The Republic of Chad begins on-boarding process to join Africa50 as new Shareholder

Marrakech, 17 October 2023 – The Republic of Chad, and Africa50, the pan-African infrastructure investment platform, announced today, the on-boarding process for the Republic of Chad as a new Shareholder country.

The Minister of Finance, Budget and Public Account of Chad, Hon. Tahir Hamid Nguilin, signed the necessary documents on behalf of the Government, committing Chad to take the necessary steps to become an Africa50 Shareholder.

The signing was held on the sidelines of the just-ended Annual Meetings of the World Bank Group and the International Monetary Fund in Marrakech, Morocco.

“The Republic of Chad is looking forward to officially joining Africa50, as we share in the ambitions of the organization. Infrastructure is the backbone of every economy, and in the case of Chad, we are looking forward to taking full advantage of the Project Development and Project Finance expertise of Africa50 to advance the infrastructure agenda of our country”, Hon. Tahir Hamid Nguilin, Minister of Finance, Budget and Public Account, remarked.

Alain Ebobissé, CEO of Africa50 commented, “We are pleased to expand our pan-African footprint by welcoming the Republic of Chad to the Africa50 as our aim is to cover all countries on the continent. We look forward to being able to contribute to the country's priority infrastructure development programme in the near future”.

Africa50 has made 22 investments, with an aggregate value of over US$6.6 billion. In the energy sector alone, over 17 million people are accessing reliable and cleaner electricity as a result of projects financed by Africa50. In addition to its investments in energy, Africa50’s diverse portfolio of investments includes sectors such as transport and logistics, ICT, midstream gas, education, healthcare as well as fintech.

 

-ENDS-

 

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 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.

 

Media Contact:

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

Category: Press Release