Home Business Africa50 invests in One-Stop Joint Border Posts to boost regional trade

Africa50 invests in One-Stop Joint Border Posts to boost regional trade

by kenya-tribune

CASABLANCA, Morocco, Jan 21 – Africa50, the pan-African infrastructure investment platform and Tassec Investment Holdings Africa has announced the completion of Africa50’s equity investment into Scanning Systems, a company specialized in the design, financing, and implementation of One-Stop Joint Border Posts (JBPs) in Africa.

The investment will support Scanning Systems to develop JBPs and deliver efficient border management with modern facilities and tools, facilitate transit and increase traffic across the borders of Africa.

This is expected to significantly reduce transit time, enhance security and increase tax and customs revenue collection for national and local economies.

“We are delighted to become a shareholder of Scanning Systems which has demonstrated a unique ability to deliver One-Stop Joint Border Posts (JBPs) in complex environments across the continent,” Africa50 CEO Alain Ebobissé said.

“They are critical to driving an efficient and unified market and cross-border trade, while encouraging the development of regional value chains, a critical element to the success of the African Continental Free Trade Area (AfCFTA),” he added.

“We hope that our collaboration will provide the much-needed infrastructure to anchor Africa further in the world economy, drive industrialization and help the continent diversify its exports.”

Over the past years, Scanning Systems has become the preferred partner of the West African Economic and Monetary Union (WAEMU) for the implementation of JBPs among its Member States.

The company has been successfully operating the Cinkansé JBP between Burkina Faso and Togo for 10 years and is constructing two additional JBPs in Zégoua (Côte d’Ivoire-Mali border) and Laléraba (Burkina Faso-Côte d’Ivoire border).

As a strategic shareholder of Scanning Systems, Africa50 will bring its extensive experience in infrastructure project development and management to support the implementation of the company’s projects, as well as the expansion of its footprint across the region.

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Africa50 will also leverage its strong relationships with its shareholders to unlock opportunities for Scanning Systems.

“This partnership is critical in supporting the development of the right infrastructure to support intra-African trade and the AfCFTA’s objectives of creating a unified market to spur economic development for the continent,” Mory Diané, CEO of Scanning Systems said.

“Africa50’s reputation, substantial financial resources and extensive network make them ideal partners and I am confident that our combined leadership will drive the development of infrastructure and systems that will scale the movement of goods and services across African borders,” the CEO added.

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