The African Export-Import Bank (Afreximbank) has activated and accepted a $28 million dual-tranche facility for DOTT Services Limited, the main Uganda-based engineering, procurement and development (EPC) contractor, and has begun disbursing funds to assist the execution of its EPC tasks pipeline, valued at greater than $550 million.
Provided beneath Afreximbank’s EPC Contract Promotion Initiative, the ability is designed to strengthen the capability of African EPC champions to safe and execute large-scale infrastructure tasks throughout the continent. Specifically, the financing will assist DOTT Services Limited in executing contracts and pursuing near-term alternatives valued at roughly US$550 million throughout Uganda, Tanzania, Kenya and the Democratic Republic of Congo.
Commenting on the transaction, Mr. Humphrey Nwugo, Director of Regional Operations at Afreximbank’s Eastern Africa workplace, stated: “This facility displays Afreximbank’s dedication to constructing sturdy African EPC champions able to delivering the infrastructure that underpins Africa’s industrialisation, commerce and financial integration. By supporting DOTT Services Ltd, a well-established regional contractor with operations throughout 5 African nations, we’re addressing a crucial financing hole that has traditionally constrained the flexibility of African companies to take part meaningfully in large-scale, cross-border infrastructure tasks.
The financing will improve DOTT’s capability to execute strategic tasks throughout the continent, facilitate intra-African commerce in items and providers and strengthen regional worth chains. It additionally advances Afreximbank’s EPC Contract Promotion Initiative, which seeks to extend African participation within the improvement and supply of Africa’s infrastructure.
