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The funding will free up government capital for other infrastructure projects
A pan-African infrastructure investor and asset manager has assumed operations of a crucial trade corridor that links The Gambia and Senegal – the company regards it as an example of a bankable project that can be accelerated through private investment.
Africa50 announced that it has disbursed the first $15.5 million tranche of a $100m Asset Recycling programme with the Government of The Gambia to upgrade the Senegambia Bridge.
Located on the critical Trans-Gambia road corridor linking Dakar in Senegal to Banjul in The Gambia, the bridge plays a pivotal role in facilitating the efficient movement of goods and people within the West African sub-region.
Upgrading the bridge in The Gambia
A recent groundbreaking ceremony at the Senegambia Bridge will now pave way for upgrade works to commence, which will include:
The construction of a new Administrative Block,
The construction of a new Operations and Maintenance Centre,
The modernisation of the two toll plazas including the installation of new toll booths, IT equipment, surveillance systems and construction of new canopies, and
The construction of two new Weighing Stations on each side of the bridge.
The introduction of automatic tolling lanes and modernised infrastructure will improve operational efficiency and substantially reducing transit times, said Africa50.
Also, the installation of 24-hour surveillance, advanced traffic management systems and overload control centres will improve user safety while ensuring the structural integrity of the bridge.
The project will create 235 direct jobs during the construction and operational phases, with 175 jobs generated during construction and an additional 60 permanent positions being created for operational staff once the upgrades are completed.
It will be managed by the newly established Transgambia Bridge Company, created through a shareholders agreement between both parties.
Drive for investment in other bankable projects across Africa
Africa50 said it is pioneering the model to mobilise private capital to accelerate the delivery of bankable infrastructure projects across Africa.
This investment signifies the start of extensive upgrades to improve operational efficiency and maximise regional trade as part of the company’s Asset Recycling Programme.
Asset recycling enables governments to concession infrastructure assets to private investors for a predetermined period, releasing public funds to invest in other critical infrastructure projects.
It enables African governments operating with limited fiscal space to free up valuable resources for development priorities. |
