South African PE Firms, Lenders Back $600 Million Congo Dry Port

South African private equity firms and lenders will invest $600 million in debt and equity on a dry port in the Democratic Republic of Congo to ease congestion on one of Africa’s busiest mineral corridors.

Yellowstone, a South African group that won a 20-year concession to design, build and operate the dry port, will raise debt with top South African lenders such as Standard Bank Group Ltd. and Nedbank Group Ltd. Others including Ninety One Ltd. and Africa Export-Import Bank will also participate in the deal that comprises 77.5% debt, project head Francois Diedrechsen said.