Amid funding crisis and outcry over likely debt crisis, a rail advocacy group, African Railway Roundtable alongside a Swiss and South African rail association, has scheduled a railway financing conference and exhibition for October 24.
The event scheduled for Abuja, the Nigeria’s capital, is co-sponsored by the Nigerian Federal Ministry of Transportation, German Friendship Society, South African Railroad Association, and Railway Working Group of Switzerland, among other partners.
According to a statement issued by a director of the African Railway Roundtable, Olawale Rasheed, high profile speakers lined up for the event include: Ministers of Transportation, heads of national railway agencies, finance professionals, logistic experts alongside critical procurement decision makers; railway manufacturers and other stakeholders.
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Speaking on the significance of the event, Rasheed noted that railway transport is a sector attracting passionate interest among African leaders with several governments embarking on ambitious railway expansion and modernization, adding that, “financing railway is a major headache for Aftica.”
“African leaders are challenged by funding and financing constraints in their bid to execute ambitious rail agenda. National capacity is limited. Borrowing raises fear of debt trap. Multilateral sources are equally facing shortfall and capacity crisis. The continent is in search of a workable sustainable financing and funding options to expand and upgrade the railway network system and benefits from the many advantages of railway transport.
“The Railway Financing conference will help participants to develop a greater understanding of the financing possibilities and options. The conference will present various financing paths while at the end forging a combined alternative to satisfying African yearning for an expanded railway network,” he added.
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