ABSTRACT
Railways offer cost-effective platforms for cross-border trade. In response, successive governments have developed innovative financing mechanisms. Although PPPs are considered a funding mechanism, they have been criticized. Many studies have examined PPP-financed rail infrastructure in developing countries (Africa), but little attention has been paid to bankability. Through the identification of critical success factors, this study contributes to bridging the knowledge-practice gap for railway infrastructure projects. A case study design strategy was adopted focusing on projects delivered within Southern Africa. Data were obtained from a purposively selected panel of respondents (n=13) via an interview, and a Delphi questionnaire was administered to the panel over three iterations. The data were analyzed using thematic analysis and descriptive statistics respectively. In the study, a number of critical success factors were identified that can enhance railway infrastructure project bankability. These findings will be used in the future to improve the bankability of these projects.
