Continental Asset Management signs Road Financing agreement

For the caption you can write: CAM CEO Gillian Kachikondo (far left) showing off a copy of the signed agreement
CAM CEO Gillian Kachikondo (far right) showing off a copy of the signed agreement

On 9th February 2023, Continental Asset Management Limited (CAM), joined Standard Bank Plc (SBM) and Old Mutual Investment Group (OMIG) in signing of a financing facility agreement amounting to K34.5 billion with the Roads Fund Administration (RFA) for the rehabilitation of Kenyatta Drive and Mzimba Street in the capital city of Lilongwe.  CAM, on behalf of its clients, is participating in the financing this project.

The scope of the Kenyatta Road and Mzimba Street Project includes upgrading the respective 3.9km and 3.96km existing roads to have six lanes with three lanes in each direction. The works will also involve construction of a partial cloverleaf interchange replacing the roundabout at Kamuzu Central Hospital.

The financing arrangement involves issuance of a fifteen year bond by the Roads Fund Authority, with Continental Asset Management, Old Mutual Investment Group and Standard Bank Malawi as participants in the bond. CAM has participated in the bond on behalf of various  pension funds under its management. Continental Asset Management is excited to be part of this progressive project, which is expected to transform the city’s outlook and foster increased economic activity in line with  Malawi Vision 2063.