GAC renews its commitment to APIP to enhance investment prospects in Guinea

Kamsar, Wednesday, March 6, 2024 --- Guinea Alumina Corporation S.A. (GAC) announced today its participation as an Elite Partner for the 3rd edition of the Guinea Investment Forum (GUIF3), which is being organized by the Agence de Promotion des Investissements Privés (APIP) in Conakry on March 5th and 6th, 2024. This strategic partnership showcases GAC's dedication to fostering Guinea's economic growth and promoting sustainable development.

The Guinea Investment Forum (GUIF) is a significant initiative designed to boost the country's economic development by showcasing profitable projects and creating investment opportunities in promising sectors. This platform also aims to mobilize financing for both public and private projects, with a view to attract a substantial amount of capital to bolster economic growth in Guinea.

At GAC, we firmly believe in the importance of promoting frameworks that not only encourage reflection, but also provide concrete opportunities for project leaders to bring their ideas to life. Following the success of the 2nd edition in Dubai, we are confident that this year will witness the development of projects poised to make a substantial impact on Guinea's economy and its local communities.

We encourage Guinean companies to seize this opportunity to position themselves. We believe that they are the foundation of a strong and resilient national economy. That's why, over and above what the regulations recommend, since 2020 GAC has set itself the target of using local suppliers to provide 50% of its services and goods purchases by 2025. We are implementing this by providing ongoing support for small and medium-sized local businesses through the Subcontracting and Partnership Exchange (BSTP). Capacity-building programmes have been under way since 2023 in collaboration with the International Finance Corporation to better position them in relation to international companies.

We encourage Guinean companies to leverage this opportunity to establish themselves in the market. We firmly believe that these companies are the cornerstone of a robust and resilient national economy. Since 2020, GAC has set a goal to ensure that 50% of our services and purchases of goods are sourced from local suppliers by 2025, surpassing regulatory thresholds. To achieve this goal, we provide ongoing support to local SMEs through the Guinean subcontracting and partnership exchange (BSTP). Capacity-building programs have been in progress since 2023, in collaboration with the International Finance Corporation (IFC), to enhance the competitiveness of these SMEs in the global market.

Supporting this major initiative is also a way for us to reach out to sectors other than mining. We hope that Guineans' projects in all possible sectors will find favour with financial institutions and strategic partners.

Supporting this significant initiative is part of our commitment to extending our reach beyond the mining sector. We aim for the projects initiated by Guineans in various sectors to attract interest from financial institutions and strategic partners.