RMB secures major deal for Nigeria-Niger railway project
Rand Merchant Bank (RMB) has finalized a significant cross-border infrastructure financing deal to support the Kano-Maradi railway project, connecting Nigeria and the Niger Republic. The bank played a central role in arranging $1.8bn for the Ministry of Finance to develop, construct, and commission the 374km railway. Chidi Iwuchukwu and Enyinna Anumudu of RMB Nigeria highlighted the importance of the project and the bank’s collaboration with partners like Mota-Engil Africa. The initiative aims to boost regional trade, economic growth, and connectivity.
TLDR
- RMB acted as Global Coordinator and initial Mandated Lead Arranger for $1.8bn in funding for the Kano-Maradi railway project.
- The project covers 374km, linking Nigeria to the Niger Republic and supporting regional integration.
- Key partners include the Ministry of Finance, Mota-Engil Africa as EPC contractor, and the Africa Finance Corporation.
- The railway is expected to stimulate trade, diversify transport options, and contribute to Nigeria’s emissions reduction target.
- The deal involved complex processes and multiple institutions, with RMB managing execution and due diligence.
