At the recent African Export-Import Bank (Afreximbank) Intra-African Engineering, Procurement, and Construction (EPC) Workshop in Lagos, stakeholders closed business deals exceeding $370 million—a major step towards empowering African contractors and reducing reliance on foreign firms for critical infrastructure projects.
Among the deals sealed, Egypt’s Hassan Allam secured a $300 million global facility agreement, Pavifort Construction from Sierra Leone received a $45 million term sheet, and Afric Cement of Burkina Faso was awarded $25 million. These investments signal Afreximbank’s push to bridge Africa’s annual infrastructure spending gap of over $100 billion by enabling African contractors to play a central role in large-scale projects across the continent.
Ayman El-Zoghby, Afreximbank’s Director of Trade and Corporate Finance, emphasized the bank’s mission to support African contractors through financial resources, skills development, and networking opportunities. “This workshop underscores our commitment to transforming Africa’s infrastructure landscape by empowering local contractors to lead in major projects,” said El-Zoghby. He highlighted the Afreximbank-EPC Tenders Platform, a digital portal that connects contractors to project opportunities and provides essential support for project lifecycles.
The workshop also addressed the importance of enhancing local content and forging partnerships between African and international firms, viewed as key to strengthening Africa’s contractor ecosystem. By engaging with sub-sovereign governments, Afreximbank aims to stabilize regulatory environments and build financial credibility for African contractors, providing them with a competitive edge in the global EPC market.
Reflecting on the new funding, Mahmoud El Essawy, Managing Director of Hassan Allam Construction, praised Afreximbank’s support in addressing Africa’s EPC sector challenges. “The $200 million facility, recently increased to $300 million, has been instrumental in helping us undertake projects that drive economic growth across the continent,” El Essawy remarked.
Alimu Sanu Barrie, CEO of Pavifort Associates, echoed these sentiments, expressing gratitude for the $45 million term sheet. “The EPC Workshop empowered us to understand the unique challenges African companies face and gave us the resources to overcome them,” Barrie said. Moctar Mando, Chairman of COGEB Group, also recognized the workshop’s impact, highlighting how new financing for the AFRIC CEMENTS project supports his company’s expansion and strengthens its market position.
With over 180 participants, including EPC firms, financial institutions, and representatives from government agencies, the workshop served as a pivotal event for fostering new partnerships. Attendees were introduced to Afreximbank’s EPC Platform and took part in discussions on financing strategies, local content enhancement, and sustainable infrastructure development.
Afreximbank’s commitment to strengthening African contractors and supporting local content continues to shape the continent’s construction sector, with this workshop laying a strong foundation for future initiatives that will expand Africa’s infrastructure capabilities and economic resilience.
