Absa Bank Mozambique finances rehabilitation of Beira-Zmbabwe railway line

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Absa Bank Mozambique finances rehabilitation of Beira-Zmbabwe railway line

7:04 CAT | 30 Nov 2023

Image: VOA

Absa Bank Mozambique is financing the rehabilitation of the railway line between Sofala and Zimbabwe, which began in Sofala province on November 23. This investment reinforces the institution’s commitment to contributing to national socio economic development.

The work began, in partnership with CFM, in 2019, and covers a total length of 317 kilometres, connecting the port city of Beira, in Sofala, to Zimbabwe. The rehabilitation of this infrastructure is expected to boost the Southern African region, in accordance with the Southern African Development Community (SADC) protocols, thus increasing annual cargo flow.

At the inauguration, Absa Bank Moçambique was represented by the Director of Corporate and Investment Banking, Patrícia Darsam, who said: “In addition to financing this project, we are partners with CFM in several others. In the case of this initiative, Absa Bank Moçambique is financing the CFM rehabilitation of the railway line that connects the City of Beira to Zimbabwe. We intend to continue to offer our support in future developments, ensuring growth and boosting the economy through infrastructure areas.”

The rehabilitation is expected to increase the number of trains, improve traffic safety and reduce derailments, as well as reducing transit time.

This initiative once again demonstrates the bank’s commitment to promoting and investing in Mozambique and its communities.

Financiamos a reabilitação da linha férrea que liga Sofala ao Zimbabwe. Um projecto que irá contribuir para mais comboios na região, com melhores condições de segurança, e ajudar a impulsionar a economia da África Austral. #AbsaBankMoçambique #linhaférreaSofalaZimbabwe pic.twitter.com/vwFh8iRRRr

— Absa Bank Moçambique (@AbsaMozambique) November 29, 2023