Banks provide funding for Beitbridge border revamp

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Trucks parked at Beit Bridge border post. (Gallo)
Trucks parked at Beit Bridge border post. (Gallo)
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  • Lenders have provided $130 million in loans for an upgrade of the Beitbridge border between South Africa and Zimbabwe, according to BusinessLive.
  • This includes commercial debt tranche arranged by FirstRand's Rand Merchant Bank unit, Standard Bank, Absa and Nedbank. 
  • The Beitbridge crossing was closed for most traffic last month to stop the spread of the coronavirus.


Lenders including Standard Bank and FirstRand provided $130 million of loans for an upgrade of Southern Africa's busiest border crossing.

The financing for the Beitbridge border between South Africa and Zimbabwe includes the $130 million commercial debt tranche arranged by FirstRand's Rand Merchant Bank unit, Standard Bank, Absa and Nedbank, according to an article paid for by RMB and published by Johannesburg-based website BusinessLive.

It also includes a $65 million development-finance institution tranche from Afreximbank and the Emerging Africa Infrastructure Fund.

Zimbabwe's finance minister, Mthuli Ncube, tweeted that the funding showed investors' confidence in his country's economic prospects. A group of private-equity firms with a concession to operate the border post has said it will invest $300 million on the upgrade.

The Beitbridge crossing was closed for most traffic last month to stop the spread of the Coronavirus. On average about 25,000 people pass through Beitbridge daily, according to Zimbabwean officials.

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