Duna Aszfalt has repaid the full amount of the bonds relating to the Kasomeno–Mwenda project to Eximbank and MFB, including all interest. Since last November, the company has paid more than 10 billion forints in interest to the state-owned banks. The surrender of the bonds does not affect the implementation of the investment: the GED Africa project is currently 40 per cent complete and, with a stable financial backdrop, is proceeding according to plan.
With the repayment of the loan, indirect state financing of the project has come to an end, and the associated state guarantee has also been terminated. This means that, in future, the Hungarian state – and thus taxpayers – will not bear any financial risk in connection with the project.
Taking into account the Hungarian state’s position regarding the previous financing arrangement, the Duna Group initiated the voluntary surrender of the bonds. The process has been completed: the group has fulfilled its payment obligations to Eximbank and MFB, meaning that the project’s financing will continue without any further financial involvement from the Hungarian state.
The surrender of the bonds creates a clear and predictable situation for the project’s international partners. It is particularly important for the Duna Group that an international investment of this significance is carried out in a stable environment, and that financial issues surrounding the project do not affect the international business credibility and reputation of either the group or Hungary.
“The repayment of the loan sends a clear message to all partners in the project: the Kasomeno–Mwenda investment has a stable financial foundation and is proceeding according to plan. Duna Aszfalt has fulfilled all its payment obligations to Eximbank and MFB, whilst the future financial risk associated with the state guarantee has also been eliminated. It is of paramount importance to the group that, through its international activities, it strengthens the reputation of Hungarian engineering expertise and professional performance, thereby also contributing positively to Hungary’s international business reputation,” said Attila Kerékgyártó, Chairman of the Board of Directors of Duna Aszfalt Zrt.
The Duna Group prevailed on all points of dispute in the international legal dispute initiated in July 2024 by one of the owners of GED Africa Limited. The proceedings concerned certain issues relating to the syndicated loan agreement for GED Africa Limited. In its ruling handed down in September 2026, the International Chamber of Commerce (ICC) Arbitration Tribunal ruled in favour of the Duna Group’s position on all substantive issues of the proceedings, thereby bringing the dispute to a complete close.
The Kasomeno–Mwenda infrastructure development project is creating a new transport and trade link between the Democratic Republic of the Congo and Zambia. As part of this 25-year cooperation, nearly 184 kilometres of road infrastructure, a new 362-metre cable-stayed bridge, two state-of-the-art border posts, and an electronic toll collection and operational system are being built.
The significance of the investment extends far beyond the development of transport between the two countries. The new road forms part of a trade corridor of global significance, linking the Central African copper belt – rich in strategic raw materials – more efficiently with the port of Dar es Salaam in Tanzania and, through it, with the global market. The new link shortens the transport route by some 500 kilometres and drastically reduces waiting times at the border.
The Kasomeno–Mwenda investment is a pilot project for the Duna Group. The group is applying its more than thirty years of experience in infrastructure development in Hungary, its engineering expertise and its digital solutions to the African context, whilst also facilitating knowledge transfer and professional capacity-building in collaboration with local experts.
Building on the experience gained here, the Duna Group is also considering the implementation of further African infrastructure development projects in the future.
The Duna Group is one of Central and Eastern Europe’s leading construction groups, with Duna Aszfalt Zrt. as its flagship company. The company has been carrying out complex transport and infrastructure development projects for more than three decades and employs over 3,500 staff in Hungary and through its international subsidiaries. In addition to Hungary, the group is present in several other European countries and is playing an increasingly significant role in the implementation of international project development and concession projects. Its activities range from project development and financing, through design, construction and the application of digital engineering solutions, to long-term operation and maintenance.
GED Africa Ltd. is the Duna Group’s African project company, responsible for the implementation and long-term operation of the Kasomeno-Mwenda toll road infrastructure development project. The project is being carried out in the Democratic Republic of the Congo and the Republic of Zambia
