The Republic of Gabon and Africa50 sign a framework agreement for the development and financing of transmission lines

Abidjan, June 7, 2023 – Africa50 announced the signing of a Memorandum of Understanding with the Republic of Gabon for the development of power transmission lines in the country under a public-private-partnership framework. The agreement was signed yesterday during the Invest in Gabon session organized as part of the Africa CEO Forum in Abidjan.

Mr. Séverin Oswald Mayounou, the Minister of Energy and Fishery Resources, and Mr. Hugues Mbadinga Madiya, the Minister of Investment Promotion and Public-Private Partnerships, signed on behalf of the Republic of Gabon while CEO Alain Ebobissé signed on behalf of Africa50.

In his opening speech for the Invest in Gabon session, H.E. Mr. Alain Claude Bilié Bi Nzé, Prime Minister of Gabon, expressed the government’s strong commitment to mobilize 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 that followed the Prime Minister's speech, Mr. Séverin Oswald Mayounou specified the strong hydroelectric potential of Gabon and the pressing needs in terms of transmission lines. Mr. Hugues Mbadinga Madiya also highlighted the various investment opportunities in Gabon's key sectors, while underscoring the reforms that the country has undertaken to promote private participation in the Gabonese economy.

During the signing ceremony, Mr. Alain Ebobissé, 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".

About Africa50:

Africa50 is an infrastructure investment platform that contributes to Africa's growth by developing and investing in bankable projects, catalyzing public sector capital, and mobilizing private sector funding, with differentiated financial returns and impact. Africa50 currently has 34 shareholders, comprised of 31 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.

Media Contact:

Africa50: Nana Boakye-Yiadom, Senior Communications Coordinator, Tel: +212666166308, n.boakyeyiadom@africa50.com

Category: Press Release