In early January 2025, SUEZ, a global expert in water and waste management, signed a memorandum of understanding with the Angolan authorities to enhance their cooperation in the water sector. This agreement is a pivotal step in Angola’s broader initiative to provide high-quality drinking water to the 9.7 million residents of Luanda province, a rapidly growing urban area under significant demographic pressure.
A strategic alliance designed to address urban challenges
As the Angolan capital continues its fast-paced development, the demand for sustainable, resilient, and scalable infrastructure has become increasingly urgent. Angola’s macroeconomic reforms have won it plaudits, but the next step now involves committed investments in infrastructure. The memorandum of understanding between SUEZ and Angola therefore marks a new chapter in the country’s efforts to modernize public services and respond effectively to the mounting pressure on essential utilities.
SUEZ brings to the table decades of international experience, particularly in complex urban contexts. With its extensive technical expertise, digital tools, and commitment to sustainable development, the company is uniquely positioned to support Luanda’s transformation into a modern, water-secure metropolis. The partnership covers several critical aspects of water management, including infrastructure maintenance, service continuity, and the implementation of smart water technologies.
This collaboration is also part of a broader governmental ambition to reduce inequalities in access to water and improve public health standards in Angola. By prioritizing the rehabilitation and modernization of water networks, the project aims to reduce leakage, ensure better water quality, and extend service to underserved neighborhoods. It is also an undeniable success for Suez, ending a period of uncertainty that led to the dismissal of former CEO Sabrina Soussan. It is also the result of the company’s return to the forefront under the presidency of Thierry Déau, CEO and founder of Meridiam, Suez’s majority shareholder.
Meridiam: the strategic investor
Less visible to the general public but equally crucial to the success of this initiative is the role of Meridiam, a French independent investment firm that specializes in developing, financing, and managing long-term public infrastructure projects. Founded and led by Thierry Déau, Meridiam has established itself as a key actor in delivering sustainable infrastructure across the globe.
Meridiam holds a 40% stake in what is now referred to as “New Suez” or “Suez France,” a strategic division created in the wake of the 2021 battle for the control of Suez between Veolia and its competitors. When concerns arose about the monopolization of the French water sector by Veolia, it was Meridiam—alongside the U.S. fund Global Infrastructure Partners (also with 40%) and France’s Caisse des Depots (20%)—that stepped in to preserve competition and public interest.
Far from being a passive investor, Meridiam has been actively involved in steering the strategic direction of New Suez. As President of Suez, Thierry Déau has played a pivotal role in strengthening the company’s international development agenda, with Africa representing a cornerstone of this vision.
A proven track record in Africa
Meridiam’s involvement in Africa is neither new nor accidental. Over the past decade, the company has financed and managed dozens of infrastructure projects across the continent—in sectors ranging from energy and transportation to health and water—through its Meridiam Infrastructure Africa Fund.
This long-term approach aligns perfectly with the needs of countries like Angola, where infrastructure gaps cannot be closed overnight and require not just capital, but vision, commitment, and technical know-how. The partnership with SUEZ in Luanda is a concrete example of how Meridiam’s strategy is coming to life: investing not just for returns, but for impact.
By backing SUEZ’s expansion in Africa, Meridiam reinforces its position as a leader in impact-driven investment. The Angola initiative reflects the company’s broader commitment to the United Nations Sustainable Development Goals, particularly Goal 6 (Clean Water and Sanitation) and Goal 9 (Industry, Innovation and Infrastructure).
Leadership in transition
While the search for a new executive director for SUEZ is underway, Thierry Déau continues to lead the company through this critical transition period. His dual role as President of SUEZ and CEO of Meridiam is a testament to the depth of his commitment to responsible infrastructure investment.
Thierry Déau has ensured that SUEZ maintains its momentum, even during this leadership transition. Under his stewardship, SUEZ has expanded its global footprint, forged new public-private partnerships, and maintained its high-performance standards—both operationally and financially. The Angola agreement is just the latest in a series of moves that demonstrate the company’s robust health and strategic clarity.
Moreover, Déau’s leadership has reassured investors and stakeholders alike. By positioning SUEZ as a cornerstone of sustainable infrastructure investment, he has not only safeguarded the company’s legacy but also opened new avenues for growth—particularly in fast-developing markets.
Consolidating legitimacy with stakeholders
The success of the Angola initiative and others like it plays a crucial role in consolidating Meridiam’s legitimacy in the eyes of its investors, partners, and the communities it serves. In an increasingly competitive and scrutinized investment environment, performance is measured not only in financial returns but also in social, environmental, and governance outcomes.
Through its investment in SUEZ and its continued expansion in Africa, Meridiam is demonstrating what it means to be a responsible, long-term infrastructure investor. The firm’s capacity to align public interest with private investment returns is what sets it apart in today’s market.
Looking ahead
As Angola embarks on a journey to transform its urban infrastructure, the partnership with SUEZ—underpinned by Meridiam’s strategic support—offers a model of what international cooperation and responsible investment can achieve. It shows how bold leadership, technical excellence, and financial commitment can converge to deliver lasting, positive change.
With Thierry Déau at the intersection of these efforts, both Meridiam and SUEZ are well-positioned to continue playing a decisive role in shaping the future of infrastructure in Africa and beyond.
