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Rabat, Morocco – 6 December 2024 – 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.
The signings happened on the sidelines of the Africa Investment Forum Market Days in Rabat, Morocco. This announcement builds on the successful US$222.5 million first close of the IAF in December 2023 and continues the process of mobilizing new global and domestic capital to help bridge Africa’s infrastructure gap.
DBSA and Axian’s expected participation in the IAF expands Africa’s growing pool of international and regional investors that are committing to invest in the African infrastructure asset class. It also underscores institutional confidence in the IAF’s investment and de-risking capabilities for deploying capital into promising infrastructure sectors such as energy, digital infrastructure, and transportation.
“Participation in the IAF allows for collaboration with various institutional investors to significantly contribute to mobilizing 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 the Development Bank of Southern Africa.
Investors in the IAF also benefit from exposure to Africa50’s pan-African footprint, expertise in project development, later stage equity investing, and distinguished access to a pipeline of off-market investment opportunities.
“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 1 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”, saidAlain Ebobissé, CEO of Africa50 Group.
Commenting on the new investment pledges, Vincent le Guennou, CEO of the Africa50 Infrastructure Acceleration Fund (IAF), 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. Mobilizing 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”.
About Africa50
Africa50 is an infrastructure investor and asset manager that contributes to Africa’s growth by developing and investing in bankable projects, catalyzing public sector capital, and mobilizing private sector funding, with differentiated financial returns and impact. Africa50 currently has 35 shareholders, comprised of 32 African countries, the African Development Bank, the Central Bank of West African States (BCEAO), and Bank Al-Maghrib. For more information, visit: www.africa50.com
About the Development Bank of Southern Africa
The Development Bank of Southern Africa (DBSA) is a leading Development Finance Institution (DFI), wholly owned by the government of South Africa. Established in 1983, the DBSA is mandated to promote economic growth and regional integration by mobilising financial and other resources from national and international private and public sectors for sustainable development projects and programmes in South Africa, SADC, and the wider African continent www.dbsa.org
About AXIAN
AXIAN is a pan-African group operating across 17 countries in 5 high-growth business sectors, namely: telecoms, financial services, energy, real estate and open innovation. AXIAN supports the socio-economic transformation of the countries in which it operates. With over 7500 bold and passionate employees, the Group consistently ensures that its activities have a lasting and positive impact on the day-to-day lives of millions of Africans. As a member of the United Nations Global Compact initiative, AXIAN Group is committed to integrating its 10 principles at the core of its current and future strategies and activities. For more information about AXIAN : www.axian-group.com
Media Contact:
Africa50: Nana Boakye-Yiadom, Senior Communications Coordinator – n.boakyeyiadom@africa50.com
DBSA: Soneni Phiri – Head of Communications, Sonenip@dbsa.org
Axian:Jean-Denis Boudot, Group Communication Officer, jean-denis.boudot@axian-group.com
Category: Press Release
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