Owendo Port set to become Central Africa region's import, export hub

The Owendo Port in Gabon stands as a beacon of economic transformation not only for the country but for the entire Central Africa region. Dr. Adesegun Akin-Olugbade, the COO and General Counsel of the African Finance Corporation, emphasized the significance of this modern port during a recent interview with CNBC Africa. According to Dr. Akin-Olugbade, Owendo Port is poised to become a vital hub for the Central African region, offering unprecedented opportunities for the import and export of agricultural produce. The completion of this project within a record 18-month timeframe showcases the remarkable feat achieved through strategic partnerships and efficient project execution. With this monumental infrastructure development, Owendo Port is set to revolutionize trade dynamics and bolster economic growth across the region. Dr. Akin-Olugbade commended the leadership in Gabon for their foresight in realizing the potential of Owendo Port as a pivotal trade gateway. The port's strategic location and state-of-the-art facilities position it as a cornerstone for facilitating seamless commerce within Central Africa. By streamlining the import and export processes for agricultural goods, Owendo Port is poised to catalyze economic progress and foster regional integration. The successful completion of this ambitious infrastructure project underscores the importance of public-private partnerships in addressing Africa's infrastructure deficit. African Finance Corporation's pivotal role as an equity investor in Owendo Port exemplifies the organization's commitment to driving infrastructure development on the continent. By collaborating with esteemed partners such as the government of Gabon and Olam, AFC demonstrated its confidence in the project's success. Dr. Akin-Olugbade highlighted the significance of selecting the right sponsors and fostering close collaboration between all stakeholders to ensure the project's seamless execution. The relentless pursuit of infrastructure financing by AFC underscores the organization's dedication to bridging the infrastructure gap in Africa. Over the past decade, AFC has emerged as a key player in financing large-scale infrastructure projects across the continent. Through strategic partnerships with prominent financial institutions and regional development banks, AFC continues to lead the charge in transforming Africa's infrastructure landscape. In conclusion, the inauguration of Owendo Port symbolizes a landmark achievement in Africa's infrastructure development journey. The port's role as a trade hub for Central Africa signifies a new era of economic prosperity and cross-border trade facilitation. Dr. Akin-Olugbade's insights shed light on the transformative power of infrastructure projects and the pivotal role of partnerships in driving sustainable development across the continent.