African Infrastructure Investment Managers is taking a 60% stake in DSM Corridor Group Tanzania, a specialist dry bulk terminal operator based in the Port of Dar es Salaam. The deal is being transacted via African Ports and Corridors Holdings, a strategic investment platform which will be used to acquire additional terminals and other corridor expansions in sub-Saharan Africa.
Cargo volumes handled through the Port of Dar es Salaam are forecast to triple from current levels by 2028 and the port and its surrounding infrastructure are set for extensive refurbishment using funds from the Work Bank, the UK’s Department for International Development and TradeMark East Africa. The port serves several landlocked countries in Eastern and South Eastern Africa including Zambia, Uganda, the DRC, Rwanda, Burundi and Malawi.
According to Jurie Swart, African Infrastructure Investment Managers’ CEO, a strong pipeline of dry bulk cargo investment opportunities is supported by the pressing need for greater efficiency at African ports and the development of private investment programs.
“This partnership represents an attractive opportunity to support the development of a pan-African infrastructure platform with a team that has demonstrated immense success in providing a world class service to bot reginal and global clients while ensuring a significant impact on economic and social development in our core markets,” he said.