IFC invests $50m in two Africa-focused infrastructure funds
TLDR
- IFC invests $30 million in Africa Infrastructure Investment Fund 4 Partnership (AIIF4) for telecommunications, renewable energy, and transportation projects in Africa.
- IFC also commits $20 million to the Africa50 Infrastructure Acceleration Fund (IAF Fund) for sustainable infrastructure development across the continent.
- The funds target digital infrastructure, renewable energy, transportation, logistics, and water and sanitation projects in Africa, leveraging private sector involvement.
The International Finance Corporation (IFC) has disclosed a $30 million equity investment in the Africa Infrastructure Investment Fund 4 Partnership (AIIF4). Managed by Africa Infrastructure Investment Managers (AIIM), an entity within the Old Mutual Group, the fund is earmarked to back projects in telecommunications, renewable energy, and transportation across Africa.
Complementing this effort, IFC has also committed a $20 million equity investment in the Africa50 Infrastructure Acceleration Fund (IAF Fund) to promote sustainable infrastructure development across the continent. Targeting digital infrastructure, renewable energy, transportation, logistics, and water and sanitation projects, the fund seeks to invest in projects where the private sector is pivotal in advancing infrastructure.
Aligned with key World Bank Group initiatives, these strategic moves underscore IFC's commitment to projects delivering substantial developmental impact in Africa's digital infrastructure and energy sectors.
Key Takeaways
Africa presents a massive infrastructure investment opportunity with a current investment gap of over $150 billion per year. The continent is home to some of the fastest-growing economies in the world, with a combined GDP of $2.3 trillion and a population of 1.3 billion people. But only 60% of the population has access to basic electricity, among other infrastructure challenges. With funds like the IFC-backed Africa50 Infrastructure Acceleration and Africa Infrastructure Investment Funds and a growing middle class, the continent’s infrastructure market is poised for substantial growth in the coming years.
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