Business

Gabon Special Economic Zone (GSEZ) has Undergone via a reorganisation that has resulted in the advent of three separate verticals; Arise Port & Logistics (ARISE P&L), ARISE Integrated Industrial Platforms and ARISE infrastructure Services. ARISE P&L now involves of A.P. Moller Capital, Olam International (Olam) and AFC. AFC has partnered with Olam since the investment in GSEZ in 2016, while the new investor, A.P. Moller Capital, has enormous experience in working and developing transport and logistics infrastructure assets.

AFC announces an extra investment of EUR 48 million, growing its stake in ARISE P&L from 21% to 26%, with A.P. Moller Capital having 43% ownership and Olam having 31%. The initial focus will be on investing in and expanding the ecosystem in present mineral and general cargo ports in Gabon, as well as creating new infrastructure to support ecosystems in Mauritania, Cote DIvoire, Togo and Nigeria. Other projects encompass beginning a new cargo port in Nouackchott (ARISE Mauritania) and a bulk terminal in San Pedro, Cote DIvoire both of which are already in advanced stages of development.

Samaila Zubairu, President & CEO of AFC, commented: This is a significant milestone for the development of AFCs ecosystem strategy in West Africa. We are very proud of the growth made in diversifying the economy of Gabon to encompass value addition of forestry and mineral resources. This new platform will allow us replicate this success in other African countries. The mixed expertise of AFC, A.P. Moller Capital and Olam will position this new venture as a strategic leader in infrastructure improvement in Africa. We are excited to see this grow.

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