GAC supports the development of Boké with a contribution of 18.5 billion to the FODEL for 2022

Guinea Alumina Corporations S.A. (GAC) announced today that it has contributed 18.5 billion Guinean francs to the Boké Local Economic Development Fund (FODEL) for 2022, an increase of more than 28 over the previous year.

  • Home
  • Media Releases
  • GAC supports the development of Boké with a contribution of 18.5 billion to the FODEL for 2022

GAC supports the development of Boké with a contribution of 18.5 billion to the FODEL for 2022

Kamsar, Thursday, 11 May 2023 --- Guinea Alumina Corporations S.A. (GAC) announced today that it has contributed 18.5 billion Guinean francs to the Boké Local Economic Development Fund (FODEL) for 2022, an increase of more than 28% over the previous year.

The FODEL is a development fund financed by the Local Development contribution of each mining operation permit holder. The amounts paid into the FODEL must be used to finance infrastructure projects, basic social services and income-generating activities, thereby contributing to the development of entrepreneurship, local employment and human capital in the Boké region.

As a reminder, the FODEL was created by the Guinean government and became effective in 2020. The National Agency for the Financing of Local Communities is responsible for the operationalisation of the FODEL.

GAC is proud to support the local growth dynamics and development aspirations of the communities in the Boké region through this contribution, which is in line with GAC’s corporate social responsibility strategy to support local communities on a daily basis and create employment opportunities that meet their needs.

GAC’s 2022 FODEL contribution underlines its ongoing commitment to the welfare of local communities and the sustainable development of the Boké region. The company will continue to strengthen its collaboration with various stakeholders in support of the region’s economic and social growth.

You may also be interested in

GAC is first mining company to join Guinea’s Bourse de Sous-Traitance et de Partenariats

Guinea Alumina Corporation SA (GAC), one of Guineas mining industry leaders, and the Bourse de Sous-Traitance et de Partenariats (BSTP) are proud to announce that GAC has joined the BSTP, a platform promoting...

Read more

GAC: renewed confidence by the Guinean state

The Guinea Alumina Corporation SA (GAC) has just received the Guinean governments confidence in best practices with respect to environmental standards in the implementation of its project of export of bauxite in the Boké region.

Read more

GAC supports agricultural activities within Taïgbé communities

Guinea Alumina Corporation (GAC) is proud to announce that it will undertake a development and agricultural intensification study project for local communities on the island of Taïgbé.

Read more