THE African Development Bank will hold an investors’ roadshow to attract as much as $7.6bn in financing for a railway line linking Tanzania’s port in Dar es Salaam with neighbouring landlocked countries.The Abidjan, Ivory Coast-based lender is teaming up with the World Economic Forum to help find investors to bankroll the 2,200km line, according to Gabriel Negatu, AfDB’s regional director for East Africa."We are convening a meeting of would-be investors to see how best to finance the line," Negatu said in a September 23 interview in Kenya’s capital, Nairobi. "Everyone who can come up with financing, we will recommend them to the Tanzania government."The planned standard gauge line is "credit positive" and once operational may cement Tanzania’s position as a logistics hub for Eastern Africa, Moody’s Investors Service said on September 15. While President John Magufuli’s government says it will become a major trade artery between Tanzania and its neighbours, research firms such as NKC...
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