The African Export-Import Bank (Afreximbank) and Ghana Railway Company have signed a project preparation facility agreement for the development and implementation of an integrated 299-km standard gauge railway network that connects Ghana’s western corridor to the Port of Takoradi.

The Bank will provide funding at the early stages of the project to cover the costs of preparing feasibility studies that meet the requirements for financing. A pre-mandate letter has been issued to Afreximbank, assigning certain responsibilities prior to the project becoming bankable, with the goal of securing a debt facility amounting to approximately US$2.1 billion. Afreximbank is committed to providing financial solutions, including support for project preparation, project financing, syndication, financial advisory services, and risk-bearing instruments, to ensure the project achieves a timely financial close.

Afreximbank sees railway investments as a means to enhance trade corridors, create new routes, and facilitate the transportation of value-added goods. This is particularly relevant in Ghana, where new mining projects and expansions are being planned. The railway corridor would improve transportation efficiency, competitiveness, and trade, contributing to regional integration and economic development.