Africa50, a pan-African investment platform which comprises 28 African countries, the African Development Bank (AfDB), the Central Bank of West African States (BCEAO), and Bank Al-Maghrib on Tuesday launched a $500 million Infrastructure Acceleration Fund targeted at bridging the continent’s infrastructure gap.
Speaking during the launch, the Chief Executive Africa50, Alain Ebobissé, said, “Sponsoring the Africa50 Infrastructure Acceleration Fund is a critical pillar of Africa50’s capital mobilisation strategy. It will enable us to tap into a different pool of investors as well as long-term savings to increase Africa’s infrastructure investment capabilities. Attracting more private sector capital is key to relieving already-constrained public budgets and contributing to the continent’s growth and post-pandemic recovery.”
The company named African private equity executive, Mr. Vincent Le Guennou, to lead the new entity, to mobilise resources from private and institutional investors in Africa and globally, some of which are currently mostly untapped sources of capital for African infrastructure.
The Africa50 Infrastructure Acceleration Fund is expected to operate under best international standards including a GP-LP structure and governance framework. Like Africa50, the Fund’s investment decision-making and portfolio management procedures will integrate international environmental, social and governance (ESG) practices.
Africa50 is a pan-African investment platform that contributes to Africa’s growth by developing and investing in bankable projects, catalyzing public sector capital, and mobilising private sector funding.