Africa50 pledges to prepare more bankable projects to attract investors, financing

DAR ES SALAAM: AFRICA50 has pledged to scale up infrastructure development across Africa by expanding its Infra for Africa platform to prepare more bankable projects capable of attracting investors and financing.

Speaking during the Africa50 Annual Shareholders Meeting in Dar es Salaam, the institution’s Chief Executive Officer, Alain Ebobissé, said the initiative is intended to send a strong message to the international investment community that Africa’s infrastructure sector presents significant investment opportunities.

Talking on Africa50’s achievements over the past decade, the CEO stated that the institution has invested in 36 infrastructure projects across 34 African countries, helping mobilise more than 9 billion US dollars in investment.

“Africa50 has also pioneered several landmark initiatives on the continent, including Kenya’s first privately financed and operated electricity transmission project and Africa’s first infrastructure asset recycling programme,” he stated.

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Ebobissé further said the Africa50 Infrastructure Acceleration Fund has raised 330m US dollars from 26 institutional investors, including 23 African institutions, describing the achievement as a major milestone in mobilising African capital to finance the continent’s infrastructure development.

According to the CEO, the institution is now ready to significantly expand its operations to support the delivery of more large-scale infrastructure projects, attract additional investment from Africa and international markets, stimulate economic growth and generate sustainable returns for investors.