By Wallace Mawire
The African Royal Group of Companies is resurrecting the Cape-Cairo Rail Project with the support of The Southern African Railway Association (SARA) and regional railway operators in an initiative anticipated to transform trade and connectivity across the African continent.
This was revealed at a roundtable meeting with investors, on the sidelines of the 2024 Rail Conference and Exhibition.
The conglomerate’s investment director, HIH Prince Estifanos, expressed optimism in the prospects of the project. “We are optimistic that the Cape to Cairo Railway will not only boost trade and integration but also reduce logistics costs for governments and stimulate economic growth across the continent.”
“The investment will launch in Southern Africa, with plans to expand across the Regional Economic Communities (RECs) by December,” said Prince Estifanos, Investment Director of the African Royal Group of Companies. The group is at the forefront of fostering bilateral trade, investment, and cooperation in infrastructure development across Africa, with a particular focus on the Cairo-Cape Town Corridor project. Through its trade and investment arm, the Africa Trade and Investment Center, the conglomerate is driving the financing and revival of the Cape to Cairo Railway Project.
The Johannesburg-based firm has been pivotal in securing the necessary agreements to propel the project forward, having signed three Memorandums of Understanding (MOUs) with key railway operators across the continent. Furthermore, they have successfully facilitated partnerships between regional railway operators and a diverse array of investors and financiers, drawing support from both international corporations and continental financial institutions.
The Cape to Cairo Railway Project, originally conceived in the late 19th century, aims to create a continuous rail link stretching from the southern tip of Africa to the northern reaches, greater intra-African trade and slashing logistics costs. The revival of this monumental project is set to transform Africa’s transportation landscape by reducing reliance on road transport, which in turn is expected to lower carbon emissions, decrease road traffic accidents, and preserve road infrastructure.
His Imperial Highness Prince Estifanos Matewos emphasized the importance of welcoming investment to enhance rail systems across Africa. He revealed that major financial institutions, including the World Bank, the International Monetary Fund (IMF), and the African Export-Import Bank (AFREXIM), have expressed strong interest in funding the railway sector, and successful partnerships with governments and private operators will bring the development and implementation of the railway projects across African states.
“We are optimistic that the Cape to Cairo Railway will not only remove barriers to trade and integration but also reduce logistics costs and create millions of jobs across the continent. “The investment will commence in Southern Africa, with plans to expand throughout the other Regional Economic Communities by December,” said Prince Estifan
