Rand Merchant Bank has concluded a landmark cross-border infrastructure project deal to finance critical regional transport assets from Nigeria to the Niger Republic.
The bank acted as the Global Coordinator and initial Mandated Lead Arranger for the provision of $1.8bn to the Ministry of Finance for the development, construction and commissioning of the 374km Kano-Maradi railway project.
The project team, according to the bank’s statement, worked alongside the ministry to arrange funding from multiple sources, including development finance institutions and local currency financiers.
The Executive Director and Head of Investment Banking at RMB Nigeria, Chidi Iwuchukwu, said, “This pivotal transaction connects regional entities, supporting trade and development in the region. The RMB team demonstrated its skill in cross-border African transactions, arranging transport assets under EPC+f arrangements for sovereign borrowers.”
Also speaking, the Senior Dealmaker and Head of Infrastructure Finance at RMB Nigeria, Enyinna Anumudu, noted that Mota-Engil Africa remained a
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