Africa50 invests in Scanning Systems to boost regional trade

Spread the love

Casablanca/Abidjan, Jan. 18, 2023 – Africa50, the pan-African infrastructure investment platform and Tassec Investment Holdings Africa have announced the completion of Africa50’s equity investment in Scanning Systems.

Scanning Systems is a company specialised in the design, financing, and implementation of One-Stop Joint Border Posts (JBPs) in Africa.

Africa50 said in a statement on Wednesday that the investment would support Scanning Systems to develop JBPs and deliver efficient border management with modern facilities and tools, facilitate transit and increase traffic across the borders of Africa.

“This is expected to significantly reduce transit time, enhance security and increase tax and customs revenue collection for national and local economies.

“Over the past years, Scanning Systems has become the preferred partner of the West African Economic and Monetary Union (WAEMU) for the implementation of JBPs among its member states.

“The company has been successfully operating the Cinkansé JBP between Burkina Faso and Togo for 10 years and is constructing two additional JBPs in Zégoua (Côte d’Ivoire-Mali border) and Laléraba (Burkina Faso-Côte d’Ivoire border),” it said.

It said that as a strategic shareholder in Scanning Systems, Africa50 would bring its extensive experience in infrastructure project development and management to support the implementation of the company’s projects, as well as the expansion of its footprint across the region.

“Africa50 will also leverage its strong relationships with its shareholders to unlock opportunities for Scanning Systems.”

Alain Ebobissé, the Chief Executive of Africa50,  said: “We are delighted to become a shareholder of Scanning Systems which has demonstrated a unique ability to deliver One-Stop Joint Border Posts (JBPs) in complex environments across the continent.

They are critical to driving an efficient and unified market and cross-border trade, while encouraging the development of regional value chains, a critical element to the success of the African Continental Free Trade Area (AfCFTA)”, said. 

“We hope that our collaboration will provide the much-needed infrastructure to anchor Africa further in the world economy, drive industrialization and help the continent diversify its exports”.  

Mory Diané, the Chief Executive of Scanning Systems, also commented: “This is the right time to welcome Africa50 as a strategic partner to support Scanning Systems’ ambitious development plan for One-Stop Joint Border Posts (JBP) in West Africa.

This partnership is critical in supporting the development of the right infrastructure to support intra-African trade and the AfCFTA’s objectives of creating a unified market to spur economic development for the continent.

Africa50’s reputation, substantial financial resources and extensive network make them ideal partners and I am confident that our combined leadership will drive the development of infrastructure and systems that will scale the movement of goods and services across African borders”. (GBN)

Leave a Reply

Your email address will not be published. Required fields are marked *