Africa50 invests over US$6.6 billion in infrastructure in six years

In just six years of operation, Africa50(link is external) has invested more than $6.6 billion in critical infrastructure, African Development Bank Group President Dr. Akinwumi Adesina said Monday during the Africa50 Infra Forum and General Shareholders Meeting in Lomé.  It was attended by Togolese President Faure Gnassingbé.

Africa50 is an investment platform established by African governments and the African Development Bank to mobilize financing for mega infrastructure projects with significant development impact. Adesina chairs the Africa50 board of directors.

Prominent African and global institutional investors attending the meeting signed subscription agreements and letters of intent to commit funds to the $500 million African Infrastructure Acceleration Fund – the first private vehicle infrastructure platform launched by Africa50.

The fund will catalyze further investment flows to invest in the development of critical infrastructure across the African continent.

Source: African Development Bank Group