RMB has facilitated a significant infrastructure development by acting as the Global Coordinator and initial Mandated Lead Arranger for a USD 1.8 billion financing package. This funding is designated for the Ministry of Finance in Nigeria and will support the development, construction, and commissioning of the 374km Kano-Maradi railway project.
This critical transport link aims to connect Nigeria with the landlocked Niger Republic, thereby unlocking regional trade and fostering economic growth. The project is expected to enhance regional integration, diversify transportation modes, and support key economic sectors.
The RMB team worked closely with the Ministry of Finance to secure funding from a diverse range of sources, including development financial institutions and local currency financiers. Chidi Iwuchukwu, Executive Director and Head of Investment Banking RMB Nigeria, highlighted the transaction's importance in connecting regional entities and supporting trade and development.
Iwuchukwu further noted the RMB team's expertise in cross-border African transactions, particularly in arranging transport assets under EPC+f arrangements for sovereign borrowers. Enyinna Anumudu, Senior Dealmaker and Head Infrastructure Finance RMB Nigeria, acknowledged Mota Engil Africa as a key EPC contractor and partner for RMB Infrastructure Sector Solutions.
The Kano-Maradi Railway Project is anticipated to stimulate trade between Niger and Nigeria and contribute to Nigeria’s 2050 emissions reduction target of 94%. RMB leveraged its multi-disciplinary capabilities, with Syndications and Structured Solutions teams collaborating with Infrastructure Sector Solutions to deliver a comprehensive funding solution.
RMB also collaborated with the Africa Finance Corporation, a crucial financing partner, throughout the three-year execution of this complex transaction. The deal involved multiple institutions and rigorous processes, requiring substantial resources from RMB to manage due diligence, KYC, and onboarding requests from various lenders.
RMB expressed pride in its role as Global Coordinator and Initial Mandated Lead Arranger, emphasizing that the financing and collaboration among parties will facilitate transformative, cross-regional trade relationships.
About RMB Nigeria Limited
RMB Nigeria Limited, a member of the FirstRand Group, is a leading African Corporate and Investment Bank. It offers clients innovative, value-added solutions in advisory, funding, trading, corporate banking, and principal investing. More information can be found at www.rmb.com.ng.
