The African -Export Import Bank (Afreximbank), and Thelo DB, a South Africa-based incorporated partnership, signed a memorandum of understanding to develop, finance and operate railway projects in Africa.
Under the MoU, Afreximbank and Thelo DB will collaborate to support the modernisation of the continent’s railways as a catalyst to promoting trade, investment and economic skills development, recognising the urgent need for implementation of efficient and effective transportation and logistics solution in Africa, with particular emphasis on the freight railway sector.
“It is imperative that critical trade enabling infrastructure be put into place to facilitate the flow of tradeable goods and services along Africa’s trade corridors,” Benedict Oramah, the President of Afreximbank, said.
Thelo DB is committed to deliver its know-how and experience in the African railway sector, providing railway infrastructure development, operational cooperation and construction supervision. This will be done by implementing and rehabilitating the existing infrastructure, enhancing operational efficiencies and managing risks associated with rolling stock while transferring skills through training and skills development programmes.
“Through this critically important relationship, we are able to offer to the continent, not only the best technical solutions for the railway sector but also introduce financing solutions to finance railway projects across the continent,” said Ronnie Ntuli, the Chairman of Thelo DB Board.