Abidjan, June 7, 2023 – Africa50, a pan African investment company, has signed a Memorandum of Understanding with the Republic of Gabon for the development of power transmission lines in Gabon under a public-private-partnership framework.
The agreement was signed on Tuesday in Abidjan during the “Invest in Gabon” session as part of the Africa CEO Forum in Abidjan.
Mr Séverin Oswald Mayounou, the Gbonese Minister of Energy and Fishery Resources and Mr. Hugues Mbadinga Madiya, the Gabonese Minister of Investment Promotion and Public–Private Partnership, signed on behalf of the Republic of Gabon, while the Chief Executive of Africa50, Alain Ebobissé, signed on behalf of his company.
Mr. Alain Claude Bilié Bi Nzé, the Prime Minister of Gabon, in his opening speech at the “Invest in Gabon” session, expressed his government’s strong commitment to mobilise private investment in the country, particularly in the infrastructure sector.
He emphasized the need for speed in the execution of projects to support Gabon’s inclusive growth.
Speaking during a panel of discussion that followed the Prime Minister’s speech, Mr. Séverin Oswald Mayounou, the Gabonese Minister of Energy and Fishery Resources, specified the strong hydroelectric potential of Gabon and the pressing need for the transmission lines.
Mr. Hugues Mbadinga Madiya, the Gabonese Minister of Investment Promotion and Public-Private Partnerships, also highlighted the various investment opportunities in Gabon’s key sectors.
He highlighted some of the reforms the country had undertaken to promote private participation in the Gabonese economy.
During the signing ceremony, Mr. Alain Ebobisse, the CEO of Africa50 said: “We are pleased to have the opportunity to deploy our expertise in infrastructure development and financing in Gabon, particularly in the power transmission sub-sector, where Africa50 has pioneered the structuring of PPPs.
“Gabon has demonstrated its willingness to work with the private sector to achieve tangible results.
“We will spare no effort to move quickly and do it well, to support the future and promote sustainable prosperity for local populations and enterprises,” Ebobissé said.
Africa50 is an infrastructure investment platform that contributes to Africa’s growth by developing and investing in bankable projects, catalysing public sector capital, and mobilizing private sector funding, with differentiated financial returns and impact.
Africa50 currently has 33 shareholders, comprised of 30 African countries, the African Development Bank, the Central Bank of West African States (BCEAO), and Bank Al-Maghrib. For more information, visit: www.africa50.com. (GBN)
