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Partnerships key to improving Africa’s economy, says DP World Chairman / CEO

…Removal of
trade barriers, connecting nations and infrastructure development key to the

The key to Africa’s economic
emergence lies in removal of barriers, increased connectivity between nations
and infrastructure development,  DP
World’s Group  Chairman and Chief Executive Officer, Sultan Ahmed Bin
, told African leaders and top executives in Dakar Senegal recently.

“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 per
cent in 10
years,” Mr. 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.Sulayem explained how
economic emergence is dependent 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.

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
to finalise new port investments by DP World in

“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.

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