Meridiam has invested in a port operator in Gabon that is aiming to be a gateway for industry and trade in Central Africa.
The French fund manager bought a 25 percent stake in GSEZ Mineral Port, a company operating port facilities in Gabon that connect maritime trade to mines and industrial sites in Central Africa. The port operator’s parent organisation, the Gabon Special Economic Zone SA, will maintain a 75 percent stake.
Meridiam invested through its €300 million Infrastructure Africa Fund to develop the port’s capabilities “as the region’s leading gateway to and from Central Africa”, according to a statement.
The 2015-vintage vehicle has been supported by Allianz and Proparco, as well as with €30 million from the European Investment Bank and $32 million from the UK’s CDC Group. Earlier this month, the fund partnered with EDF to invest in distributed renewable energy projects, with a focus on battery storage.
GSEZ was established in 2010 as a joint venture between Olam International, Gabon and Africa Finance Corporation. The organisation focuses on building large-scale infrastructure including industrial parks, ports, airports, power and water lines.