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Africa50 will need an equity investment of USD 10 billion. To begin operations, Africa50 targets raising $3 billion in equity capital, to establish credibility with governments, private developers and financial markets.
According to sources, the choice of Morocco confirms the attractiveness of the Casablanca Finance City as a regional and international financial hub that plays a key role in Africa's financial integration and economic development.
The African Development Bank and Made in Africa Foundation officially launched the fundraising for the Africa50 infrastructure fund on September 26th, 2013 at the NASDAQ Stock Exchange in New York City.