Africa50, a pan-African infrastructure investor and asset manager, has raised $118 million in the first closing of the Alliance for Green Infrastructure in Africa Project Development Fund (AGIA-PD).
With a $400 million target, the fund seeks to garner public, commercial and philanthropic capital to unlock early-stage investment for transformative, climate-resilient projects in Africa. The funding will allow Africa50 and partners to advance critical projects in sectors that contribute to accelerating Africa’s energy transition or climate resilience goals, such as renewable energy, sustainable transport, and infrastructure in Information and Communication Technologies (ICT). The blended, early-stage project development capital will deliver a pipeline of investment-ready infrastructure projects in Africa.
AGIA’s first close attracted investors such as the African Development Bank; the German Development Cooperation through KfW; the West African Development Bank; the U
