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Home Africa

African banks sign US$194M deal to improve trade at Zimbabwe-SA border

Mark-Anthony Johnson by Mark-Anthony Johnson
January 28, 2021
in Africa, Banking, Customs, Development, DFI, Finance, Infrastructure, South Africa, Trade, Zimbabwe
Reading Time: 1 min read
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African banks sign US$194M deal to improve trade at Zimbabwe-SA border
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A group of African banks has signed a US$194M senior debt facility to rehabilitate the Beitbridge border post, a crossing that connects Zimbabwe and SouthAfrica.

Rand Merchant Bank (RMB) acted as co-ordinating bank and sponsors’ advisor and, along with Absa, Nedbank and Standard Bank, was a mandated lead arranger (MLA).

The African Export Import Bank (Afreximbank) and the Emerging Africa Infrastructure Fund (EAIF) were senior lenders, with the latter also acting as a mezzanine lender.

Also read: UAE-Zimbabwe Food and Agribusiness Virtual Forum: Register now

The senior debt facility makes up the majority of the US$297M project cost; the outstanding balance was obtained via a mezzanine debt of US$21M and through equity.

The Export Credit Insurance Corporation (ECIC), the South African export credit agency (ECA), acted as a commercial and political risk insurer for the senior debt facility and, alongside Afreximbank, was a political risk provider for a portion of the shareholders’ equity and loan investments.

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Tags: absaAfreximbankAfrican Export-Import BankBankingBeitbridge borderborderCustomsdevelopmentEmerging Africa Infrastructure FundExport Credit Insurance CorporationFinanceInfrastructureMark-Anthony JohnsonNedbankRand Merchant BankSouth AfricaStandard BankTradezimbabweзимбабвеюжная-африкаجنوب-أفريقيازيمبابويジンバブエ南アフリカ南非津巴布韦
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Mark-Anthony Johnson

Mark-Anthony Johnson

MARK-ANTHONY JOHNSON is the founder and CEO of JIC Holdings, an innovative private holding company established in 2009 which he has built into an international asset and investment management company with offices, associates and investments around the globe. This followed the success of the JIC Group which he founded in 1985. He was educated in the UK at Mill Hill School and then achieved a BA (Hons) in Business and International Finance at University of Westminster. Mark-Anthony’s vision has long been towards emerging and frontier markets with particular emphasis on Africa, Latin America and the Caribbean and his philosophy can be summed up in the phrase “knowledge is power”. Mark-Anthony is also enthusiastic about the latest communication tools, which he uses intensively to keep in touch with up to the minute data. With a deep-rooted connection to the African continent, Mark-Anthony has been passionate about developments in Africa for over 30 years. He has worldwide interests in mining, infrastructure, power, electricity, shipping, commodities, agriculture and fisheries and is currently looking to develop farms across Africa. Mark-Anthony has a vision for a future Africa as the breadbasket of the world. For many years Mark-Anthony has been active on the ground in Africa through his charitable foundation, the Johnson Foundation. Created in 1989, it first provided assistance to people in his ancestral home country, Sierra Leone, even before the civil war. Once the war started, his aid was even more necessary and became focussed on Mark-Anthony’s major concerns for Africa -education, clean water and medical assistance. Over the years, the Foundation’s work has been extended into many parts of Sub-Saharan Africa and has been instrumental in setting up new clinics and rehabilitating villages, schools, places of worship, water facilities etc.

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