Africa’s infrastructure investment forum to announce shareholders, investment updates at 19 July meeting
Adesola Afolabi was a businessamlive reporter and Head of Financial desk.
Africa50, the pan-African infrastructure platform, is set to hold its third General Shareholders Meeting (GSM) in Nairobi, Kenya where new shareholders and updates on investments will be shared.
At the meeting, Alain Ebobisse Africa50 CEO, will provide operational and strategic updates on fundraising and capital increase activities, including an overview of the fund’s growing investment pipeline and announce new shareholder countries. Ebobisse will also present the new members of his senior leadership team which is now fully constituted.
According to a statement from the platform, Ebobisse noted that the meeting scheduled for 19 July at Villa Rosa Kempinski Hotel, “is a landmark event.”
“More than ever, Africa50 is in a position to deliver its mandate. In just two years of operation, Africa50 has brought together key players from Africa’s public and private sectors and the broader pan-African and international development finance community. The general shareholders meeting will be an occasion to provide an account of progress made in our strategic agenda and further consolidate our shared vision and commitment to accelerating infrastructure development in Africa,” Ebobisse said.
Akinwumi Adesina, president of the African Development Bank and chairman of the Africa50 board of directors, will give a keynote address on the critical role that Africa50 is playing to bridge the continent’s infrastructure funding gap, estimated at US$108 billion annually.
The meeting which is taking place for the first time in East Africa will be opened by Uhuru Kenyatta, president of Kenya and Henry Rotich, the cabinet secretary for the national treasury in Kenya will also attend.
African Ministers and other senior government officials representing Africa50’s shareholder countries, as well as distinguished business leaders from Kenya, Africa and beyond will attend the meeting. Delegates will review Africa50’s 2017 activities and approve its financial statements.
Africa50’s investor base is currently composed of 25 African countries, the African Development Bank, the Central Bank of West African States (BCEAO), and Bank Al-Maghrib, with over US$800 million in committed capital.
Africa50 is an infrastructure investment platform that contributes to Africa’s growth by developing and investing in bankable projects, catalysing public sector capital, and mobilising private sector funding, with differentiated financial returns and impact.