Afreximbank, Thelo DB sign MoU for Africa railway development -

African-Export Import Bank (Afreximbank) and South Africa-based Thelo DB Proprietary Limited on Tuesday in Johannesburg, South Africa, signed a memorandum of understanding (MoU) to develop, finance and operate railway projects in Africa.

Under the terms of the MoU, signed on the side lines of the ongoing Africa Investment Forum, Afreximbank and Thelo DB will collaborate to support the modernisation of the continent’s railways as a catalyst to promoting trade, investment and economic skills development, recognising the urgent need for implementation of efficient and effective transportation and logistics solution in Africa, with particular emphasis on the freight railway sector.

Speaking during the signing ceremony, Benedict Oramah, president of Afreximbank, described the event as timely, given that the continent was in the process of operationalising the African Continental Free Trade Area agreement.

According to Oramah, it is imperative that critical trade enabling infrastructure be put into place to facilitate the flow of trade-able goods and services along Africa’s trade corridors. He noted that Afreximbank’s strategic plan, IMPACT2021, sought to dramatically improve intra-African trade.

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Ronnie Ntuli, chairman of the Board of Thelo DB, welcomed the opportunity to work with “this leading and prestigious African multilateral development finance institution” and said that the strategic collaboration between the two organisations provided Thelo DB with the prospect to enhance the technical value chain of services that it offered to the African railway sector. “Through this critically important relationship, we are able to offer to the continent, not only the best technical solutions for the railway sector but also introduce financing solutions to finance railway projects across the continent.”

He further stated that Afreximbank and Thelo DB were well-positioned to facilitate trade, support infrastructure development and, importantly, help deliver the ambition of regional integration.

Thelo DB was committed to delivering unparalleled know-how and experience in the African railway sector and to providing railway infrastructure development, operational cooperation and construction supervision by implementing, and rehabilitating existing infrastructure, enhancing operational efficiencies and managing risks associated with rolling stock while transferring skills through training and skills development programs, explained Ntuli.

According to him, by bringing separate but complementary sets of specialties, Afreximbank and Thelo DB anticipate much improved efficiencies in the development, financing and operation of railway infrastructure projects, enhancing regional skills and supporting broader economic development on the African continent.

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.