Afreximbank’s EPC Initiative Boosts African Infrastructure Development

In a significant move, the African Export-Import Bank (Afreximbank) unveiled an intra-African Engineering, Procurement, and Construction (EPC) platform during a workshop at the third Intra-African Trade Fair (IATF2023) in Cairo.

The platform empowers African contractors by facilitating the seamless posting of key infrastructure projects for bidding.

Kanayo Awani, Executive Vice President of Intra-African Trade Bank at Afreximbank, highlighted the workshop’s objective: to promote African participation in large-scale infrastructure projects and facilitate the awarding of EPC contracts to African entities.

This capacity-building program aims to enable African contractors to successfully bid for construction projects not only on the continent but also globally.

Success stories from companies such as Mota Engil, Elsewedy, and Hassan Allam, which received support from Afreximbank, were shared during the workshop.

Representatives emphasized the importance of allowing labour movement across African borders, enabling EPC contractors to bring in workers with specific expertise. They also stressed the inclusion of local content requirements in EPC contracts to encourage the use of local contractors and enhance capacity building.

The workshop concluded with the signing of facility agreements, signalling a tangible commitment to the initiative.

Notable agreements include $200 million with Hassan Allam, US$30 million with Grainer Angola, $50 million with DOTT Services, $200 million with Arab Contractors, $200 million with FDI, and $300 million with Elsewedy.

Afreximbank’s initiative signifies a strategic push towards enhancing the capabilities of African contractors in the infrastructure sector.

By fostering collaboration, knowledge sharing, and financial support, Afreximbank aims to contribute to the development of robust, sustainable, and locally-driven infrastructure projects across the continent.

The intra-African EPC platform stands as a pivotal step toward achieving these objectives, fostering economic growth and connectivity in Africa.