UK Export Finance (UKEF), the government’s export credit agency, has provided over US $125.7m of financing to support the refurbishment of a 183.5km interstate road in Benin. This is a major deal for the UK construction industry in West Africa and is the first transaction supported by UKEF in Benin.
The agreement follows six months on from the Africa Investment Summit that took place in January of this year where the UK committed to being the ‘partner of choice’ for African nations. Total UK exports to Benin were worth US $36.4m in 2019 and this deal is set to significantly increase that figure during the two years of the road’s development.
Construction company Sogea-Satom UK, part of one of the world’s largest construction group VINCI, will undertake the works on the road between Bohicon and Parakou to better connect Benin to neighbouring Niger.
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Improving access
The rehabilitated road provides essential infrastructure for businesses in Benin. It will improve access to landlocked African countries to the north, helping to transform the country’s trading potential and allow the free flow of commercial traffic in the region.
The refurbishment of the road has been named Project Spine because the new straight road that runs through the middle of Benin will be the backbone of the country’s economy.
In addition to this road project, Sogea Sotum UK is also responsible for managing other large-scale projects in Benin. These include civil works, construction of buildings, refurbishment and development of roads and construction of marine infrastructure. Sogea Sotum UK is strengthening its relationships with UK suppliers to contribute to its project pipeline in the region.
