Rand Merchant Bank (RMB) has completed a major cross-border financing arrangement to support the development of the Kano–Maradi railway project, a 374-kilometre transport infrastructure linking Nigeria and the Niger Republic.
The bank served as Global Coordinator and Initial Mandated Lead Arranger for a $1.8bn facility provided to Nigeria’s Ministry of Finance for the construction and delivery of the rail line, which is expected to enhance regional trade and connectivity.
According to the bank, the funding structure was assembled through collaboration with multiple development finance institutions and local currency lenders as part of a broader infrastructure financing strategy.
Senior executives at RMB Nigeria described the transaction as a significant milestone in African infrastructure financing, highlighting its complexity and cross-border nature.
The Executive Director and Head of Investment Banking at RMB Nigeria noted that the project demonstrates the bank’s capacity to structure large-scale regional deals that support trade and economic development across West Africa.
He explained that the financing model incorporated engineering, procurement and construction arrangements, with participation from experienced contractors engaged in major infrastructure delivery across the continent.
Another senior dealmaker at the bank emphasized the importance of long-standing partnerships with key infrastructure contractors involved in the execution of such projects, describing them as essential to successful project delivery.
The Kano–Maradi railway project is expected to improve transportation links between Nigeria and Niger, promote regional integration, and diversify transport options for goods and passengers across the corridor.
The initiative is also projected to stimulate cross-border trade, strengthen economic cooperation, and contribute to broader environmental and emissions reduction goals over the long term.
RMB further stated that it worked in collaboration with other financial institutions over several years to structure and execute the deal, navigating complex regulatory, due diligence and compliance requirements.
The bank described the transaction as a landmark achievement in infrastructure finance, reinforcing its role in supporting large-scale development projects across Africa.
