DP World has signed a memorandum of understanding with ITOCHU, one of Japan’s largest trading corporations, to jointly develop logistics, supply chain infrastructure and distribution in sub-Saharan Africa. The agreement was signed during the TICAD9 conference in Yokohama with the participation of DP World’s Chief Operating Officer for Logistics, Beat Simon, and ITOCHU’s top managers.
The companies intend to develop new projects aimed at increasing the connectivity of African markets and expanding access for Japanese businesses to them. Initial plans include improving the operation of vehicle fleets and logistics networks, optimizing supply chains, as well as the distribution of raw materials and food products.
Today, DP World already operates in 48 countries in Africa, owning a network of ports, terminals, warehouses and vehicle fleets, and its investment in infrastructure exceeds $3 billion with an additional $3 billion planned for the coming years. This collaboration with ITOCHU, which has extensive experience in trading raw materials, machinery, food and consumer goods on the continent, creates new opportunities for growth in African and global markets.