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Africa50 to accelerate African Infrastructure Development

 

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3 September 2014 – Abidjan, Côte d’Ivoire and Casablanca, Morocco – The African Development Bank (AfDB) has announced the incorporation of Africa50.  Africa50 is a new landmark investment vehicle that aims to help significantly accelerate the pace of infrastructure development across Africa, thereby spurring Africa’s growth and prosperity.  Africa50 will operate from its headquarters in Casablanca Finance City, Morocco.

140903-pmwj27-Africa50-IMAGEAfrica50 has been structured as an independent, profit-driven, commercially managed entity dedicated exclusively to Africa’s infrastructure opportunities.

According to Dr. Donald Kaberuka, AfDB’s President, “Africa50 has a double bottom line: to achieve commercial returns and to make an impact in building the Africa of the future.”  

Through an integrated approach, Africa50 will invest in African infrastructure projects at scale along the entire value chain from early stage development to financial close and operations via its two business lines:  Project Finance and Project Development.  By virtue of its public-private nature, Africa50 will have the benefit of private sector rigor, the convening power of AfDB and the political commitment of its early capital providers, AfDB and African governments.

Africa50 is targeting an initial capital base of USD 3 billion and is currently in discussions with several African governments as well as institutional investors around the world.

For more information, go to http://www.afdb.org/en/topics-and-sectors/initiatives-partnerships/africa50-infrastructure-fund/

Contacts: Ms. Tas Anvaripour, Director Business Development Department & Africa50 Team Leader / [email protected]

The African Development Bank (AfDB) is a regional multilateral development finance institution established in 1964 to mobilize resources towards the economic and social progress of its Regional Member Countries. Headquartered in Abidjan, Côte d’Ivoire, the Bank promotes economic and social development in African states, providing financing for programs and projects across the continent. For more information, visit http://www.adbg.org/.

Source: African Development Bank