Gabon’s railway concessionaire, SETRAG, received a €52.5 million loan from the International Finance Corporation (IFC) to increase its capacity and improve the efficiency of the nation’s railway network.
The 650km-long network connecting Libreville to Franceville links the country’s iron and manganese mines to international markets. SETRAG will use the loan to increase its transport capacity while boosting its reliability.
“We are glad to provide consultative and financing services for the renovation of the Gabon’s network. This project will support efficient transport solutions through private sector actors, mining firms, goods dealer, thus facilitating industrial investment and economic growth in Gabon,” said Vera Songwe, IFC director West & Central Africa.
Moreover, the firm said it obtained in the same framework, a €32.5 million loan from Proparco, subsidiary of the French Development Agency which deals with private sector financing.
Behind South Africa, Gabon is the second largest manganese producer in the world.
Louis-Nino Kansoun
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
• Morocco to build 500 MW green-powered data center in Dakhla to boost cloud infrastructure• Part of Digital Morocco 2030, aiming for data sovereignty and...
• Uganda’s Zembo gets $1M from FMO to expand electric motorcycle rentals• Aims to cut pollution and boost youth jobs in Kampala• Needs support in...
After 15 years on the UNESCO List of World Heritage in Danger, Madagascar's Atsinanana Rainforests have officially been deemed safe. This decision marks a...
Standard Bank granted Paymenow a $22 million loan to expand its early wage access service in Southern Africa. Paymenow helps employees access...
Located about 40 kilometers from Cape Town’s city center, Boulders Beach in Simon’s Town is one of the Cape Peninsula’s most iconic destinations. This...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...