|21 January, 2020

DP World CEO 'very bullish' on Africa growth

"Look at Egypt, for example. With good policies, with sound policies, there is growth and that mirrors our expansion"

Sultan Ahmed bin Sulayem, Chairman and CEO of DP World, speaks during a Reuters interview in Kigali, Rwanda October 21, 2019.

Sultan Ahmed bin Sulayem, Chairman and CEO of DP World, speaks during a Reuters interview in Kigali, Rwanda October 21, 2019.

REUTERS/Clement Uwiringiyimana

Sultan Ahmed bin Sulayem, CEO of Dubai-based port operator DP World, said that he sees growth opportunities in Africa.

In an interview with Bloomberg TV at Davos, Sulayem said: "I am very bullish about Africa, which shows good signs overall. Look at Egypt, for example. With good policies, with sound policies, there is growth and that mirrors our expansion. We are expanding double the capacity of our port in Sokhna in Egypt."

DP World has opened a dry port in Rwanda and expects it to become a hub for cargo that will come from Dar-es-Salaam and Momabsa, he said.

On the recent tensions in the Middle East, he said: “It’s not something permanent. It’s something that happens, and everybody gets excited, but people move on.”

(Writing by Seban Scaria seban.scaria@refinitiv.com, editing by Daniel Luiz)

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2020

More From Business