Beitbridge border post gets SA bank loans for revamp

Beitbridge border post gets SA bank loans for revamp
By Roxanne Henderson and Ray Ndlovu
(Bloomberg) – Lenders including Standard Bank Group and FirstRand provided $130m (R1.8bn) of loans for an upgrade of Southern Africa’s busiest border crossing.
A syndicate of banks comprising Rand Merchant Bank, ABSA, Nedbank and Standard Bank availed part of the USD 300 million for the redevelopment of Beitbridge Boarder Post. This shows confidence in the Zimbabwe economy, and future growth in regional trade activity.
The financing for the Beitbridge border between South Africa and Zimbabwe includes the $130m commercial debt tranche arranged by FirstRand’s Rand Merchant Bank unit, Standard Bank, Absa Group and Nedbank Group, according to an article paid for by RMB and published by Johannesburg-based website BusinessLive. It also includes a $65m development-finance institution tranche from Afreximbank and the Emerging Africa Infrastructure Fund.

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