Namibia: African Development Bank approves $196 million loan to modernize railway infrastructure

The loan, approved on 31 October 2023, represents 51.8 percent of the project’s total cost The Board of Directors of the African Development Bank Group has approved a loan of $196.43 million for Namibia to implement the second phase of its Transport Infrastructure Improvement Project (TIIP).   The loan, approved on 31 October 2023, represents 51.8 percent of the project’s total cost. The Namibian government will provide the remaining 48.2 percent. The project aligns with Namibia’s long-term Vision 2030 to the country’s Namibia’s logistics value chain by tackling railway infrastructure…

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AFRICA ROAD BUILDERS : Madagascar’s President Andry Rajoelina named winner of 2023 Babacar Ndiaye Super Prize

The Africa Road Builders Selection Committee has named Madagascar’s President Andry Rajoelina, the winner of the prestigious Babacar Ndiaye Trophy, for his commitment to infrastructure development in the island state. He succeeds Tanzanian President Samia Suluhu, who won the award in 2022 (https://apo-opa.info/3B0mAAl).   According to a press release by the Committee, members chose President Rajoelina at a meeting held in Dakar on 28 April 2023, “for his personal leadership, commitment and investment to provide Madagascar with mobility infrastructure fully aligned with the Sustainable Development Goals.”   The committee cited…

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Kenya: African Development Bank approves $30 million Trade & Small and Medium Enterprises (SME) Finance Facility for Family Bank Limited

The Board of Directors of the African Development Bank Group  has approved a $30 million Trade & SME Finance Facility for Family bank Limited (FBL) in Kenya. The facility is expected to boost intra-Africa trade, promote regional integration and contribute to the reduction of the trade & SME finance gap in the East African nation.   The facility will provide a Trade Finance Line of Credit to support FBL’s short-term trade finance activities, a Transaction Guarantee, which will provide a risk-covered strategic platform to enable confirmation of trade transactions originating…

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Kenya: African Development Bank approves $150 million for Nairobi-Nakuru-Mau Summit Highway Project

The Board of Directors of the African Development Bank Group approved approved on July 14, 2022, in Abidjan, financing of $150 million to Kenya to support a major highway development project under the government’s First Mover Public-Private Partnership (PPP) programme. The project will see the development of the A8 and A8 South highways. The existing 175km A8 road from Rironi to Mau Summit will be transformed into a four-lane carriageway and the 57.8 km two-lane A8 South, from Rironi to Naivasha will be strengthened and maintained over a period of…

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