• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    $7.9 Billion in Exports glid in 2021 from the East African Community (EAC) Bloc to Africa amidst the Novel Corona Virus (COVID -19) Consequence
    President William Ruto of Kenya has Urged fellow African Rulers to address on Agribusiness beyond Production to Value Addition and Manufacturing
    Africa’s Economic Growth to Outpace Global Forecast in 2023-2024, AfDB Report
    Growers in Uganda to succeed from Nigeria’s AFEX’s Tech-Enable Products having expanding its Products Exchange Business in Nigeria’s AFEX from Kenya
    Nigeria Sets Quality Control and Assurance Laboratory for the Oil and Gas Industry
    Zimbabwe Records it’s Largest Wheat Production in 2022
    …for Electricity Generation Kenya’s Electricity Capacity Rises at 3,000MW
    The Administration of the Egypt Pound diminished by 13% below 32 to the U.S.D as the Central Bank of Egypt started a flexible exchange rate of an International Monetary Fund Financial Support Package
    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)
    Dangote and Partners Invest $1 Billion in Sugar Production in Nigeria

    The African Development Bank (AfDB) and Uganda approved $229.5 Million Financing Commitment for Phase One of the Kampala Jinja Expressway

    Posted On 01 Apr 2021
    By : New Africa Business News, Staff Correspondent
    Comments: 8

    By Abdul Rahman Bangura–

    Photo Credit: World Bank Group

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– $229.3 million financing consensus was signed last week between Uganda and the African Development Hank Uganda and the African Development Bank for phase one of the Kampala-Jinja Expressway – a project foreseen to reduce travel time between the two cities and improve trade along the northern corridor which links the country with its neighbors.

    The dough will fund Expressway Civil Works whose contractor procurement is presently ongoing, for the 95km project whose total cost is $1.48 billion, to be implemented under a Public Private Partnership (PPP) arrangement, Uganda National Roads Authority (UNRA) explains.

    A private concessionaire will be obtained, for period of 30 years, including an eight-year construction period on a design build finance operate-transfer basis under the Availability Payment PPP model, the UNRA asserted.

    Matia Kasaija – Finance Minister that endorsed on behalf of the Uganda administration, said, the Expressway will boost traffic progression and curtail travel time from more than three hours to under one hour between Jinja and Kampala — the country’s two main economic centers. The project encompasses of the Kampala-Jinja mainline Expressway and the Kampala Southern Urban Bypass (KSB), with financing from AfDB to be utilized for works on the 18km KSB and the 35km span of the main expressway from Kampala to Namagunga, East of the city.

    Subsequently, section two of the expressway is a rural motorway covering 42km from Namagunga to Jinja, whose financing and implementation of works hinges on when the French Development Agency (AFD) endorses and disburses €90 million ($105 million). In March of 2020, junior minister for finance David Bahati tabled before Parliament two proposals pursuing its approval to adopt $229.47 million from AfDB and €90 million from
    AFD to finance construction of Kampala-Jinja expressway. And both loans have a compassion period of eight years and maturity period of twenty five years, Bahati’s proposals to Parliament specified.

    Thus, the recommendations were meant to regularize the borrowing as the AfDB board had in October 2018 already approved the $229.47 million loan for the Kampala-Jinja expressway project, to be co-financed with the AFD, in support of Uganda’s Vision 2040, which prioritizes road infrastructure development. Financing is expected to pave the way for the private concessionaire to provide the remaining $800 million.

    “The Public-Private Partnership model will bring in private sector participation and financing of a key infrastructure in Uganda and will yield a significant economic return for the country with an estimated net revenue of $2.1 billion over the 30-year concession period,” stated AfDB Country Manager for Uganda Augustine Kpehe Ngafuan.

    The financing approval prescribes that at least 30% of subcontracting in the project will be granted to local companies, create at least 1,500 direct jobs during the construction phase and 250 jobs during the operational phase, Ngafuan explained.

    Expanding that as important for the economic development of Uganda, designed to a classic in line with the government purposes and consistent with the nation’s expressway network. The expressway, whose rehearsal commenced in 2010 with a feasibility study, and in in 2014, the International Finance Corporation was nominated
    transaction advisor for the PPP feasibility studies and preparation of the bidding process. When finalized, it will form a system that will facilitate rapid mobility of vehicles within and around Kampala and its confining neighborhoods.

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    Facebook: newafricabusinessnews.com

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    Tanzania’s President advised the Minister of State, President’s Office Regional Administration and Local Government – Selemani Jafo to work on unbridled Remuneration loss within his directory

    Next Story

    African Continental Free Trade Area, United Nations Development Programme Announce New Partnership Towards Inclusive Growth in Africa

    8 Comments

    1. Jean April 1, 2021 at 2:27 am Reply

      Thank you for the report and the newsletters. Jean in Kigali Rwanda

      • New Africa Business News, Staff Correspondent April 1, 2021 at 2:27 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Dola April 1, 2021 at 2:32 am Reply

      Our economics are growing all over the continent. We therefore need good roads, good job Uganda. Lagos in Nigeria. Dola

      • New Africa Business News, Staff Correspondent April 1, 2021 at 2:33 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Frank April 1, 2021 at 2:36 am Reply

      Thank you for the news and daily newsletters. Frank in Berlin GERMANY

      • New Africa Business News, Staff Correspondent April 1, 2021 at 2:42 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Paul April 1, 2021 at 2:41 am Reply

      Our government in Uganda are taking and continue taking loans, government need to slow down for these loans. Thank you for the reports. Paul in Kampala, Uganda

      • New Africa Business News, Staff Correspondent April 1, 2021 at 2:42 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    $7.9 Billion in Exports glid in 2021 from the East African Community (EAC) Bloc to Africa amidst the Novel Corona Virus (COVID -19) Consequence

    Posted On 28 Jan 2023

    President William Ruto of Kenya has Urged fellow African Rulers to address on Agribusiness beyond Production to Value Addition and Manufacturing

    Posted On 27 Jan 2023

    Africa’s Economic Growth to Outpace Global Forecast in 2023-2024, AfDB Report

    Posted On 26 Jan 2023

    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)

    Posted On 05 Jan 2023

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    New Africa Business News Award Medalist of Excellence as Africa's President of the Year 2020-2021 meets the Heads of his Ancestors on March 17th, 2021 Samia Suluhu Hassan divulged

    Posted On 20 Mar 2021

    Thanks for reading, Africa’s fastest...

    Posted On 21 Jan 2023

    Thanks for reading, Africa’s fastest...

    Posted On 21 Jan 2023

    Thanks for reading, Africa’s fastest...

    Posted On 21 Jan 2023

    Facebook

    Latest Posts

    $7.9 Billion in Exports glid in 2021 from the East African Community (EAC) Bloc to Africa amidst the Novel Corona Virus (COVID -19) Consequence

    President William Ruto of Kenya has Urged fellow African Rulers to address on Agribusiness beyond Production to Value Addition and Manufacturing

    Africa’s Economic Growth to Outpace Global Forecast in 2023-2024, AfDB Report

    Recent Posts

    • $7.9 Billion in Exports glid in 2021 from the East African Community (EAC) Bloc to Africa amidst the Novel Corona Virus (COVID -19) Consequence
    • President William Ruto of Kenya has Urged fellow African Rulers to address on Agribusiness beyond Production to Value Addition and Manufacturing
    • Africa’s Economic Growth to Outpace Global Forecast in 2023-2024, AfDB Report
    • Growers in Uganda to succeed from Nigeria’s AFEX’s Tech-Enable Products having expanding its Products Exchange Business in Nigeria’s AFEX from Kenya
    • Nigeria Sets Quality Control and Assurance Laboratory for the Oil and Gas Industry

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.