While enhancing port infrastructure is a crucial first step, it is only the beginning. The real challenges – and opportunities – lie in developing integrated transport corridors that link ports to the interior. The importance of these corridors cannot be overstated, especially when considering the transnational corridors connecting countries like the Northern corridor that runs from Mombasa port in Kenya to Uganda, Democratic Republic of Congo and onwards to Lagos in Nigeria. Another is the central corridor from Dar es Salaam port to Democratic Republic of Congo and Burundi. To unlock the full trade potential of such key transport corridors, we need efficient, sustainable ways to transport goods and passengers on rail or road.
Financing is just one aspect of such projects, though. For the Standard Bank Group, deals must not only make economic sense, they must also deliver social impact. When brokering agreements on this scale, preparation and prioritisation are crucial. This is reflected in the low number of proposed infrastructure projects that reach financial close in Africa. This isn’t necessarily due to insufficient capital, but rather to limited policies to support investor confidence and inadequate support during the project development phase, especially given the long lead times required.