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Country

Nigeria

Sector

Infrastructure Components and Equipment

Senior Debt Provided

US$20 million

African Foundries have developed a steel mill in Nigeria that recycles scrap metal, turning it into “rebars”. These are used to reinforce concrete, which is used for a multitude of purposes when developing infrastructure, including dams, tunnels, ports and harbours, roads, airports, railways and large buildings like power stations and water treatment facilities.

The plant, which has the potential to employ 500 people, helps rid Nigeria of vast amounts of scrap metal that have accumulated over many decades. Producing c225,000 tonnes of steel annually, the output cuts Nigeria’s dependency on imports. The electricity to power the plant comes from a power station fuelled by natural gas that would be otherwise flared-off and wasted. EAIF provided a US$20 million loan to the project, which had a total transaction size of US$130 million.

Other projects

The Emerging Africa Infrastructure Fund has to date invested in 58 projects in 17 countries.

Water, power and transport for one of Uganda’s poorest regions

Country: Uganda / Sector: Power Transport Water & Waste Treatment

Kalangala is the capital of Bugala Island, the largest of the Sesese Islands on Uganda’s Lake Victoria. Since 2011 the EAIF has loaned US$7 million to two infrastructure projects with a total value of US$50 million. Land and water transport has been modernised.

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Dreamliners unlock Ethiopia

Country: Ethiopia / Sector: Transport

Ethiopia recorded steady high single figure growth in recent years. Land reforms, infrastructure investment and foreign direct investment in a number of sectors are all improving the economic outlook for one of the world’s poorest countries.

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Kenya Power and Lighting investment attracts commercial bank support

Country: Kenya / Sector: Power

Regarded as one of the best run utilities in Africa, Kenya Power and Lighting Company is investing US$150 million upgrading, extending and maintaining its electricity transmission and distribution system. The company retails power to all sectors of the Kenyan economy and across the country.

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