US$ 830m Raised for Infrastructure in Africa
Africa50, a new and innovative infrastructure investment platform promoted by the African Development Bank has raised US$830 million as share capital contributed by 20 African countries.
During its Constitutive General Assembly on July 29 2015 in Casablanca, Morocco, Dr. Donald Kaberuka, President of African Development Bank and Africa50 Chairman Boards of Directors noted that the enthusiasm with which the initiative was received is indicative of a Africa’s commitment to infrastructure development.
“The large presence of African States and their financial commitments are a testimony to a shared vision to find new ways to accelerate the provision of infrastructure. Africa50 will be a step change for infrastructure financing and development in Africa,”Dr Kaberuka said.
The founding countries are Benin, Cameroon, Congo, Djibouti, Egypt, Gabon, Ghana and Ivory Coast. Others are Madagascar, Malawi, Mali, Mauritania, Morocco, Nigeria, Niger, Senegal, Sierra Leone, Sudan, The Gambia and Togo.