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| The Nairobi-Thika Highway, Kenya. |
The Board of Directors of the African Development Bank Group has approved an equity investment of $20 million in the Africa50 Infrastructure Acceleration Fund I(link is external), in support of its target to mobilize private capital for infrastructure across the continent.
The Africa50 Infrastructure Acceleration Fund I is a pan-African infrastructure private equity fund that is mobilizing up to $500 million for investment and value creation in strategic infrastructure sectors. These include power, energy, digital and social infrastructure, transportation, logistics, and water and sanitation.
The fund is sponsored by Africa50,(link is external) an infrastructure investment platform established by governments and the African Development Bank. Africa50 brings infrastructure project development and financing under one umbrella. Africa50 has a strong track record of investments in the private sector and of projects undertaken under a Public Private-Partnership (PPP) framework.
The mobilization of private capital is critical to closing the infrastructure financing gap in Africa, especially given the limited fiscal space of African governments which currently provide the largest source of infrastructure funding on the continent.
The Africa50 Infrastructure Acceleration Fund I was established as a vehicle to help execute Africa50’s mandate of mobilizing private capital and accelerating further investment flows into African infrastructure by targeting private and institutional investors.
African Development Bank Director for the Industrial and Trade Development Department, Abdu Mukhtar said the Bank’s investment in the Fund underlined its strategic nature and the fact that the Bank prioritizes investing in strategic infrastructure sectors that contribute to closing Africa’s infrastructure financing gap (estimated at $68-108 billion annually).
The Africa50 Infrastructure Acceleration Fund I is a pan-African infrastructure private equity fund that is mobilizing up to $500 million for investment and value creation in strategic infrastructure sectors. These include power, energy, digital and social infrastructure, transportation, logistics, and water and sanitation.
The fund is sponsored by Africa50,(link is external) an infrastructure investment platform established by governments and the African Development Bank. Africa50 brings infrastructure project development and financing under one umbrella. Africa50 has a strong track record of investments in the private sector and of projects undertaken under a Public Private-Partnership (PPP) framework.
The mobilization of private capital is critical to closing the infrastructure financing gap in Africa, especially given the limited fiscal space of African governments which currently provide the largest source of infrastructure funding on the continent.
The Africa50 Infrastructure Acceleration Fund I was established as a vehicle to help execute Africa50’s mandate of mobilizing private capital and accelerating further investment flows into African infrastructure by targeting private and institutional investors.
African Development Bank Director for the Industrial and Trade Development Department, Abdu Mukhtar said the Bank’s investment in the Fund underlined its strategic nature and the fact that the Bank prioritizes investing in strategic infrastructure sectors that contribute to closing Africa’s infrastructure financing gap (estimated at $68-108 billion annually).
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