The African Export-Import Bank (Afreximbank) has agreed to provide more than $370 million to help build infrastructure in various African countries, including Nigeria. This announcement was made at a special event in Lagos called the Intra-African Engineering, Procurement, and Construction (EPC) workshop. The event was designed to help African companies win and complete big construction projects.
Important agreements were made, such as giving $300 million to Egypt’s Hassan Allam, $45 million to Sierra Leone’s Pavifort Construction, and $25 million to Africa Cement in Burkina Faso. The workshop also discussed how Africa needs to spend $100 billion each year on infrastructure, but often, companies from outside Africa get most of these contracts.
Ayman El-Zoghby, Director of Afreximbank’s Intra-African Trade Bank, highlighted the bank’s dedication to fixing Africa’s infrastructure issues by offering financial help and chances to African contractors through the recently introduced Afreximbank-EPC Tenders Platform. This platform helps connect projects and encourages skill improvement, technology sharing, and partnerships between African and international companies.
The event also focused on working with local governments to create stable conditions, improve debt management strategies, and boost the global reputation of African contractors.
El-Zoghby said, “This workshop shows our commitment to improving Africa’s infrastructure by giving local contractors financial, technical, and risk management resources. By doing this, we not only fix the infrastructure problems but also promote economic growth, job creation, and regional cooperation.”
