New 15+ Year, Multi-Million £ Managed Services Contract Covering 4 Airports in the Gabonese Republic (Gabon) and Subscription to Raise £1.2 million
Westminster Group Plc (AIM: WSG), a global leader in managed security services and technology-based solutions, has signed a long-term contract to provide security services at four airports in Gabon.
The contract, formally signed during the General Assembly of the National Council for Security and Facilitation of Civil Aviation in Libreville, was executed by representatives from Westminster and Gabon’s Ministry of Transport, in the presence of government officials and dignitaries.
Spanning an initial 15-year term with a five-year renewal option, the agreement covers comprehensive ground security operations across three international airports and one domestic airport in Gabon.
Westminster will invest in and upgrade security infrastructure at the airports, supplying state-of-the-art detection, surveillance, and screening equipment. The company will also oversee maintenance, training, and support services to ensure Gabon’s airport security meets the highest international standards. These enhancements aim to strengthen the country’s aviation security framework, fostering opportunities for increased air traffic and attracting new international carriers and commercial ventures.
Following Westminster’s established managed services model in Africa, the contract’s revenue stream will be based on a per-passenger fee, denominated in USD, collected via the ticketing system and paid directly to Westminster by airlines or a designated collection agency such as the International Air Transport Association (IATA). Given current passenger levels, the contract is expected to generate approximately $5.5 million in revenue within the first year of operation.
A 90-day transition period has been established to facilitate operational planning and deployment. However, Westminster’s transition team will begin work immediately, focusing on planning, training, procurement, and logistics to ensure a smooth implementation.
Commenting on the Contract Award, Westminster’s Chief Executive Officer, Peter Fowler, said:
“Gabon, situated on the Atlantic coast of Central Africa, has one of the highest per capita incomes in Africa and became a member of the British Commonwealth in 2022. I look forward to Westminster having a long-term presence in the country and in playing our part in the successful growth and security of the country’s airports.
“I am delighted to be able to announce this latest long-term managed services security contract in Francophone Africa, which adds four more airports to our growing portfolio of airport operations. I am equally pleased to note that the government has ensured all the required processes and approvals have been put in place ahead of signing.
“This latest contract award follows the award for five airports in the Democratic Republic of Congo which, despite the invasion of the east of the country which has understandably caused some distraction and delay, continues to make progress, albeit slower than anticipated. The one airport affected by the invasion, Goma, will not be included until the security situation on the ground permits, though this will have no material impact on revenues. We continue to carefully monitor the situation and will update shareholders on any material change accordingly.
“I am delighted our strategic investor, Pantheon A Family Office, continues to show their support and belief in the Company.”
