Africa50 – an innovative infrastructure investment platform sponsored by the African Development Bank – will hold its Constitutive General Assembly on 29 July 2015 in Casablanca, Morocco.
Representatives of 24 African countries who have subscribed for an aggregate amount of USD 830 million will attend this historic event.
Africa50 aims to significantly narrow Africa's infrastructure financing gap by delivering transformative national and regional infrastructure projects thereby spurring Africa's growth and prosperity. Through an integrated approach, Africa50 will invest in African infrastructure projects at scale along the entire value chain via its sister Project Finance and Project Development Companies.
During the Constitutive General Meeting, Africa50's founding members will sign articles of incorporation which enshrine the highest corporate governance standards and headquarters agreements which will confer upon Africa50 a unique privileged corporate status.
Africa50 is expected to play a catalytic role for African states, infrastructure projects sponsors and other international financial institutions. Ongoing fundraising efforts promise to attract additional African countries, African financial institutions, pension funds, sovereign wealth funds, and private sector entities.
Africa50's medium term capitalization is projected to reach USD 3 billion.
About Africa50:
Africa50 is an innovative vehicle promoted by the African Development Bank and designed to help accelerate infrastructure development in Africa. Africa50 has 2 Corporations: Project Financing and Project Development. All are incorporated in Casablanca with Special Status and enjoying all privileges and immunities recognized to International Financial Organizations. For more information pls visit: www.afdb.org/africa50
