The Africa50 Group commends African investors for their unwavering commitment to the Africa50 Infrastructure Acceleration Fund (Africa50-IAF), as it achieved a successful first close on December 29th, 2023, securing an impressive $222.5 million in commitments.
The Africa50-IAF marks a significant milestone in its 12-year journey, dedicated to mobilizing substantial and enduring institutional capital from both African and international investors. Notably, this accomplishment entails the securement of commitments from 16 African institutional investors, encompassing sovereign wealth funds, pension funds, social security funds, insurance companies, banks, and Development Finance Institutions (DFIs). This underscores the resolute commitment of regional stakeholders to propel transformative change across the continent.
Alain Ebobissé, CEO of Africa50 Group, expresses appreciation for the commitment exhibited by African institutional investors towards the Africa50 Infrastructure Acceleration Fund. He views this achievement as a testament to the escalating role these investors play in financing the real economy and spearheading the unlocking of Africa’s potential.
Alain emphasizes that the Africa50-IAF represents the inaugural entry in a series of new investment vehicles and instruments envisaged by the Africa50 Group. Their objective is to further mobilize private sector capital, both from within Africa and globally, to contribute to African infrastructure.
Established to invest in infrastructure assets that yield transformative impact, generate employment, and expedite Africa’s green industrial revolution, the Africa50-IAF’s first close marks a pivotal step towards capitalizing on Africa’s infrastructure opportunities. The fund boasts notable investors, including the African Development Bank (AfDB) and the International Finance Corporation (IFC).
Key highlights of the first close include securing a total of $222.5 million from a diverse group of African institutional investors and a global investor. The backing of several prominent African institutions underscores a robust commitment to the continent’s self-reliance and the potential of the Africa50-IAF to catalyze infrastructure investment, fostering economic growth.
The participation of a leading international institutional investor reflects a global acknowledgment of African infrastructure as an emerging asset class. The capital raised will be strategically deployed into a pipeline of transformative infrastructure projects spanning power and energy, transportation and logistics, water and sanitation, as well as digital and social infrastructure.
The fund, led by Vincent Le Guennou, and supported by a team of proficient private equity practitioners with extensive Africa and international exposure, is poised to make a lasting impact, accelerating the development of key infrastructure projects that will benefit communities and economies across Africa.
Vincent Le Guennou, CEO of the Africa50 Infrastructure Acceleration Fund, underscores the significance of the successful first close as a noteworthy milestone, indicative of the trust and commitment from investors. He asserts that the fund is well-positioned to have a lasting impact, expediting the development of crucial infrastructure projects that will positively affect communities and economies throughout Africa.
The Africa50 Infrastructure Acceleration Fund is poised to play a vital role in addressing Africa’s infrastructure deficit and promoting inclusive and sustainable development, with the fund’s target final close set at $500 million
