Africa50 set to launch large-scale gas investment to propel Africa’s industrial growth

DAR ES SALAAM: AFRICA 50 has announced plans to launch a large-scale gas infrastructure investment platform aimed at unlocking Africa’s domestic gas resources and accelerating industrialization across the continent.

Speaking at the Infra for Africa Forum and Africa50 General Shareholders Meeting in Dar es Salaam, Africa50 Chief Executive Officer Alain Ebobisse said the initiative will be guided by gas-producing shareholder countries and developed in partnership with strategic institutions to expand reliable energy access, strengthen digital infrastructure, and support economic growth.

The meeting is taking place at the Julius Nyerere International Convention Centre(JNICC) in Dar es Salaam with President Samia Suluhu Hassan as the guest of Honour.

Ebobisse highlighted Africa50’s achievements over the past decade, noting that the pan-African infrastructure investor has backed 36 projects in 34 African countries, mobilizing more than 9 billion US dollars in infrastructure investment.

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He also said Africa50 recently raised 330m US dollars from 26 investors, 23 of them African to finance bankable infrastructure projects, demonstrating growing confidence among African investors in the continent’s development agenda.

Looking ahead, Africa50 aims to grow its equity base to 5bn US dollars , a move expected to catalyze up to 30bn US dollars in infrastructure investments across Africa.

The proposed gas infrastructure platform is expected to play a key role in expanding access to reliable electricity, supporting industrial development, and meeting the continent’s growing energy demand as Africa seeks to accelerate economic transformation.