The recent African Export-Import Bank (Afreximbank) Intra-African Engineering, Procurement, and Construction (EPC) workshop in Lagos has secured over $370 million in signed deals, marking a significant step in empowering African contractors to lead in large-scale infrastructure projects across the continent.
The workshop facilitated key agreements, including a $300-million Global Facility agreement for Egypt’s Hassan Allam Construction, a $45-million term sheet for Sierra Leone’s Pavifort Construction, and a $25-million term sheet for Afric Cement of Burkina Faso.
These deals are part of Afreximbank’s efforts to close Africa’s $100 billion annual infrastructure gap, which has historically seen contracts awarded to non-African firms.
Ayman El-Zoghby, Director of Afreximbank’s Trade and Corporate Finance Unit, highlighted the bank’s efforts to empower local contractors to bid on and secure large-scale infrastructure projects.
He introduced the Afreximbank-EPC Tenders Platform, which connects African contractors with project opportunities, providing them with critical financial and technical support.
His words: “We are committed to transforming Africa’s infrastructure landscape by equipping local contractors with the financial and technical tools to compete effectively.
“This effort not only addresses the infrastructure gap but also fosters sustainable economic growth, job creation, and regional integration, strengthening Africa’s position in the global EPC market.”
The event brought together 180 participants from West Africa, Egypt, Angola, and Uganda, including EPC firms, financial institutions, law firms, and government officials.
Key topics included strategies to enhance local content, financing solutions, and opportunities for African firms in the EPC sector.
Leaders at the workshop, including Lagos State Government officials and Nigeria Customs representatives, discussed Afreximbank’s role in capacity building and fostering partnerships to strengthen Africa’s construction sector.
Moctar Mando, Chairman of COGEB Group International, expressed gratitude for the bank’s $25 million financing for Afric Cement, while Alimu Sanu Barrie, CEO of Pavifort Al Associates, highlighted the transformative impact of the $45 million term sheet for Sierra Leone’s infrastructure development.
Eng. Mahmoud El Essawy, Managing Director of Hassan Allam Construction, emphasized the critical role Afreximbank plays in overcoming challenges in Africa’s EPC sector.
“The $200 million facility, recently increased by $100 million, has been instrumental in supporting our efforts to promote economic growth and resilience across the continent,” he noted, applauding Afreximbank’s dedication to providing essential funding and capacity-building support.
Officials say the workshop is part of Afreximbank’s vision for a self-sustaining African infrastructure sector, setting the stage for future workshops and initiatives aimed at driving growth and improving African contractors’ roles in the continent’s construction landscape.
