MONEYWEB
app instead?
A sign of investor confidence in Zimbabwe’s economic prospects, says
its finance minister.
By Roxanne Henderson and Ray Ndlovu, Bloomberg
14 Feb 2021 19:21
On average about 25 000 people pass through Beitbridge daily, according to Zimbabwean officials. Image: Guillem Sartorio/AFP/Getty Images
Lenders including Standard Bank and FirstRand have provided $130 million (R1.9 billion) of loans for an upgrade of southern Africaâs 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 [Border] Post. This shows confidence in the Zimbabwe economy, and future growth in regional trade activity.
beit
Lenders have provided $130 million in loans for an upgrade of the Beitbridge border between South Africa and Zimbabwe, according to BusinessLive.
This includes commercial debt tranche arranged by FirstRand s Rand Merchant Bank unit, Standard Bank, Absa and Nedbank.
The Beitbridge crossing was closed for most traffic last month to stop the spread of the coronavirus.
Lenders including Standard Bank and FirstRand provided $130 million of loans for an upgrade of Southern Africa s busiest border crossing.
The financing for the Beitbridge border between South Africa and Zimbabwe includes the $130 million commercial debt tranche arranged by FirstRand s Rand Merchant Bank unit, Standard Bank, Absa and Nedbank, according to an article paid for by RMB and published by Johannesburg-based website BusinessLive.
The Humber Bridge, near Kingston upon Hull, East Riding of Yorkshire, England, UK
RMB’s $300m Beitbridge border post modernisation project, which recently reached a financial close, involved the upgrade and rehabilitation of the Zimbabwean side of the Beitbridge border post, under a 17-and-a-half-year concession granted by the Zimbabwean government to La Frontiere.
RMB has acted as financial adviser to La Frontiere since 2018, and later took on the roles of joint mandated lead arranger and hedging bank for the project. We partnered with five other financial institutions in structuring the transaction.
The deal has come at a time when infrastructure development and public-private partnerships (PPPs) are more critical than ever to stimulate economic growth. As the leading investment bank in the African concessions and PPP sector, we felt confident that we could provide a tailored solution despite the challenges.
South African Banks Provide Funding for Beitbridge Border Revamp thezimbabwemail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thezimbabwemail.com Daily Mail and Mail on Sunday newspapers.