DP World Announces Expansion Plans in Africa, Focuses on Senegal’s Economic Growth

15 Apr 2024
DP World Announces Expansion Plans in Africa, Focuses on Senegal’s Economic Growth

DP World intends to increase its investments across Africa, buoyed by favorable conditions such as political stability, effective governance, and the fulfillment of obligations by governments. Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, emphasized the company’s commitment to expanding its presence in nations exhibiting stability and reliability in fulfilling their commitments.


Bin Sulayem expressed DP World’s appreciation for Senegal’s political stability and economic growth, highlighting the uninterrupted operations despite political transitions. He cited Senegal’s transparent policies, particularly praising the country’s strategic development plan, Plan Senegal Emergent (PSE). This plan, coupled with Senegal’s annual growth rate of 5%, expected to rise to 6.2% the following year and 10% by 2026, further motivates DP World’s increased investment in the country.


The CEO underscored the importance of trust in government policies, emphasizing DP World’s confidence in Senegal’s governance. He also commended other African nations, such as Rwanda, for their economic achievements and lauded their commitment to good governance. DP World, he noted, operates in various African countries, including Senegal, Egypt, Mozambique, Somaliland, Rwanda, Algeria, and the Democratic Republic of Congo.


Bin Sulayem highlighted DP World’s evolution from a mere port operator to a global provider of comprehensive logistics solutions. This transformation is supported by the company’s extensive network spanning 60 countries and six continents, which includes ports, economic zones, feeders, and inland transportation assets. He mentioned the company’s focus on digitalizing trade and expanding through acquisitions of companies and railways.


In a recent development, DP World signed an agreement with the Senegalese government to develop a deep-water port at Ndayane, part of its 50-year concession for the Port of Dakar. The investment in the first phase amounts to US$837 million, with an expected follow-up investment of US$290 million in the second phase.