Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, today announced that it has provided a EUR 100 million, 5-year term facility to Mota-Engil Africa (MEA), the regional arm of the global construction giant, Mota -Engil Group.

The funding will support the acquisition of equipment, inventories, and site infrastructure for the execution of three new gold- mining contracts in Côte d’Ivoire and Mali.

AFC’s funding will enable Mota-Engil Africa to scale up operations in West Africa’s burgeoning mining sector, where gold remains a critical export commodity and a driver of local employment and foreign exchange earnings.

The new mining contracts represent a significant boost for the mining industries in both Côte d’Ivoire and Mali, countries with substantial untapped mineral potential. The facility is another milestone in AFC and MEA’s longstanding strategic relationship with MEA, which began in 2016.

AFC has played a leading advisory role in several of the institution’s recent landmark transactions including the new Bugesera International Airport project in Rwanda, the US$2 billion Kano Moradi rail project in Nigeria and the 1,289km Lobito I rail line project in Angola, where AFC is acting as financial adviser to Lobito Atlantic Railway- the consortium comprising Mota Engil Africa, Trafigura and Vecturis SA.

Source: Dmarketforces