Africa Finance Corporation (AFC) announced its investment in Mahathi Infra Uganda, one of East Africa’s largest oil and gas downstream players.

AFC’s $95.25 mn investment will finance the construction of two self-propelled barges for operation on Lake Victoria, providing a more efficient and less carbon-intensive alternative to trucking.

Samaila Zubairu, AFC: "We are contributing to transformation of petroleum transportation in Uganda with lower-emissions alternative that cuts costs, reduces road congestion, and improves mobility.”

The financing will also support enabling infrastructure including 14 petroleum storage tanks, 20 truck loading bays, a jetty, and a parking lot with a capacity of 50 trucks.

Uganda is a net importer of petroleum products, primarily through the Mombasa Port in Kenya. A single barge trip on Lake Victoria can replace 200 trucks on the road.

Annually, AFC’s investment will eliminate approximately 100,000 truck journeys on East Africa’s busiest transport route – from Kisumu, Kenya, to Kampala, Uganda.

Upon completion, Mahathi's workforce is estimated to increase from 22 to 100 employees, 30% of whom will be women.

The project's impact extends beyond Uganda, serving as a foundation for future expansions into other landlocked countries near Lake Victoria.