• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Thursday, June 26, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Afreximbank, Ghana Sign Railway Pact, To Reduce Transport Cost By 30%

by Bukola Idowu
2 years ago
in Business
Afreximbank
Share on WhatsAppShare on FacebookShare on XTelegram

African Export-Import Bank (Afreximbank) and Ghana Railway Company, the national railway operator of Ghana, has signed a project preparation facility Head of Terms agreement and Pre-Mandate Letter to finance the development and implementation of an integrated 299-kilometer standard gauge railway network that connects Ghana’s western corridor to the Port of Takoradi and provides an essential link to external markets.

Advertisement

The planned railway project is expected to see the cost of transportation reduce by 30 percent on completion.

The heads of terms agreement was signed on Friday by , executive vice president, Intra-African Trade Bank at Afreximban, Kanayo Awani, and , managing director, Ghana Railways Company Limited, Michael Anyetei.

Under the Heads of Terms of the project preparation facility, the Bank will avail early-stage project preparatory funding to finance the preparation of bankable feasibility studies. The Pre-Mandate Letter appoints Afreximbank to perform certain tasks in advance of the project attaining bankability aimed at raising the debt facility amount, currently estimated at US$ 2.1 billion.

Under the terms of the agreements, signed during the Afreximbank Annual Meetings (AAM2023), Afreximbank committed to prescribe financial solutions, including project preparatory support, project financing, syndication and financial advisory services, and risk bearing instruments, to enable the project attain a timeous financial close.

RELATED

Local Energy Firms To Drive Nigeria’s Oil & Gas Dev’t

Local Energy Firms To Drive Nigeria’s Oil & Gas Dev’t

14 hours ago
Keystone Bank, Enterprise Dev’t Centre Sign MoU To Empower SMEs In Nigeria

Keystone Bank, Enterprise Dev’t Centre Sign MoU To Empower SMEs In Nigeria

17 hours ago

The Bank believes that pursuing railway investments along the continent’s trade corridors would expand existing capacities and create new routes, links and pathways for value-added goods to be transported from manufacturing and processing areas to regional and global markets, thereby promoting intra-African trade within the AfCFTA context. This is evidenced by new mining projects and expansion of existing mining projects being planned in the country that stand to benefit from the project through more efficient and competitive transportation of imports and exports thereby boosting trade, regional integration and overall economic development.

Benedict Oramah, president and chairman, Board of Directors of Afreximbank, said, “The Western Railway Corridor project is a vital transport network for Ghana, and Afreximbank’s support is in line with our commitment to help member countries address key trade-enabling infrastructure bottlenecks through private sector-led investments that will unlock significant pent-up demand for Ghanaian mineral and agricultural commodities in regional and international markets. Am particularly thrilled that in this project, Afreximbank and its partners are pioneering our innovative non-recourse project finance solution premised on freight volumes and not member countries’ debt-carrying capacity. 

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Afreximbank
SendShareTweetShare
Previous Post

Anti-graft War: Asset Valuation, Declaration To The Rescue

Next Post

Subsidy Removal: LAPO MFB Raises Staff Salaries By 25%, 12.5%

Bukola Idowu

Bukola Idowu

You May Like

Local Energy Firms To Drive Nigeria’s Oil & Gas Dev’t
Business

Local Energy Firms To Drive Nigeria’s Oil & Gas Dev’t

2025/06/25
Keystone Bank, Enterprise Dev’t Centre Sign MoU To Empower SMEs In Nigeria
Business

Keystone Bank, Enterprise Dev’t Centre Sign MoU To Empower SMEs In Nigeria

2025/06/25
Afreximbank
Business

Dangote Cement Records N1.38trn Earnings, Up By 56%

2025/06/25
Neimeth Assures Shareholders Of Improved Performance
Business

Neimeth Assures Shareholders Of Improved Performance

2025/06/25
NAPTIN Earmarks 4,000 Youths For Meter Installation Training
Business

NAPTIN Earmarks 4,000 Youths For Meter Installation Training

2025/06/25
Nigeria, South Africa Forge Stronger Energy Ties To Boost Continental Grid Integration
Business

Nigeria, South Africa Forge Stronger Energy Ties To Boost Continental Grid Integration

2025/06/25
Leadership Conference advertisement

LATEST

NIPERA Will Regulate Maritime Sector, Protect Investments – Dr Akutah

UNICEF, Kwara Organise Maternal, Neonatal And Child Health Week

Kwara Cabinet Okays Returns Of Public Properties As Harmony Holdings Winds Down

4 Out Of 10 Undergraduates Are Into Drugs – NDLEA

The Plight Of Industrial Centres

Pollution: 14m Tonnes Of Plastic Obstructing World’s Oceans Annually – Minister

IBB Seeks Strong Voices To Defend Northern Interests

Running Mate: I Will Do Whatever President Wants In 2027 – Barau

Party Registration: Coalition Faces Hurdle Over Name Clash

Disruptions Loom In Oil, Gas Sector Over Helicopter Landing Fee

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.