few years.
The partnership, along with the modernization and expansions at the ports, is expected to boost trade in the three territories, as well as further inland in Mali in West Africa and Ethiopia in the Horn of Africa, the companies said in a statement on Tuesday. They intend spending about $1 billion on the port in Dakar alone.
ZodiaK
VIP
- Partnership will help address stark imbalance in global trade, accelerate Africa’s potential as a global trading powerhouse, and improve the economic prospects of millions of people
- Initial focus on modernising and expanding three ports in Dakar, Sokhna and Berbera, with further ports and logistics investments across Africa to follow
- Trade enabled through the three initial ports will improve access to vital goods for 35 million people, support 5 million jobs (138,000 created), and add $51 billion to total trade by 2035
Africa has a sixth of the world’s population, but accounts for just 4 per cent of global containerised shipping volumeshttps://www.cdcgroup.com/en/news-in...rse-for-african-trade-around-the-world/#_edn1. Ports are vital to the long-term prosperity and wellbeing of people. But many ports and logistics facilities in Africa remain constrained, lacking in capacity to meet the needs of local economies.
This partnership, which has been worked towards for four years, will help change that. It will help address the stark imbalance in global trade through supporting the modernisation and expansion of ports and inland logistics across Africa, starting in the ports of Dakar (Senegal), Sokhna (Egypt) and Berbera (Somaliland). The platform covers a long-term investment period. DP World is contributing its stakes in the three existing ports initially and expects to invest a further $1 billion through the platform over the next several years. CDC is committing approximately $320 million initially and expects to invest up to a further $400 million over the next several years. The transaction is subject to certain final regulatory approvals.
Better performing trade infrastructure allows businesses to expand and to create jobs. It can improve the quality of life for millions of people by reducing the cost of living for many who currently overpay for vital imported goods. Trade enabled by the three initial ports will support 5 million jobs in the wider economy (of which 138,000 are expected to be created by the ongoing port expansions and modernisations), and will improve access to critical goods and staples including food; this will benefit over 35 million people across the three geographies, including further afield to the wider Horn of Africa and parts of the Sahel.
By 2035, an estimated $51 billion in additional trade is forecast to pass through the ports, equivalent to 3 per cent of Senegal’s GDP, 3 per cent of Egypt’s GDP and 6 per cent of Somaliland’s GDP.
The ports will also provide a gateway to international markets for countless African businesses and entrepreneurs, as well as supporting the growth of nascent export industries currently stymied by logistics inefficiency.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: “DP World views Africa as a long-term growth market and the opportunity landscape remains significant. This partnership with CDC offers us greater flexibility to accelerate and capitalise on these opportunities, and will enable us to increase our investment in ports and logistics infrastructure across Africa. The partnership will create transformational opportunities for millions of people over the next decade.”
Nick O’Donohoe, Chief Executive Officer, CDC Group, said: “Stable and flourishing economies are built on reliable access to global and intra-continental trade. Africa’s full potential is limited by inadequate ports and trade bottlenecks, putting the brakes on economic growth in some of the world’s fastest growing economies and undermining social resilience in the least developed parts of the world. This platform will help entrepreneurs and businesses accelerate growth with access to reliable trade routes and it will help African consumers benefit from the improved reliability and reduced cost of vital goods and food staples.
“We are proud to support DP World to do even more in Africa, charting a stronger course for African trade around the world.”
UK Foreign Secretary, Liz Truss, said: “We are working with allies and partners to finance clean and reliable infrastructure in developing countries. This new partnership with CDC and DP World will boost jobs and drive economic growth in these countries, helping improve millions of lives across Africa.”
We are blessed...
ZodiaK
VIP
DP World partners with CDC Group to create Africa investment platform
New platform to invest in ports and logistics across Africa
Initially includes investment in DP World assets of Senegal, Egypt and Somaliland
Dp World partners with CDC Group to create Africa investment platform
DP World has announced the creation of an investment platform in partnership with the UK's development finance institution and impact investor CDC Group (CDC).The platform covers a long-term investment period. DP World is contributing its stakes in three existing ports initially and expects to invest a further $1 billion through the platform over the next several years. CDC is committing approximately $320 million initially and expects to invest up to a further $400 million over the next several years. The transaction is subject to certain final regulatory approvals.
The platform will invest in origin and destination ports, inland container depots, economic zones and other logistics across Africa to increase trade, create new job opportunities and broaden access to essential goods. It will initially be seeded with minority stakes in existing DP World assets with significant capacity expansion plans, including Dakar (Senegal), Sokhna (Egypt) and Berbera (Somaliland). Trade enabled through the ongoing expansions is expected to create an additional 138,000 employment opportunities in the wider economy. By 2035, the ports are expected to support stable employment for around 5 million people indirectly.
DP World has more than 20 years of experience developing and operating ports and infrastructure and providing logistics solutions in Africa and globally. This transaction is aligned with DP World's strategy of partnering with organisations that offer complementary expertise and have a shared vision for enabling trade and driving economic and social development.
CDC is the UK's development finance institution and impact investor with over 70 years of experience successfully supporting the sustainable, long-term growth of business in Africa and South Asia. CDC is owned by the UK Government and has a dual objective to deliver development impact by supporting business growth that lifts people out of poverty and makes a financial return.
Sultan Ahmed bin Sulayem, Group Chairman and CEO, DP World, said: "We are excited to announce a partnership with CDC Group that will enable increased investment in ports and logistics infrastructure across Africa, driving efficiency and trade growth. The partnership will create transformational opportunities for tens of millions of people over the next decade.
"In CDC, we have found a partner with whom we share the common goal to invest in the long term and help build responsible and sustainable infrastructure in Africa, which is key to unlocking the trade potential of the continent.
"DP World is committed to Africa for the long-term and sees significant opportunity for future growth across the continent. The partnership with CDC offers the flexibility to accelerate and capitalise on these opportunities.
"By combining our in-depth knowledge of ports and logistics and CDC's expertise in infrastructure investment in Africa, we can drive greater supply chain efficiencies, provide improved trade connectivity and ultimately enhance value for all stakeholders."
Nick O'Donohoe, Chief Executive Officer, CDC, added: "Stable and flourishing economies are built on reliable access to global and intra-continental trade. Africa's full potential is limited by inadequate ports and trade bottlenecks, putting the brakes on economic growth in some of the world's fastest-growing economies and undermining social resilience in the least developed parts of the world. This platform will help entrepreneurs and businesses accelerate growth with access to reliable trade routes, and it will help African consumers benefit from the improved reliability and reduced cost of vital goods and food staples.
"We are proud to support DP World to do even more in Africa, charting a stronger course for African trade around the world."
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