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Monday, June 17, 2024

18 African entities elevate financing for Africa50 infrastructure fund – Economic system – Enterprise

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The signature ceremony. Africa50 website.

The signature ceremony. Africa50 web site.


Signatories embody sovereign wealth funds, improvement finance establishments (DFIs), banks, pension funds, asset managers, retirement companies, and worldwide institutional traders.

The brand new fund will appeal to extra funding for infrastructure initiatives in Africa, resembling vitality, transportation, telecommunications, and water.

The primary shut of a fund is when preliminary capital commitments are accepted by traders.

 “With the Fund, we’re positioning the Africa50 Group to play a lead position in serving to to faucet into the greater than $98 trillion of world belongings below administration,” mentioned Akinwumi A. Adesina, President of the African Improvement Financial institution.

“Collectively, we’ll catalyze African monetary sources to construct the foundations for a brighter future, one which drives prosperity, job creation, and sustainable improvement for all Africans,” CEO of Africa50 Alain Ebobissé acknowledged.

Africa50 is an infrastructure funding financial institution specializing in high-impact vitality, transport, data expertise and communication, and water initiatives.

Africa50 has invested over $6.6 billion in African infrastructure initiatives since its institution in 2012.

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