Morocco’s Railway Operator ONCF Secures Record Investments

Morocco’s railway operator ONCF secured over $14 billion in commitments at the Africa Investment Forum. This marks a major milestone in Africa’s transport infrastructure development. This was reported by the railway transport news portal Railway Supply.

Ambitious Plans for ONCF’s Railway Expansion

Morocco’s ONCF presented an $8.8 billion railway expansion plan during the Africa Investment Forum. Investors pledged $14 billion, reflecting their confidence in Africa’s transport sector. African Development Bank President Akinwumi Adesina highlighted the project’s strategic value.

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“The ONCF’s flagship project resonates strongly with investors, signaling growing enthusiasm for African infrastructure,” Adesina said. The Bank’s $650 million loan, pending board approval, will enhance Morocco’s transport network ahead of the FIFA World Cup, co-hosted with Spain and Portugal.

Strategic Investments Boost Morocco’s Development

In addition, a €350 million loan will fund Morocco’s initiatives in economic governance, climate resilience, and industrial growth in the Nador West Med zone. These investments align with Morocco’s goal of sustainable progress and regional leadership.

The Africa Investment Forum facilitated $29.2 billion in deals under the theme “Leveraging Innovative Partnerships for Scale.” This underscores Africa’s potential as a hub for transformative projects, attracting global investors.

These developments position Morocco as a transportation leader. Enhanced railways will strengthen connectivity, drive economic growth, and support the country’s World Cup preparations, underscoring its commitment to progress.

Source, photo: northafricapost.com

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