Africa50

10-Jul-2019

“Join Africa50 to lay the foundations for a more prosperous Africa,” African Development Bank urges

KIGALI, Rwanda 10 July, 2019 – African governments must explore innovative technologies to drive transformation on the continent, board members at Africa50’s General Shareholders Meeting, held in Kigali heard on Wednesday. Prime Minister of Rwanda Edouard Ngirente made the call at the opening of the shareholders meeting. “Let’s explore these digital opportunities to move our continent forward,” the prime minister said. Africa50 is an innovative fund for developing and financing African infrastructure, funded by the African Development Bank, African governments and private and...
07-Nov-2018

Kinshasa, Brazzaville Ink Landmark Bridge Project

On the sidelines of the Africa Investment Forum, the African Development Bank and Africa50 have signed an agreement with the Democratic Republic of Congo and the Republic of Congo to develop and finance the first road-rail bridge project linking their capitals – Kinshasa and Brazzaville. Under the terms of the framework agreement, the two governments have mandated Africa50 and the African Development Bank to develop the project as a public private partnership, the bank will act as the debt provider under the aegis of the Economic Community of Central African States. As the main developer,...
19-Jul-2018

Africa50 Meeting: Kenyatta and Adesina call for accelerated private sector investment in infrastructure

President Uhuru Kenyatta has made an urgent call for developing and funding bankable infrastructure projects to drive Africa’s growth agenda. In his keynote address at the Africa50 General Shareholders Meeting held in Kenya’s capital, Nairobi, President Kenyatta said support for bankable projects in energy, transport, ICT, water and sanitation provide unprecedented opportunities for private sector participation. “The private sector must step up and help us close the infrastructure gap on the African continent. Public funding is limited, and there are competing priorities,” he said...
10-Jul-2018

Africa50 to Announce New Shareholders and Investment Updates at General Meeting in Nairobi on 19 July

Africa50, the pan-African infrastructure platform, will host its third General Shareholders Meeting (GSM) in Nairobi, Kenya on 19 July at Villa Rosa Kempinski Hotel. President Uhuru Kenyatta will open the meeting, which is taking place for the first time in East Africa. Henry Rotich, the Cabinet Secretary for the National Treasury in Kenya, will also attend. Akinwumi Adesina, President of the African Development Bank and Chairman of the Africa50 Board of Directors, will give a keynote address on the critical role that Africa50 is playing to bridge the continent’s infrastructure funding gap...
27-Jun-2018

The African CEO Infrastructure Project Developers Summit calls on Governments to Help Bring Projects to Financial Close More Rapidly

Africa investor (Ai), the international investment and communications group, and Africa50, the pan-African infrastructure investment platform, co-hosted the fourth Ai CEO Infrastructure Project Developers Summit on June 18 in Mauritius. The Summit was opened by Paramasivum Pillay Vyapoory, Acting President of Mauritius, and closed by Aziz Rebbah, the Minister of Energy, Mines and Development of Morocco, who both emphasized the need for good governance, transparency and committed political leadership to speed up the process of approving and implementing infrastructure...
20-Jun-2018

Statement by Dr. Akinwumi A. Adesina, Chairman of Africa 50 Board of Directors, Shareholders Meeting, Nairobi, Kenya

15-Mar-2018

Kimberly Heimert appointed General Counsel at Africa50

Africa50, the pan-African infrastructure investment platform capitalized by the African Development Bank, 25 African countries, and two African Central Banks, is pleased to announce the appointment of Kimberly Heimert as General Counsel. As General Counsel and member of Africa50’s senior leadership team, Heimert will provide expert advice on Africa50’s strategies and their implementation, manage the legal function, be directly involved in investment transactions, and work closely with Africa50’s Board of Directors as its counsel. “Appointing a General Counsel of Ms. Heimert’s caliber...
15-Mar-2018

Raza Hasnani appointed Head of Infrastructure Investments at Africa50 Project Finance

Africa50, the pan-African infrastructure investment platform capitalized by the African Development Bank, 25 African countries, and two African Central Banks, is pleased to announce the appointment of Raza Hasnani as Head of Infrastructure Investments for Africa50 Project Finance. Sourcing projects through Africa50 Project Development and other partners, Africa50 Project Finance engages stakeholders post financial close. Following a private equity model, it provides primarily equity and quasi equity with flexible exit options, while accessing debt generally from the African Development...
27-Oct-2017

Africa50 Reaches Financial Close for Solar Plants in Egypt

Africa50, the infrastructure fund for Africa, Scatec Solar and Norfund have signed the long-term financing documentation for the 400 MWDC utility scale photovoltaic (PV) power plants in Egypt for which they had previously entered into a Joint Development Agreement (JDA). The project, which was developed under the second round of the Egyptian Feed-in Tariff Program, reached financial close on October 27. With a 25% stake, Africa50 is contributing equity to fund construction alongside Scatec Solar and Norfund, leveraging total funding of around US$450 million. Senior debt will be provided by...
13-Sep-2017

Africa50 is partner of choice for economic transformation, Adesina tells shareholders

"With Africa50 we have an important partner, with all the enthusiasm and vigour that is necessary for Africa’s economic transformation," Akinwumi Adesina, the President of the African Development Bank (AfDB), told shareholders in Senegal. Adesina spoke at the Shareholder Meeting of the Africa50 Infrastructure Fund (Africa50) in Dakar, Senegal, on Tuesday, September 12, 2017, where he solicited greater support for the Fund. "It deserves to succeed", he continued, "and for this it has the support of the African Development Bank, [and] its...
07-Sep-2017

Africa50 to Announce New Strategy, New Investments, and New Members at its Shareholder Meeting in Dakar on September 12

Africa50, the pan-African infrastructure investment platform, will hold its third Shareholders Meeting in Dakar on Tuesday, September 12, at 11:00 a.m. at the King Fahd Hotel. Hosting the first such meeting in West Africa, President Macky Sall of Senegal will welcome the delegates. Prime Minister Bruno Tshibala of the Democratic Republic of Congo will also attend. African development Bank Group (AfDB) President and Chairman of the Board of Directors of Africa50, Akinwumi Adesina, will give a feature address, and Africa50 CEO Alan Ebobisse will provide updates on the Fund’s most recent...
15-Aug-2017

Africa50 Appoints Rupali Gupta as Head of Investor Relations

Africa50, the pan-African infrastructure investment platform capitalized by the African Development Bank, 23 African countries, and two African Central Banks, is pleased to announce the appointment of Rupali Gupta as Head of Investor Relations. A citizen of India, Rupali will lead fundraising and development of investor relations with public and private partners and shareholders worldwide. She brings substantial experience to this role, having used her in-depth understanding of investor preferences and institutional relationships to raise over US$2 billion for four emerging market funds....
18-Jun-2017

Paul Biya manifeste son soutien au président de la BAD : « Grâce à vos efforts, le développement de l’Afrique va s’accélérer »

« Nous apprécions ce que vous accomplissez pour l’Afrique en général et pour le Cameroun en particulier. Grâce à vos efforts, le développement de l’Afrique va s’accélérer » a déclaré, en substance, le président de la République Paul Biya, lors de l’audience qu’il a accordée au président du Groupe de la Banque africaine de développement (BAD), Akinwumi Adesina, lundi 17 juillet 2017 à Yaoundé, à l’occasion de sa visite officielle au Cameroun. Le chef de l’Etat camerounais a profité de l’occasion pour décerner la médaille de Commandeur de l’ordre de la valeur au président de la...
02-May-2017

Koffi Klousseh appointed Director of Project Development for Africa50

Africa50, the pan-African infrastructure investment platform has announced the appointment of Koffi Klousseh as Director of Project Development. “The appointment of Koffi Klousseh marks another important step in Africa50’s mission to facilitate infrastructure development in Africa,” said Akinwumi Adesina, President of the African Development Bank and Chairman of the Board of Directors of Africa50. “His experience and expertise in infrastructure project development, combined with his strong leadership skills, will help Africa50 increase the pipeline of bankable projects ready to be financed...
02-May-2017

Africa investor and Africa50 Partner to Co-Host African CEO Project Developers’ Summit

Africa investor (Ai), the international investment and communications group, and Africa50, the pan-African infrastructure fund, in partnership with the African Development Bank, will co-host the 3rd Ai CEO Infrastructure Project Developers Summit on May 3 in Durban, South Africa. The Summit will bring together CEO’s of leading project development companies, infrastructure financiers, and institutional investors to explore opportunities and innovative models to facilitate finance and investment in infrastructure project development in Africa. While the continent is estimated to have an...
20-Apr-2017

Carole Wamuyu Wainaina, named Chief Operating Officer for Africa50

Africa50, the pan-African infrastructure investment platform capitalized by the African Development Bank, 23 African countries, and two African Central Banks, is pleased to announce the appointment of Carole Wamuyu Wainaina as Chief Operating Officer. She will lead a multi-disciplinary team on the non-investment side of the organization, including Investor Relations, Strategy, Communications, HR and Administration, and Environmental and Social Governance. “I am delighted to welcome Ms. Wainaina to Africa50,” said Akinwumi Adesina, President of the African Development Bank and Chairman of...
01-Apr-2017

Adesina invites New Development Bank to join AfDB’s ambitious Light up and power Africa project

The African Development Bank Group (AfDB) President, Akinwumi Adesina has invited the New Development Bank (NDB) to support Light up and power Africa, the first of five top priorities of the Bank’s continental transformation agenda. “I am very pleased that the New Development Bank is investing in the energy sector and I’d like to invite you to join us in this huge task to light up and power Africa,” Adesina told delegates at the 2nd Annual Meetings of NDB in New Delhi on Saturday, April 1, 2017. He commended the speedy take-off and approvals of US $1.5 billion in projects, some of...
16-Dec-2016

Africa50 to Develop Solar Power in Nigeria

Africa50, the infrastructure fund for Africa, has signed a joint development agreement (JDA) for an 80 MW (AC) solar photovoltaic independent power project in Nigeria. The project, near Dutse in Jigawa state, will be co-developed with Scatec Solar, a Norwegian integrated independent solar power producer, and Norfund, the Norwegian Investment Fund for Developing Countries. The project includes the construction of a dedicated 132 kV overhead transmission line that will connect the plant to the Dutse substation. The electricity will be sold to NBET, Nigeria’s bulk purchaser of electricity,...
23-Nov-2016

Africa50 appoints four esteemed infrastructure advisors to its Investment Committee

The Board of Directors of Africa50, the infrastructure fund for Africa, has approved the appointment of four internationally renowned investment and infrastructure experts as Senior Advisors and members of its Investment Committee. The four Senior Advisers, hailing from the U.S., France, Cameroon and Nigeria, will assist Africa50 in making investment decisions in a manner that will ensure the attainment of the dual objectives of development impact and financial return.  “I am pleased that Africa50 will be benefitting from the collective wisdom and experiences accumulated over...
27-Aug-2016

AfDB-backed equity fund briefs potential investors at TICAD Summit

An African Development Bank (AfDB) infrastructure fund launched to mark half a century of Africa's struggle towards economic and political maturity has stepped up its effort to secure investments from foreign and local wealth funds, social security funds and banks. Alain Ebobissé, Chief Executive Officer of Africa50, said the Fund provided international development institutions with an opportunity to provide funding to governments with weak credit rating. "We can raise significant capital which we can channel towards long-term savings in Africa," the Fund's CEO told a roundtable on the...