Afreximbank signs €175mln with Mota-Engil Africa

The African Export–Import Bank (Afreximbank) has signed on Sunday a dual tranche term loan facility worth €175 million with Portuguese contractors Mota-Engil Africa, to meet investment obligations into the Lobito Atlantic Railway.

In November 2022, the Government of Angola entered into a Concession Agreement with a consortium comprising Mota-Engil and its partners in respect of rehabilitation, expansion and development of the Lobito Railway Line.

This line will connect the Angolan Port City of Lobito to the Tanzanian Port City of Dar Salaam through the Copperbelt region of Zambia and the Democratic Republic of Congo.

Ayman El-Zoghby, acting director Intra-African Trade Bank (Trade, Corporate and Investment Finance), Afreximbank, has signed the agreement with Jose Carlos Nogueira – Group Chief Financial Officer at Mota-Engil.