A major milestone took place as Mozambique joins Africa50 – an agreement was sign in starting the process for the country to formally integrate the pan-African infrastructure investment platform last Friday intended to catalyse energy, transport and digital connectivity projects locally.
Inking the agreement, Minister of Economy and Finance Ernesto Max Elias Tonela heralded the collaboration as instrumental to accelerate attainment of infrastructural targets through private sector participation. Africa50 possesses extensive project development and financing expertise Minister Tonela suggested could propel the economy.
When ratified, Mozambique will constitute Africa50‘s 35th shareholder – joining 32 other African states plus multilateral institutions in pursuit of the US$7.1 billion fund’s mandate closing the continent’s infrastructure gap.
An initial cooperation sealed last November seeks development of 260MW solar capacity under public-private partnership models alongside 400km transmission infrastructure as major early targets.
On his remarks Africa50 CEO Alain Ebobissé highlighted the “One Stop Border” project, part of measure 11 of Mozambique’s stimulus package (PAE) in the Ressano Garcia border with South Africa as “very important” and pointed that the partnership remained amenable to supporting Maputo’s broader infrastructure vision.
As Mozambique joins Africa50 analysts noted that the platform boasts niche capacities spanning project cycle needs from early equity and technical assistance through construction equity and commercial operation. Hence the vehicle could prove decisive convening project stakeholders toward financial close.