Gabonese President announces $200 m fund to create 50 Professional Schools

BY EDMUND SMITH-ASANTE

H.E.Ali Bongo Ondimba

H.E. Ali Bongo Ondimba, President of the Gabonese Republic, has announced the creation of a $200 million fund, in association with the New York Forum Institute and with the support of the whole CEMAC region (Chad, Central African Republic, Cameroon, Equatorial Guinea, Gabon and the Republic of the Congo).

The fund, called “Train My Generation”, was announced at the closing session of the New York Forum AFRICA, and will finance the creation of 50 professional schools that will train 100,000 students in 18-24 months, whereas the training programmes will last from 12 to 18 months.

Announced at the biggest pan-African summit in the world, the fund will also be presented to the G8 Summit currently ongoing in the United Kingdom.

A press release proclaiming the fund said its start-up will be financed by a $50 million contribution from the CEMAC governments, while the balance will be provided by investment from the private sector in Africa and internationally.

According to the announcement, the 50 schools will focus on three sectors - tourism, agriculture and retail - that have the biggest growth potential, and the potential to create the most jobs.

Working with leading international vocational training institutions, ‘Train My Generation’ is expected to answer employer requirements and fill the gap between high school education and workforce entry. 

The fund will be audited and fully compliant with international standards of compliance.

The New York Forum AFRICA, which this year, played host to the Summit of the CEMAC Heads of State involving eight African heads of state and more than 1,600 participants, was organised by Richard Attias & Associates under the patronage of the Office of President Ali Bongo Ondimba and in collaboration with the Government of Gabon.

The high-profile forum hosted economic leaders, business executives, young entrepreneurs, investment funds, policy makers, and international media for intense discussions and working sessions.

They discussed how to accelerate economic development across the African continent through increased trade transparency, governance, safety, entrepreneurship, and support for Small and Medium Enterprises (SMEs), which accounts for 90 per cent of the private sector on the continent.

The New York Forum® was established with the conviction that business has arrived at a crossroads, while Richard Attias & Associates is a strategic communications firm that provides private consultancy, idea initiatives, and live experiences to help leaders, corporations, and nations build their global influence, catalyse innovation, and lead the global exchange of ideas.