(Bloomberg) -- DP World plans to spend $3 billion over the next three to five years on new port and logistics infrastructure in Africa to meet long-term...
-- DP World plans to spend $3 billion over the next three to five years on new port and logistics infrastructure in Africa to meet long-term growth that includes surging demand for critical mineral exports.“The cost of logistics and supply chain across Africa is very high relative to other global markets,” which presents a good opportunity, Mohammed Akoojee , DP World’s chief executive officer and managing director for sub-Saharan Africa, said in an interview on Bloomberg Television.
A booming market for critical minerals including copper from Zambia and the Democratic Republic of Congo are helping drive the need for greater logistics capacity, Akoojee said. “We’ve seen demand increasing over the last few years, largely driven by the whole electrification drive globally and the demand for commodities like cobalt, lithium.”DP World ’s Africa unit has 27,000 workers and covers ports, terminals, logistics and supply chain businesses.
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