Asset Recycling is an innovative initiative led by Africa50 for governments to monetize existing infrastructure assets through a concession to the private sector, reinvesting funds received in other priority projects.
The agreement with the Republic of Togo is expected to relieve the government of all or part of the debt associated with the Lomé-Kpalimé Road project, freeing up some budgetary space to allocate public investment to other priority infrastructures for the country . Road users would also benefit from an improved service in line with international standards through the creation of a new PPP.
Togo has invested heavily in its own infrastructure, including ports, where it has become a logistics hub, as well as roads and power. HE Faure Gnassingbé, President of the Republic of Togo said in his opening speech: “There is a huge need for infrastructure, without which development in Africa is impossible. This is the core of our roadmap. Private sector involvement in infrastructure is inevitable and this means we need to develop more bankable projects. Government involvement is also essential to attract foreign capital, which is why it is important that governments ensure a stable and transparent economic environment that is open to economic actors.”
Dr. Akinwumi Adesina, Chairman of the African Development Bank and Chairman of the Board of Directors of Africa50, reiterated in his keynote speech the bank’s commitment to Togo, where it has a portfolio of investments in transport, agriculture and private sector development projects. sector, and congratulated the government on the “bold and visionary step forward in finding alternative infrastructure financing solutions” through this new agreement with Africa50.
Alain Ebobissé, CEO of Africa50, commented: “We are committed to providing new solutions to tap new sources of capital and new investor groups. We are excited to partner with the government of Togo to leverage innovative tools Africa50 is known for.”
A number of other signings and announcements are scheduled for the next two days during the Forum.
More information about the program and the speakers can be found at:
Africa50 General Shareholders Meeting Opens with Inaugural Infra for Africa Forum and Signing of Historic Asset Recycling Agreement between the Republic of Togo and Africa50
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