EAIF commits $50mn to Senegal’s electric bus network
The Emerging Africa Infrastructure Fund has committed $50 million to boost Senegal’s fully electric public bus network. The funding sets a new benchmark for sustainable public transport in Africa. Puleng Pitso, Investment Specialist at Emerging Africa Infrastructure Fund, joins CNBC Africa for this discussion.
Thu, 30 Nov 2023 14:48:36 GMT
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AI Generated Summary
- Emerging Africa Infrastructure Fund commits $50 million to enhance Senegal's electric bus network, supporting the development of the first fully electric BRT system in Africa.
- The project aligns with Senegal's efforts to improve urban transport and address traffic congestion, offering a sustainable solution to enhance public mobility.
- The replicability of the initiative indicates potential for similar sustainable transport projects in other African markets, setting a new benchmark for infrastructure development.
Emerging Africa Infrastructure Fund has recently committed $50 million to enhance Senegal's fully electric public bus network, setting a new standard for sustainable public transport in Africa. The funding will support the development of the first fully electric Bus Rapid Transit (BRT) system on the continent. Puleng Pitso, Investment Specialist at Emerging Africa Infrastructure Fund, provided insights into the project and its significance during a discussion with CNBC Africa.
Pitso highlighted that the fund, in collaboration with Propalco, has contributed a total of approximately $86 million towards the initiative. This investment will facilitate the purchase of 121 electric buses for the BRT system and ensure the financing of its operations throughout the 15-year concession period. By renewing the buses at the end of their lifespan, the project aims to reinforce the fund's commitment to sustainable infrastructure development in Senegal.
The implementation of the electric bus network is crucial for Senegal, a densely populated country facing significant traffic congestion in its cities. The BRT system is expected to alleviate transportation challenges and enhance connectivity within the urban areas. Senegal's government has been actively working towards improving the transport sector, and the introduction of the electric buses aligns with this goal.
Pitso emphasized the replicability of the project, suggesting that its success in Senegal could pave the way for similar initiatives in other markets across Africa. The innovative approach to public transportation not only addresses environmental concerns by promoting clean energy but also offers a sustainable solution to urban mobility challenges.
As the first of its kind on the continent, the fully electric BRT project in Senegal demonstrates the potential for modernizing public transport systems in African countries. With the commitment of Emerging Africa Infrastructure Fund and the collaboration of key stakeholders, the initiative sets a positive precedent for future investments in sustainable infrastructure.
