The Government of Dubai has appointed Essa Kazim as the new chairman of DP World, a multinational holding a strategic stake in the management of the Port of Maputo and steadily increasing investments in Mozambique’s port system, in a move aimed at safeguarding a global asset valued at $19 billion. The change comes days after the resignation of former CEO Sultan Ahmed bin Sulayem financier Jeffrey Epstein, which led two international funds to temporarily suspend relations with the company.
According to Bloomberg, the leadership succession was swift. In addition to Kazim’s appointment as chairman, Yuvraj Narayan was named the new CEO of the port operator, in a clear attempt to restore market confidence and reassure international partners.
The reaction was immediate. Canadian pension fund Caisse de Dépôt et Placement du Québec announced it would resume its partnership with the company. British International Investment, a UK development finance institution valued at $13.6 billion, also confirmed the reactivation of cooperation with DP World.
Essa Kazim is one of the most influential figures in Dubai’s financial sector. She oversees the Dubai International Financial Centre, which hosts approximately 8,800 companies and has established itself as a regional platform for hedge funds and international financial institutions. She also chairs Borse Dubai and was part of the leadership of the Dubai Financial Market until November 2021.
Beginning her career in 1988 at the Central Bank of the UAE, Kazim later moved to the Department of Economic Development, where she held leadership roles in planning and development. Over the years, she has built a reputation as a discreet but effective manager, often associated with overseeing complex and sensitive processes. Her influence was particularly evident when the Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, appointed her to chair a special judicial committee overseeing the Majid Al Futtaim conglomerate’s inheritance, also valued at $19 billion, following the founder’s death in 2021.
DP World remains a pivotal player in Dubai’s economy. The company operates in 83 countries, employs over 119,000 workers, and manages strategic port infrastructures, including the Middle East’s largest port, Jebel Ali, as well as London Gateway in the UK, and various logistics assets in the US and Africa.
In 2020, the Dubai government delisted the company to reduce debt burdens and avoid a repeat of the 2009 financial crisis, which required a government bailout.
Kazim’s appointment is seen as a clear signal that Dubai aims to preserve the stability and international reputation of one of its economic pillars, at a time when investor confidence is crucial for DP World’s global operations.
In recent years, DP World has consistently strengthened its presence in Mozambique, particularly through expansion and modernization projects at the Port of Maputo, positioning the country as a leading logistics hub in Southern Africa. In 2025, the group committed to doubling the container terminal capacity, deepening the draft to 16.5 meters, making it the region’s deepest port and boosting international trade through Mozambique in close coordination with the government and Daniel Chapo.
This includes significant investments to increase operational efficiency, create jobs, and better integrate the country into regional and global supply chains. Over more than two decades of involvement in Mozambique’s port system, DP World has strengthened the national economy and highlighted Maputo’s strategic importance to the company’s global logistics plans, giving added relevance to the recent leadership appointment in Dubai following international corporate turbulence.
Source: Diário Económico
