DP Worlds development of Banana port will bring many economic benefits to the DRC
The development of the Democratic Republic of the Congo’s first deep seaport at Banana near Moanda in the Kongo Central Province is critical to enhancing the country’s access to international markets and global supply chains.
This will enable the DRC to have its own deep sea port, just like its neighbours and give the country sovereignty over its trade.
The benefits of the port and industrial zone being developed by DP World are many, from creating direct and indirect jobs, to opening new opportunities for entrepreneurs and businesses, easier and quicker access to goods, increased exports, and attraction of further investment, making the DRC an important trade player in the region. The Government’s upgrade of the key road between Boma and Moanda will also massively contribute to economic development, enabling communities along this corridor, and the wider region, to thrive and prosper. Also, a large number of local companies will be involved in the construction work and will benefit from the economic impact of the project.
DP World Banana Port, will have a 600m quay with an 18m draught once complete, enabling it to accommodate the largest container vessels sailing the world’s oceans, leading to more direct calls from these vessels travelling from Asia and Europe.
Establishing DP World Banana Port as the Single Window Gateway in the country for import and exports of goods transported in containers by sea is one of the key components of the Concession Agreement.
In practice, this means that companies operating in the logistics and supply chain industry, are connected to all the various role-players in the pre-clearance, customs clearance, and post-clearance chain via a single electronic interface at the port.
It has many benefits for the DRC , customs administration, businesses, and the country's economy, by making trade faster, cheaper, simpler, more transparent, secure, and predictable. It will improve, harmonize, simplify, and accelerate processes to facilitate international trade, with the full cooperation of all relevant DRC services. Banks, custopm offices, inspections, and all entities involved in the processing of imports and exports will be in one place - a one stop shop. This will ensure the quick and efficient performance in the port of all administrative controls and formalities relating to the imports and exports of containerised goods by sea.
DP World Banana port benefits include:
1. Improved administration of imports and exports: The DRC government will have better control of the conformity of transactions with trade standards, more efficient allocation of resources, better visibility of trade statistics and increased revenues.
2. Security: The DRC will not be reliant on the port infrastructures of other countries. During the COVID-19 pandemic, the DRC experienced supply difficulties at times, however the single gateway at the port of Banana will remove this risk as the DRC authorities will have their own port and control.
3. Economy: The single gateway at the port of Banana will allow the country to make significant savings. If all activities occur on DRC territory, there will be no need to send foreign currency abroad to pay for transhipment services. Trade will increase trade through direct calls from large vessels.
4. Trade: The country will be able to process maritime trade more quickly and efficiently, thus gradually increasing the volume of trade and its foreign exchange. Traders will benefit from shorter clearance times, more transparent procedures, improved visibility, and less bureaucracy. The customs administration will gain productivity and professionalism and have better synergy with other administrations. The economy of the DRC, in general, will benefit from improved transparency and governance.
The Single Gateway at DP World Banana port will unlock the full potential of the country’s trade capabilities, and be a catalyst for job creation, foreign direct investment, and economic growth.