Gabon: Africa50 Signs Agreement to Support Transmission Lines

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”.