Standard Bank concludes trailblazing deal with DP World

Moving goods worth millions annually, DP World is a leading logistics operator on the African continent with a predominant focus on six key sectors: healthcare, consumer, automotive, chemicals, industrial and commodities. 

Because Standard Bank has a long-standing relationship with DP World, getting this deal over the line was imperative to enable Imperial to continue delivering to some of the fastest growing and most challenging markets in the world. In order to support their growth in Africa, the tailormade multicurrency facility (MCF) caters to their short-term banking as well as long-term funding needs. It is considered the first of its type on the African continent. 

“The MCF facility is split between our transactional banking and investment banking products, with US$150 million allocated to a general banking MCF, which will consist of working capital, trade finance, documentary credit and other general banking solutions. US$215.1 million will be allocated to term loans and revolving credit facilities.”

“The nature of this facility emphasises the capabilities available within Standard Bank and our ability to provide seamless access to liquidity and financing solutions across the continent,”says Kenny Fihla, CEO, Standard Bank Corporate and Investment Banking.  “Standard Bank has a valued partnership with DP World, and we are proud to be the coordinators and lenders of this market-leading facility, which demonstrates our commitment and our strength in Africa”. 

The deal will apply in all African markets where DP World and Standard Bank have an overlapping presence. Effective collaboration between all parties and Standard Bank’s understanding of DP World’s business and Africa’s economies have cemented the bank’s position as the Group’s key relationship bank on the continent. 

“We are confident that this facility, which is regarded as market leading on the African continent, will be a game-changer for our logistics and market access growth ambitions in SSA", “We have once again chosen to partner with Standard Bank – a proudly African brand – due to the Bank’s ability to provide seamless access to liquidity and financing solutions across the continent, which aligns with DP World’s ambition of driving more efficient and sustainable trade across the region", says Mohammed Akoojee, CEO and MD for SSA at DP World.