UK Export Finance (UKEF), has underwritten EUR422 million (US$474 million) of financing for upgrades to Zanzibar’s road network and to Pemba Airport in Tanzania.

Through collaboration with Citi, UKEF successfully facilitated EUR180 million (US$202 million) in loans for the airport upgrade, and in partnership with Deutsche Bank, they enabled EUR242 million (US$ 272 million) in loans for road improvements. Both projects will be executed through strategic joint ventures, with Propav Infraestructuras taking the lead and working in conjunction with Mecco Ltd.

The enhancements planned for Pemba Airport will turn the existing domestic facility into an international flight hub, as currently, international flights can only land in Unguja. The project will include runway extension, construction of new terminal buildings, and the addition of essential infrastructure, such as a control tower. Additionally, 103km of road upgrades on Unguja and Pemba, the two largest islands in the archipelago, will involve expanding 3 major roads to 4 lanes each, and these will be equipped with street lighting and additional paving for improved connectivity.