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The key to African economic emergence lies in removal of barriers, increased connectivity between nations and infrastructure development, DP World’s Group (https://www.DPWorld.com) Chairman and Chief Executive Officer, Sultan Ahmed Bin Sulayem, told African leaders and top executives in Dakar Senegal.
“We be believe in the viability of Africa, we believe in investing in the continent during our investment in Senegal we improved efficiency and volumes 135 percent in 10 years,” Mr Bin Sulayem told the audience at the Africa Emergence Conference 2019 in Dakar Senegal.
Addressing a panel on how private institutions can help support emergence in Africa with President Macky Sall of Senegal and Prime Minister Mahatir Mohammed of Malaysia Mr Bin Sulayem explained how economic emergence is dependant on increasing inter African trade and infrastructure development.
“The Removal of trade barriers is very important. In Africa tariffs are 50% higher in than in Latin America and Asia,” he said. “Intra regional trade in Africa is only 12% while in Europe, Asia and Latin America is over 50%, we need to improve this to prosper,” he added.
Mr Bin Sulayem reiterated the company’s commitment to supporting the economic growth of Senegal and developing Dakar into a major logistics hub and gateway for West Africa during the panel with President Macky Sall.
He stressed that as a smart trade enabler, DP World has the extensive expertise and know-how that can help African countries realise their trade and infrastructure goals, while assisting countries to address national ports and logistics infrastructure challenges.
He highlighted the importance of developing a logistics infrastructure reflecting DP World’s activities in Rwanda and Mali.
“We believe in connecting landlocked nations to the world and international markets. Our logistics park in Rwanda will reduce costs across the country and region,” he said. “The Price of container moving from Shanghai to an East African port is anywhere between USD $500 to USD$1000, the price of same container from the port to Kigali is USD$5000,” he added
President Macky Sall of Senegal said to the Audience that DP World helped in the development of Senegal.
“What the CEO said is the truth, in Senegal we have experienced a change because DP World was present before I became President with a concession of 25 years at the Port of Dakar,” he said.
President Sall added that the government, has a consolidation of DP World’s presence and are working together finalise new port investments by DP World in Senegal.
“Country stability is essential but also the stability of the contracts between the a state and the private sector to develop foreign investment. It is evident that the public investment cannot satisfy the basic needs of the population so we need to work with private sector,” he added.
DP World has operations in Senegal, Egypt, Mozambique, Somaliland, Rwanda and Algeria and has recently signed an agreement with the Republic Mali to develop a logistics platform and the Democratic Republic of Congo for the countries first deep-sea port.
Distributed by APO Group on behalf of DP World.For DP World media enquiries please contact:
Sanaa Maadad
Corporate Communications Manager
DP World
Tel: +971 505522610
sana.maadad@dpworld.com
Awad Mustafa
Communications Manager, MEA Region
Tel: +971 56 4185485
awad.mustafa@dpworld.com
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About DP World:
DP World (www.DPWorld.com)[1] is a leading enabler of global trade and an integral part of the supply chain. We operate multiple yet related businesses – from marine and inland terminals, maritime services, logistics and ancillary services to technology-driven trade solutions.
We have a portfolio of 78 operating marine and inland terminals supported by over 50 related businesses in over 40 countries across six continents with a significant presence in both high-growth and mature markets. We aim to be essential to the bright future of global trade, ensuring everything we do has a long-lasting positive impact on economies and society.
Our dedicated team of 45,000 employees from 103 countries cultivates long-standing relationships with governments, shipping lines, importers and exporters, communities, and many other important constituents of the global supply chain, to add value and provide quality services today and tomorrow.
Container handling is the company’s core business and generates more than three quarters of its revenue. In 2017, DP World handled 70.1 million TEU (twenty-foot equivalent units) across our portfolio. With its committed pipeline of developments and expansions, the current gross capacity of 88.2 million TEU is expected to rise to more than 100million TEU by 2020, in line with market demand.
By thinking ahead, foreseeing change and innovating we aim to create the most productive, efficient and safe trade solutions globally.
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