Egypt has approved to invest a total of US$100 million in the Africa50 Infrastructure Fund, which was launched in 2014 by the African Development Bank (AfDB).
Africa50 targets raising US$3 billion in equity capital, to establish credibility with governments, private developers and financial markets. Depending on funding needs and the project pipeline, Africa50 will augment its financial capacity by raising debt in the international capital markets.
Africa50 is a fund focused on high-impact national and regional projects in the energy, transport, ICT and water sectors. The fund has been structured as an independent, profit-driven, commercially managed entity dedicated exclusively to Africa's infrastructure opportunities. Africa50 establishes two business segments:
The fund was launched in part due to the fact that the increase of infrastructure delivery in Africa implies a greater focus on project preparation and project development as well as specialized financial tools to address specific market challenges.