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The African Export-Import Bank (Afreximbank) and the Development Bank of Southern Africa (DBSA) have agreed to contribute up to US$10 million to a joint facility to prepare high-impact infrastructure and industrial projects in South Africa and the wider Southern African region.
The Joint Project Preparation Facility (JPPF) Framework agreement was announced in a statement on Friday, with the funds expected to support the development of projects to a standard capable of attracting public, private and blended financing.
The agreement is one of the first operational instruments to follow South Africa’s accession to Afreximbank in February, according to the statement.
The agreement was signed on behalf of Afreximbank by Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, while Greg Fyfe, Chief Investment Officer at DBSA, signed on behalf of the development finance institution.
Awani said Africa’s infrastructure challenge was not only a shortage of capital, but also a shortage of projects prepared to the standards required by investors and lenders.
“This JPPF addresses this critical constraint,” Awani said.
“By combining Afreximbank’s trade and industrialisation mandate with DBSA’s infrastructure-development expertise, we will help move priority projects from concept to investment readiness and mobilise the larger pools of public, private and blended finance required for implementation. For South Africa and the wider Southern Africa region, this is how project preparation becomes a practical instrument for industrialisation, export growth and regional integration under the AfCFTA,” she said.
Fyfe said the facility would strengthen the pipeline of bankable infrastructure and industrial projects across South Africa and the Southern African region.
“The Joint Project Preparation Facility represents a significant step towards strengthening the pipeline of bankable infrastructure and industrial projects across South Africa and the Southern African region,” Fyfe said.
He said the partnership would leverage the complementary strengths of the two institutions to improve project preparation, unlock investment opportunities and accelerate infrastructure delivery.
Fyfe said the initiative reflected DBSA’s commitment to infrastructure-led development and to creating sustainable, long-term impact through well-prepared projects capable of attracting both public and private sector investment.
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