Africa50 Infrastructure Acceleration Fund secures new commitments
The fund has reached a new milestone as DBSA and Axian signed to invest.
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The Africa50 Infrastructure Acceleration Fund (IAF) has reached a new milestone as the Development Bank of Southern Africa (DBSA) and Axian signed to invest in the IAF.
This announcement builds on the $222.5 million first close of the IAF in December 2023 and continues the process of mobilising new global and domestic capital to help bridge Africa’s infrastructure gap.
“Participation in the IAF allows for collaboration with various institutional investors to significantly contribute to mobilising and pooling financial resources, expertise and networks to close the infrastructure gap on the continent. The IAF seeks to invest in infrastructure that supports the economic and social upliftment of the communities and countries in which it invests, and this is aligned to the DBSA’s strategic objectives,” said Boitumelo Mosako, CEO of DBSA.
“Africa has the projects, resources, and talent. We need to accelerate progress. By signing this letter of intent to invest in Africa50’s Infrastructure Acceleration Fund, we reaffirm our commitment to advancing transformative infrastructure projects across the continent and fostering sustainable growth for Africa,” said Hassanein Hiridjee, CEO of AXIAN.
“We are pleased to welcome DBSA and AXIAN as participants in the Africa50 Infrastructure Acceleration Fund. They are joining the 16 African institutional investors and one global investor who were part of IAF’s first close last year. This new milestone underscores Africa50 Group’s strategic mandate to tap into deep and diverse pools of capital in Africa and globally, to accelerate the delivery of infrastructure projects in Africa,” said Alain Ebobissé, CEO of Africa50 Group.
Commenting on the new investment pledges, Vincent le Guennou, CEO of the Africa50 Infrastructure Acceleration Fund, said: “We are delighted by DBSA and AXIAN Group’s interest in the IAF, which currently has a diverse pool of institutional investors that have identified the IAF as a key vehicle to accelerate infrastructure investment in Africa. Mobilising additional investors in less than one year demonstrates the IAF’s capital raising capabilities and the commitment of investors in Africa to provide the much-needed capital for impactful and profitable infrastructure projects that will improve the lives of millions of Africans across the continent.”
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