Gabon Special Economic Zone rebrands as ARISE, AFC increases shareholding
Gabon Special Economic Zone has gone through a reorganisation that has resulted in the creation of three separate verticals; Arise Port & Logistics, ARISE Integrated Industrial Platforms and ARISE infrastructure Services. ARISE P&L now comprises 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 substantial experience in operating and developing transport and logistics infrastructure assets.
AFC announces an additional investment of EUR 48 million, increasing its stake in ARISE P&L from 21 per cent to 26 per cent with A.P. Moller Capital having 43 per cent ownership and Olam having 31 per cent.
The initial focus will be on investing in and expanding the ecosystem in existing mineral and general cargo ports in Gabon, as well as developing new infrastructure to support ecosystems in Mauritania, Cote D’Ivoire, Togo and Nigeria. Other projects include starting a new cargo port in Nouackchott (“ARISE Mauritania”) and a bulk terminal in San Pedro, Cote D’Ivoire – 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 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. This new platform will enable us replicate this success in other African countries. The combined expertise of AFC, A.P. Moller Capital and Olam will position this new venture as a strategic leader in infrastructure development in Africa. We are excited to see this grow.”