Afreximbank, South Africa Sign Landmark Deal to Unlock $750m Infrastructure

The African Export-Import Bank (Afreximbank) has announced a major step forward in Africa’s infrastructure development, signing a landmark Joint Project Preparation Facility (JPPF) Agreement with the Government of the Republic of South Africa. The agreement, formalised on the sidelines of the Intra-African Trade Fair 2025 (IATF2025) in Algiers, Algeria, marks a bold effort to accelerate the preparation and delivery of large-scale infrastructure projects.

Driving Infrastructure Transformation

The JPPF, to be implemented through Infrastructure South Africa (ISA) in the National Department of Public Works and Infrastructure, is designed to co-finance the preparation of high-quality, bankable projects. It will target priority sectors such as energy, transport and logistics, and digital infrastructure, with the aim of unlocking investments of at least US$750 million.

By combining Afreximbank’s financial expertise with the strategic oversight of ISA, the partnership seeks to close South Africa’s persistent infrastructure gap, stimulate industrialisation, and crowd in both public and private sector investments.

Transforming Concepts Into Bankable Projects

Speaking at the signing ceremony, Kenny Molong, Deputy Minister in the Presidency, highlighted the challenges that have long slowed down South Africa’s infrastructure pipeline.

“The slow progression of project concepts into fully implemented projects often stems from insufficient vigour in the project preparation phase. This partnership with Afreximbank positions us to transform concepts into viable infrastructure projects that will attract private sector financing and deliver socio-economic benefits. Collaboration is key; no single nation or organisation has all the answers,” Molong said.

Afreximbank’s Regional Vision

Ms. Oluranti Doherty, Managing Director of Export Development at Afreximbank, described the deal as a turning point for South Africa and the wider Southern African region.

“We are pleased to partner with the Government of South Africa, a pivotal regional economic powerhouse, to address its infrastructure challenges. Our goal is to establish a cohesive and interconnected infrastructure ecosystem that will elevate South Africa’s competitiveness and spur economic development, extending benefits beyond its borders into the Southern African Development Community (SADC) region, thereby promoting Intra-African trade and regional integration,” she said.

Doherty further emphasised the bank’s commitment to mobilising funding and technical expertise to de-risk projects at the critical preparation stage, ensuring faster, higher-quality delivery.

South Africa Welcomes the Partnership

Mameetse Masemola, Acting Head of Infrastructure South Africa, hailed the agreement as a “long overdue” development that would significantly strengthen the country’s infrastructure pipeline.

“This is a huge milestone for ISA that will go a long way in developing a credible infrastructure pipeline as mandated by H.E. President Cyril Ramaphosa,” Masemola said.

Success of IATF2025

The signing took place during the closing of IATF2025, which has been described as the most successful edition since the trade fair’s inception. The event attracted more than 112,000 participants, both physical and virtual, with trade deals valued at over US$48 billion concluded.

The fair featured 2,100 exhibitors showcasing products and services across sectors, and was attended by 20 Heads of State and Government representatives, alongside ministers, senior officials, and top business leaders. Hosted by the People’s Democratic Republic of Algeria and organised by Afreximbank in partnership with the African Union Commission and the African Continental Free Trade Area (AfCFTA) Secretariat, the event reinforced Africa’s commitment to strengthening intra-continental trade.

A Platform for Africa’s Single Market

Since its introduction in 2018, the Intra-African Trade Fair has provided businesses a unique platform to showcase innovations, strike new partnerships, and explore opportunities across the AfCFTA’s single market of 1.4 billion people and combined GDP of over US$3.5 trillion.

The new JPPF agreement reflects the alignment of South Africa’s national infrastructure ambitions with Afreximbank’s continental development vision, setting the stage for transformative investment in projects that will boost competitiveness, create jobs, and deepen economic integration across Africa.