RMB Secures $1.8B for Kano-Maradi Railway Project

Rand Merchant Bank (RMB) has successfully closed a $1.8 billion financing deal for the Kano-Maradi railway project, which is one of the largest rail investments linking Nigeria with the landlocked Republic of Niger. RMB served as the global coordinator and lead arranger for this transaction, collaborating with Nigeria's Ministry of Finance to mobilize funds from local currency lenders.

The railway spans 374 kilometers and is expected to significantly enhance regional trade integration, economic growth, and diversify transport modes in the region. Chidi Iwuchukwu, Executive Director and Head of Investment Banking at RMB Nigeria, emphasized the project's importance in connecting regional entities and supporting trade development.

Enyinna Anumudu, Senior Deal Maker and Head of Infrastructure Finance at RMB Nigeria, noted that the project is a critical infrastructure initiative that will stimulate trade and contribute to Nigeria's emissions reduction target of 94% by 2050. RMB has demonstrated its expertise in cross-border transactions and continues to support Mota Engil Africa as the EPC contractor for this project.