Close Menu
    What's Hot

    China to Drop Tariffs on African Exports

    June 13, 2025

    Egypt’s Paysky Unveils “Pay by Bank” to Transform Digital Payments

    June 11, 2025

    Experts Unite to Close Africa’s $81 Billion Trade Finance Gap

    June 9, 2025
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      Salpha Energy Secures $1.3M to Expand Nigeria’s Solar Manufacturing Capacity

      June 6, 2025

      South Africa – Infrastructure Overhaul Set to Boost Transport and Trade

      May 16, 2025

      Navigating Challenges in the African Air Cargo Industry

      March 5, 2025
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      Egypt’s Paysky Unveils “Pay by Bank” to Transform Digital Payments

      June 11, 2025

      Experts Unite to Close Africa’s $81 Billion Trade Finance Gap

      June 9, 2025

      Nigeria Launches Air Cargo Corridor to Boost Intra-African Trade

      May 30, 2025
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      DP World and Nedbank Elevate Trade Finance in Africa

      Finance Trade September 18, 2024
      Recent

      DP World and Nedbank Elevate Trade Finance in Africa

      September 18, 2024

      Arab Coordination Group commits $50 billion for Africa’s sustainable development

      November 13, 2023

      MENAT to see investment flows increase substantially

      September 4, 2023
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    Infrastructure

    Africa50 invests USD 6.6bln in infrastructure over 6 years

    July 7, 20233 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Africa50
    The AfDB’s President, Dr. Akinwumi Adesina claimed that the African Infrastructure Acceleration Fund was playing a strategic role in closing Africa’s infrastructure financing gap
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Africa50 aims to address the critical shortcomings in regional infrastructure in order to create significant growth.

    Africa50 is an investment platform established by African governments and the AfDB to secure financing for infrastructure projects with significant development impact.

    Africa50 – USD 6.6 billion in investments to date

    African Development Bank (AfDB) claims that Africa50 has invested over USD 6.6 billion in critical infrastructure in its six years of being in operation. According to the News Agency of Nigeria (NAN), the AfDB’s President, Dr. Akinwumi Adesina, made the claim in a statement released at the Africa50 Infra Forum and General Shareholders Meeting in Lome, Togo.

    The African Infrastructure Acceleration Fund

    NAN reported that the Togolese President, Faure Gnassingbé and prominent African and global institutional investors attended the event. While there, investors used the opportunity to sign subscription agreements and letters of intent to commit funds to the USD 500 million African Infrastructure Acceleration Fund.

    According to Adesina, the Fund is the first private vehicle infrastructure platform inaugurated by Africa50. Adesina said that Africa50 was rapidly playing a strategic role in closing Africa’s infrastructure financing gap, from energy to transport and logistics to digital infrastructure, he said, “Africa50 is doing amazing work as an institution, developing projects to bankability and financing projects. At the heart of our work is to help close the USD 68 to 108 billion annual infrastructure financing gap for Africa.”

    Addressing challenges

    Adesina went on to say that the reallocation of International Monetary Fund Special Drawing Rights (SDRs) meant more funding to support all the regional development banks in Africa as well as Africa50 and that the resources would unlock additional resources to finance climate change mitigation and adaptation, infrastructure for agriculture, transport, digital, airports, water and sanitation, education, as well as health. Adesina said that the bank had invested more than USD 32 million to support inclusive growth in the sector, helping to reduce the importation of key food commodities like rice, maize, and soybeans.

    Speaking at the Africa50 Infrastructure Acceleration Fund signing event, Adesina said the time to change the investment narrative on Africa was now, “It is remarkable and unprecedented to have 17 African institutions participating in such a transforming initiative to invest in an African infrastructure fund. With the Fund, we are positioning the Africa50 Group to play a lead role in helping to tap into the more than 98 trillion dollars of global assets under management. The African Development Bank is investing 20 million dollars in equity in the African Infrastructure Acceleration Fund,” he said.

    Infrastructure development is critical

    Togolese president, Faure Gnassingbé said there was a need for infrastructure across the continent, saying, “this is indeed a condition for development”. Gnassingbé went on to say that, “The public sector finances more than 90% of infrastructure investment, but public spending will not be enough, the involvement of the private sector is essential.”

    Africa50 CEO Alain Ebobissé said his institution was ready to take on the challenge of creating the infrastructure needed to grow the African continent. Ebobissé explained that Africa50’s investments over six years covered 21 national and regional infrastructure projects in 22 countries. “We understand the expectations of the African population. This is why we must act with a real sense of urgency,” Ebobissé added.

    For more infrastructure news, visit our dedicated archives.

    Africa50 financing Infrastructure
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleEgypt’s trade deficit sees 23.8% surge in April 2023
    Next Article Arab-Africa Trade Bridges Program launches USD 1.5 Billion Food Security Program

    Related Posts

    Energy Infrastructure Power

    Salpha Energy Secures $1.3M to Expand Nigeria’s Solar Manufacturing Capacity

    June 6, 2025
    Infrastructure Trade

    South Africa – Infrastructure Overhaul Set to Boost Transport and Trade

    May 16, 2025
    Metals & minerals

    Premium Resources Expands Mineral Potential at Botswana’s Selebi North​

    May 2, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    LATEST STORIES

    China to Drop Tariffs on African Exports

    June 13, 2025

    Egypt’s Paysky Unveils “Pay by Bank” to Transform Digital Payments

    June 11, 2025

    Experts Unite to Close Africa’s $81 Billion Trade Finance Gap

    June 9, 2025

    Salpha Energy Secures $1.3M to Expand Nigeria’s Solar Manufacturing Capacity

    June 6, 2025

    Turuq Innovations: Transforming Egypt’s Last-Mile Delivery for Small Businesses

    June 4, 2025
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.