According to East African Business Week (published in Kampala), the restructuring exercise of the Rift Valley Railways (RVR) consortium, which operates the Kenya and Uganda railways, has been completed.
This development gives Citadel Capital a controlling stake in the new company Rift Valley Railways International (RVRI), the entity that owns 100% of each of the Kenya and Uganda railway concessions. Citadel has confirmed that its shareholding in RVRI has risen to 51% through its subsidiary Ambiance Ventures Ltd.
RVRI’s other shareholders include Trans-Century Limited, a Kenya-based investment company (34%) and Bomi Holdings Ltd, a Ugandan private investor (15%). “Citadel Capital and the other RVRI shareholders are finalising a sustainable business and investment plan that includes a $US287 million capital expenditure programme to rehabilitate infrastructure and rolling stock. The firm intends to strengthen RVRI’s management team and is in “advanced stages of negotiation with a global rail consultant to bring in international best practices.”
“Citadel Capital will look to inject more than $150 million in the Kenya-Uganda Railway over the coming five years,” Citadel managing director Karim Sadek says.

Original article [Railways Africa]