President Barrow at the Senegambia Bridge
By Buba Gagigo
Africa50, a pan-African infrastructure investor and asset manager, has officially taken over the operations of the Senegambia Bridge, following the disbursement of an initial $15.5 million as part of a $100 million Asset Recycling Programme in partnership with the Government of The Gambia.
Africa50 stated that its goal is to promote Africa’s development by investing in sustainable infrastructure projects, utilizing public sector funding, and attracting private sector investments to generate financial returns while creating positive social and economic impacts.
Last year, the Government of The Gambia and Africa50 signed a Shareholder’s Agreement, leading to the formation of the TransGambia Bridge Company Ltd. This special purpose vehicle will be responsible for operating and maintaining the Senegambia Bridge under Africa50’s Asset Recycling Programme.
In a statement, Africa50 said “Africa50, the pan-African infrastructure investor and asset manager, has officially assumed operations of the Senegambia Bridge after disbursing the first $15.5 million tranche of a $100 million Asset Recycling programme with the Government of The Gambia. The project will be managed by the newly established Transgambia Bridge Company Ltd., created through a Shareholder’s Agreement between both parties. This important milestone signifies the start of extensive upgrades to improve operational efficiency and maximize regional trade as part of Africa50’s flagship Asset Recycling Program,”
Regarding the upgrade works, Africa50 announced that a recent groundbreaking ceremony at the Senegambia Bridge marks the beginning of the following improvements:
● The construction of a new Administrative Block
● The construction of a new Operations and Maintenance Centre
● The Modernization of the two toll plazas including the installation of new toll booths, IT equipment, surveillance systems and construction of new canopies
● The construction of two new Weighing Stations on each side of the bridge
Africa50 is backed by 35 shareholders, including 32 African countries, the African Development Bank, the Central Bank of West African States (BCEAO), and other financial institutions.