Botswana and Zambia collectively own the bridge, funded by toll fees and administered by the Kazungula Bridge Authority, which was created to operate and maintain the infrastructure on behalf of the two nations. The project cost $259m, with finance provided by the two governments, the African Development Bank, the Japanese International Cooperation Agency and the European Union-Africa Infrastructure Trust Fund. Trade specialists say that trading infrastructure development is a key driver for the progress and sustainable economic growth of the African continent. Carlos Lopez, economist and professor at the University of Cape Town, says the Kazungula Bridge will dramatically reduce the time and cost of moving freight, building on the example of the “game-changing” Senegambia Bridge between Senegal and Gambia. Despite its grand entry, the opening of the Kazungula Bridge has been marred by concerns over what some trade bodies have described as exorbitant toll fees, which they say could seriously undermine trade unless reduced. The border authority is charging $6 for bikes, $15 for small cars, $65 for a bus with a trailer and $85 for a truck with a trailer.
SOURCE: AFRICAN BUSINESS
More Stories
Tunisian City Attracts a New Type of Tourist
DYK that the Green Point Lighthouse is the Oldest Operational Lighthouse in South Africa?
This Mauritian Resort is the Definition of Relaxation
Who Wouldn’t Happily Take a trip to Seychelles at Any Given Point in the Year?
Your July Destination is Sorted
A Gourmet Revival of Sierra Leone’s Bold Flavours
A Continental Visionary Design Indaba Emerging
How David Ochieng Uses Fashion to Positively Impact Kenyan Communities
Mbongeni Buthelezi: The South African Artist Turning Plastic into Portraits
What Tems’ Global Success Means for Women in African Music
Radisson Blu Hotel Is Officially Open In Durban
Hilton Closes Shop in Nairobi