AFC invests $140 million in special economic zone

folarin okunola

April 11, 2016 2:06 PM

The venture, which has a portfolio of infrastructure projects spanning various sectors, combines the expertise, networks and capital of both the public and private sectors

Gabon's President Ali Bongo Ondimba addresses attendees during the 70th session of the United Nations General Assembly at the U.N. headquarters in New York, September 28, 2015.

According to various media reports, the

The venture, which has a portfolio of infrastructure projects spanning various sectors, combines the expertise, networks and capital of both the public and private sectors, media reports say.

AFC’s investment will contribute to the development of projects, which include: a new Mineral Terminal, a General Logistics terminal, as well as other special infrastructure projects.

According to a statement, GSEZ also owns and operates the Nkok Special Economic Zone and the Port Gentil Special Economic zone, which is in early development.

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“I am pleased to be entering into this agreement with Africa Finance Corporation. It will allow us to develop GSEZ’s existing infrastructure and implement a number of new projects. Our relationships with influential private sector institutions are crucial to the successful implementation of large scale infrastructure projects. Ultimately these projects will drive Gabon’s economic development and improve the lives of Gabonese citizens,” said Mr. Ali Bongo Ondimba, President of the Republic of Gabon, commenting on the announcement at the signing of the agreement in Libreville this week.

The GSEZ was created in 2010 to fast-track Gabon’s economic diversification and development and is a joint venture vehicle between Olam International, a leading agricultural business, and the government of the Republic of Gabon.

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