Africa Finance Corporation (AFC) has increased it stake in Gabon’s Special Economic Zone (SEZ) from 21% to 26%, after investing an additional $52.8 million.
Since its inception in 2010, Gabon’s SEZ has grown into three parts; Arise Port & Logistics, ARISE Integrated Industrial Platforms and ARISE infrastructure Services. With the new capital investment, AFC will thus increase its stake in ARISE P&L, while A.P. Moller Capital and Olam(which are partners in the project with AFC) will have 43% and 31% ownership, respectively.
“This is a significant milestone for the development of AFC’s ecosystem strategy in West Africa. We are very proud of the progress made in diversifying the economy of Gabon to include value addition of forestry and mineral resources.” AllAfrica quotes, in part, Samaila Zubairu, President & CEO of AFC.
The SEZ, spanning across 1,350 hectares of land, currently hosts more than 155 investors from more than 17 countries, especially in the fields of forestry and logging. It’s main objective is to develop infrastructure, enhance industrial competitiveness and build a business-friendly ecosystem.
On its side, AFC has invested over $6.3 billion in projects within 30 countries across Africa.