US$222.5 million First close reached for Africa50 Infrastructure Acceleration Fund (Africa50 – IAF)

Africa50 has achieved the first close for the Infrastructure Acceleration Fund, securing US$222.5 million in commitments.

Africa50-IAF has garnered the involvement of 16 African institutional investors, including sovereign wealth funds, pension funds, social security funds, insurance companies, banks, and Development Finance Institutions (DFIs). This underscores the dedication of regional stakeholders to instigate impactful change across the continent. Notable participants in the first close include prestigious entities like the African Development Bank (AfDB) and the International Finance Corporation (IFC). Operating as a 12-year closed-ended infrastructure private equity fund, Africa50-IAF was established to invest in infrastructure assets that bring about transformative impact, generate employment opportunities, and expedite Africa's green industrial revolution. By mobilizing substantial and enduring institutional capital from both African and international investors, Africa50-IAF aims to deliver sustained growth and appealing risk-adjusted returns.

The focus is on investing in diversified and sustainable infrastructure sectors throughout Africa, covering power and energy, transportation and logistics, water and sanitation, as well as digital and social infrastructure. The fund's ultimate target for closure is US$500 million.