UK agency commits $35mln to develop Congo’s container port with DP World

British International Investment (BII), the development finance institution of the UK government, is investing up to $35 million alongside Dubai-based port operator DP World in developing a container port in the Democratic Republic of the Congo.

Work on enhancing the Port of Banana into Congo's first deepwater container port follows similar partnerships between BII and DP World, beginning with the modernisation and expansion of ports in Dakar (Senegal), Sokhna (Egypt) and Berbera (Somaliland). As with the other ports in the partnership, the BII will be a minority investor in the new port.

The Port of Banana is expected to become the single gateway container trade in Congo, cutting cost of trade by 12%, according to a joint statement by the investors on Monday.

DP World plans to invest $3 billion in the next three to five years in building new port infrastructure across Africa, according to a Bloomberg report earlier this year.

'The mentality is changing': The awakening of Algeria's tourism industry

"Unforgettable." That is how Laura Ioana Isac, a 33-year-old globetrotter from Romania, described her trip to Algeria. She visited the North African country last April for 18 days, exploring eight cities and?venturing into the desert.

Algeria had been on Isac’s travel bucket list for years. Its?lack of popularity?as a tourist destination only added to its appeal.?

"Algeria caught my attention years ago as the largest African country and for being less touristy, primarily due to the visa process. I searched online but found limited blogs or vlogs about it. However, the few I did find impressed me with the country’s diversity and beauty," she told Middle East Eye.

Isac's curiosity about Algeria grew further when she met two Algerian women during a trip to Senegal. They provided her with more information about the country and encouraged her to take the leap.

They sent her an invitation letter, which she included in her visa application, and helped her plan the trip before welcoming her to Algiers [...]

Beyond the cultural diversity and varied landscapes, Isac was most struck by the people, whom she described as "the essence of Algeria".

MEE

Libya Power Struggle Builds as Central Bank Pulled Into Dispute

Libya’s central bank said Monday it was resuming operations, defying a decision to replace its governor and board in a move that could further imperil an already-fragile cease-fire deal between the OPEC nation’s rival governments.

The bank, in a statement, said that Governor Sadik Al-Kabir had met with senior managers as part of the regulator’s decision to resume operations after the kidnapping of a senior employee led it to announce it was halting work. The statement, posted on its Facebook page, made no mention of a decision by the internationally-recognized Presidential Council in Tripoli to replace the bank’s chief and its board, but noted that it was back to work after the employee was freed.

The bank’s decision to suspend work had the potential to worsen the already dire political situation in the North African nation after the east-based legislature last week said it was pulling out of a 2020 cease-fire deal between Libya’s rival governments. Adding to the tension was the closure of the country’s largest oil field.

Bloomberg