Africa50, a pan-African investment platform, has launched $500 million Infrastructure Acceleration Fund to bridge the continent’s infrastructure gap.
Africa50’s investor base composed of 28 African countries, the African Development Bank(AfDB), the Central Bank of West African States (BCEAO), and Bank Al-Maghrib.
The company named African private equity executive, Mr. Vincent Le Guennou, to lead the new entity, to mobilise resources from private and institutional investors in Africa and globally, some of which are currently mostly untapped sources of capital for African infrastructure.
“Having devoted my professional life to investing in Africa’s private sector, I have seen firsthand the need for improved infrastructure to support business competitiveness and accelerate growth. Infrastructure is an asset class that I know well and have invested in over the years. I am pleased to join the Africa50 Group to lead this new infrastructure fund at such a crucial time in our continent’s development. I am excited by the opportunity to build a successful investment vehicle backed by a strong African investor with the goal to deliver attractive returns and excellent development impact.” Vincent Le Guennou, said about the announcement.
The Africa50 Infrastructure Acceleration Fund will operate under best international standards
including a GP-LP structure and governance framework. Like Africa50, the Fund’s investment decision-making and portfolio management procedures will integrate international environmental, social and governance (ESG) practices.
Africa50 is a pan-African investment platform that contributes to Africa’s growth by developing and investing in bankable projects, catalyzing public sector capital, and mobilising private sector funding.
– The Nation