Itochu Africa logistics deal
DP World has signed a memorandum of understanding with the Japanese Itochu Corporation to expand logistics and supply chain infrastructure in sub-Saharan Africa.
The deal was announced at 'Ticad9' in Yokohama by Beat Simon, DP World’s group COO for logistics, and Itochu executives. Both firms will explore opportunities in fleet and logistics operations, supply chain optimisation, and distribution of commodities and food products to support Japanese businesses entering African markets.
DP World already operates in 48 African countries and has invested over USD 3 billion in infrastructure, with a further USD 3 billion planned in the next five years. Simon said that the mou aims "to create deeper connections between Africa and Japan." (js)