Duna Aszfalt paid more than 10 billion forints in interest to state-owned banks

Duna Aszfalt has fully repaid the principal and all interest on the bonds issued by Eximbank and MFB in connection with the Kasomeno–Mwenda project, according to a statement the company sent to our newspaper. They add that since last November, the company has paid more than 10 billion forints in interest to state-owned banks. The redemption of the bonds does not affect the implementation of the investment: the GED Africa project is currently at a 40% stage of completion and, with a stable financial background, is proceeding according to plan.

With the repayment of the loan, the indirect state funding of the project has come to an end, and the associated state guarantee has also been withdrawn. This means that, in future, the Hungarian state – and therefore taxpayers – will not bear any financial risk in connection with the project.

They remind us, Duna Group initiated the voluntary redemption of the bonds, taking into account the Hungarian state’s position regarding the previous financing arrangement. The process has been completed: the group has fulfilled its payment obligations in respect of Eximbank and MFB, meaning that the project’s financing will continue without further financial involvement from the Hungarian state.

The project is continuing with a stable financial foundation

The statement emphasises that the redemption of the bonds creates a clear and predictable situation for the project’s international partners. They explain that it is particularly important for Duna Group that an international investment of this significance be 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 of companies 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 progressing according to plan”

– said Attila Kerékgyártó, Chairman of the Board of Directors of Duna Aszfalt Zrt..” Duna Aszfalt has fulfilled all its outstanding 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 achievement, thereby contributing positively to Hungary’s international business standing.”

The international dispute concerning GED Africa has been resolved favourably

They also note that the Duna Group prevailed on all disputed points in an international dispute initiated in July 2024 by one of the owners of the GED Africa Limited. The proceedings concerned certain issues relating to the syndicate agreement for the GED Africa Limited.

In its decision handed down in September 2026, the arbitral tribunal in case Nemzetközi Kereskedelmi Kamara (ICC) ruled on all substantive issues of the proceedings in accordance with the position taken in case Duna Group, thereby bringing the legal dispute to a complete conclusion.

Construction work is continuing at full speed

The Kasomeno–Mwenda infrastructure development project establishes a new transport and trade link between the Democratic Republic of the Congo and Zambia. As part of this 25-year partnership, 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 management system will be built.

The significance of this investment extends far beyond the development of transport links between the two countries. The new road forms part of a trade corridor of global importance, which connects 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 around 500 kilometres and drastically reduces waiting times at the border.

Duna Group is thinking long-term in Africa

The press release concludes by explaining that the Kasomeno–Mwenda project is a pilot project for 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, Duna Group is also considering implementing further African infrastructure development projects in the future.