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On the sidelines of the Annual Meetings of the International Monetary Fund (IMF) and the World Bank in Marrakech, Morocco, the Africa50 investment platform has pledged to support infrastructure projects in the West African Economic and Monetary Union (WAEMU).
On the sidelines of the Annual Meetings of the International Monetary Fund (IMF) and the World Bank in Marrakech, Morocco, the Africa50 investment platform has pledged to support infrastructure projects in the West African Economic and Monetary Union (WAEMU).The key players in the global economy have been meeting since 9 October 2023 in Marrakech, Morocco, for the Annual Meetings of the International Monetary Fund (IMF) and the World Bank. On the sidelines of this event, the Africa50 investment platform signed an agreement with the Commission of the West African Economic and Monetary Union (WAEMU) to implement infrastructure projects.
The partnership covers infrastructure development in Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal and Togo. Africa50 will mainly support the development of transport infrastructure with a focus on transnational border crossings. This partnership has been announced at a time when West Africa is buzzing with the Lagos-Abidjan motorway project.
The mega-project, which will require an investment of 15 billion dollars, is expected to link several WAEMU cities, including Abidjan in Ivory Coast, Lomé in Togo, and Cotonou in Benin, via a 1,081 km corridor. A real development project that will contribute to the implementation of the Continental African Free Trade Area (CAFTA), thus facilitating the transport of goods in the sub-region.
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Africa50’s commitment to supporting the implementation of energy projects within WAEMU is also part of this plan. Among the emblematic projects underway in the sub-region is the West African Power Pool (WAPP), an integration initiative implemented in December 1999 to create an integrated energy market. This interconnected network is fed by a number of renewable energy plants, such as the 140 MW Gouina hydroelectric scheme commissioned over a year ago in Mali. In addition to energy, Africa50 will finance information and communication technologies (ICTs).
