Guinea Alumina Corporation (GAC) today signed an agreement to sponsor the Guinea Investment Forum 2022. The agreement was signed by Namory Camara, Commissioner General for Guinea at Expo 2020 Dubai, and Malick NDiaye, Director General of GAC.
United Arab Emirates, 10 February 2022 - Guinea Alumina Corporation (GAC) today signed an agreement to sponsor the Guinea Investment Forum 2022.
The agreement was signed by Namory Camara, Commissioner General for Guinea at Expo 2020 Dubai, and Malick N’Diaye, Director General of GAC.
The Guinea Investment Forum is an annual event held by the Private Investment Promotion Agency (APIP-Guinea) and its partners, the African Development Bank (ADB) and the World Bank Group through its subsidiary, the International Finance Corporation (IFC). It aims to connect business opportunities with investors from both Guinea and abroad.
This year, the Guinea Investment Forum is being held overseas for the first time, at Expo 2020 Dubai. Guinea is one of 192 countries exhibiting at the world fair.
GAC invested some $1.4 billion in the largest greenfield mining project in Guinea in the past 40 years. GAC directly provides works to almost 3,000 people in Boké Province, 93% of which are Guinean nationals. The company’s purchase of goods and services from local suppliers reached $112.3 million in 2021.
Namory Camara, Commissioner General for Guinea at Expo 2020 Dubai, said: “At the Guinea Investment Forum, we will present business opportunities in Guinea in sectors ranging from mining to agriculture and energy. The support of GAC as a prominent investor in Guinea can only help make this year’s Guinea Investment Forum even more successful. For years now, GAC has been a perfect example of a successful partnership between Guinea and a private company. Through the GUIF, which this year is taking place in Dubai, at the crossroads of the world, we aim to attract even more stakeholders with whom to carry our successful partnerships.”
Malick N’Diaye, Director General of GAC, said: “GAC has made a substantial investment in Guinea, and we are proud of our accomplishments in the Boké Province and Guinea as a whole. We hope our sponsorship of the Guinea Investment Forum and our own experience as investors will encourage other companies from the UAE and beyond to invest in Guinea, to the benefit of Guinea’s economy and people.”
GAC aims to double its contribution to the economy of Guinea by 2040. This will be achieved by growing GAC’s own business, increasing local procurement, and nationalising employment.
In December, GAC awarded a significant mining contract to a Guinean firm, Guinéenne de Prestation et de Construction. The contract is believed to be one of the largest ever awarded to a fully-local mining contractor, and has a value of over $34 million over 16 months.
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