DP World, a logistics company headquartered in the UAE, has sealed a $365 million facility agreement with Standard Bank, a South African bank and financial services company, to facilitate its expansion in sub-Saharan Africa (SSA). The multi-product, multi-jurisdiction, and multi-currency facility will support DP World's banking and term-funding requirements across SSA markets where both companies operate. DP World expressed confidence that this agreement will be a catalyst for its logistics and market access growth in SSA. DP World's partnership with Standard Bank complements its ongoing investment and development efforts across the continent. In May of this year, DP World initiated a trade finance partnership with Standard Bank to help address unmet demand for working capital among African companies.
The renewed partnership with Standard Bank positions DP World to further its logistics and market access expansion plans in sub-Saharan Africa. DP World's collaboration with Standard Bank demonstrates their shared commitment to advancing trade and investment in the region.