African Development Bank Approves US$20 Million Investment in Pembani Remgro Infrastructure Fund II in Côte d’Ivoire
The African Development Bank’s Board of Directors has sanctioned a US$20 million investment in the Pembani Remgro Infrastructure Fund II in Côte d’Ivoire. This investment will enable the Fund to raise up to $400 million from private, commercial, or institutional investors to support industrial and infrastructure projects across Africa.
The Pembani Remgro Infrastructure Fund II will primarily invest in companies located in prominent sub-Saharan African economies, including South Africa, Kenya, Ghana, Nigeria, Angola, Uganda, Zambia, Mozambique, Botswana, Namibia, Côte d’Ivoire, Sierra Leone, Ethiopia, and Rwanda.
The allocated funds will be directed towards projects in digital infrastructure, renewable energies for energy transition, logistics and transport, waste recovery, heating, ventilation, and air conditioning, with a strong focus on energy efficiency. Additionally, investments will be used to develop resilient regional value chains and infrastructure technologies.
Opinion: The African Development Bank’s investment in the Pembani Remgro Infrastructure Fund II is a significant step towards bridging the infrastructure funding gap in Africa. By supporting various sustainable and inclusive projects, this initiative aligns with the Bank’s commitment to green growth and climate change objectives, contributing to the continent’s economic growth, job creation, and overall development.
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