During a ceremony held last Friday, 9 February, the Minister of Economy and Finance, Ernesto Max Tonela, signed Mozambique’s Subscription Agreement as a shareholder of Africa50 – a pan-African infrastructure investment platform – becoming the institution’s 35th shareholder and pledging to ratify the agreement under the terms of the platform’s statutes.
By joining Africa50, Mozambique will have access to world-class expertise in project development and financing, accelerating the implementation of the infrastructure programme and stimulating private sector participation to boost economic growth. This partnership strengthens Africa50’s presence, now made up of 35 shareholders, including 32 African countries and financial institutions, explains a statement from the Ministry of Economy and Finance (MEF).
According to the document, the agreement follows a Memorandum of Understanding signed during COP28, aimed at developing four projects in Mozambique, including three solar photovoltaic plants and 400 kilometres of transmission lines.
At the ceremony, Max Tonela stressed that the government intends to significantly stimulate economic growth and development by catalysing the participation of the private sector, as it has done with initiatives such as the PAE – Economic Acceleration Package.
On the same occasion, Africa50’s CEO, Alain Ebobissé, mentioned one of the main projects that the organisation intends to fund, highlighting the “Single Border” that is part of the 11th measure of the SAP.
“We’re also working on a very important project for the government, the One Stop Border, which we’re speeding up to implement in order to smooth out the traffic situation. We hope to continue working with the Mozambican government, under the leadership of President Filipe Nyusi, to support it in this regard,” he explained. He added: “The president of the African Development Bank, Akinwumi Adesina, hopes to work closely with the Mozambican government and, more importantly, to finance this [Single Border] project”.
The Africa50 initiative brings together the development and financing of projects on a single platform, seeking to support them at all stages of their cycle, through three investment vehicles: Africa50 – Project Development; Africa50 – Project Financing; and the Africa50 Infrastructure Acceleration Fund (IAF).
