Impact Banking – “IMPACT is the only sustainable form of Capitalism”!

By Tshepo Magagane

Why we do what we do!

“if not us, who will”!

Zambia Railways Limited (ZRL) has appointed Pangaea Securities as Transaction Advisor to mobilise US$60 million from Development Finance Institutions (DFIs) and private sector investors to support the rehabilitation of the country’s railway infrastructure.

The funding will complement a €50 million grant secured under the European Union (EU) Railway Sector Support Programme (RSSP), which is aimed at rehabilitating critical sections of ZRL’s rail network, including signalling and communication systems.

According to a statement issued on Thursday, the financing initiative is anchored on ZRL’s Strategic Business Plan (2024–2028), which targets an increase in annual freight volumes from 800,000 tonnes in 2024 to 2.6 million tonnes by 2028.

Phase One of the plan requires an estimated US$113 million investment to upgrade infrastructure and signalling systems.

Meanwhile, Pangaea Securities Chief Executive Officer, Ceasar Siwale, reaffirmed the firm’s commitment to successfully mobilising the targeted US$60 million.

“We are excited to partner with Zambia Railways Limited on this important project. Our strength lies in structuring bankable transactions, identifying appropriate sources of capital and engaging a wide network of financiers to deliver results,” he said.