Hogan Lovells advises Proparco and EAIF on the financing of Dakar's future electric BRT bus network

Press releases | 19 December 2023

Paris, 19 December 2023 – Global law firm Hogan Lovells has advised Proparco and Emerging Africa Infrastructure Fund (EAIF) on the financing of Dakar's future 100% electric BRT bus network, operated by Dakar Mobilité.

The €135 million financing is comprised of an €85.4 million loan provided in equal parts by Proparco and EAIF, a €7 million grant from the European Union, and a grant of around €9 million from PIDG TA. Proparco and EAIF are also providing Dakar Mobilité with a €6.4m loan to finance the replacement of the bus batteries at the end of their service life (eight years). The balance is being provided by Meridiam and FONSIS.

Aiming to carry 300,000 passengers a day, the BRT is the first 100% electric bus project in sub-Saharan Africa. It is part of the strategy to move towards sustainable urban mobility. This innovative project will help to reduce the country's greenhouse gas emissions.

The system should be fully operational by summer 2024.

The Hogan Lovells team comprised Olivier Fille-Lambie and Bruno Cantier (partners), Perrine Limousin (counsel), Alexandre Salem (senior associate) and Jeangély Ampion Liyono (associate) in project finance.