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British International Investment (BII) has announced a $20 million commitment to the Africa50 Infrastructure Acceleration Fund.
The fund invests in infrastructure projects and platforms across Africa, targeting sectors including power and energy, water and sanitation, transport and logistics, and digital and social infrastructure.
BII’s commitment brings the fund to a fourth close of approximately $330 million, alongside the African Development Bank, the International Finance Corporation and more than 20 African institutional investors.
“Africa’s infrastructure financing gap remains one of the biggest barriers to sustainable growth and development across the continent. Our investment in the Africa50 Infrastructure Acceleration Fund reflects our commitment to mobilising more capital into the infrastructure Africa needs to support businesses, create jobs and improve lives,” commented Leslie Maasdorp, CEO of BII.
“Delivering infrastructure at the speed and scale the continent requires, depends on mobilising long-term private and institutional capital through strong partnerships. BII’s commitment to the Africa50 Infrastructure Acceleration Fund reflects our shared ambition to scale infrastructure investment, strengthen project delivery and accelerate sustainable economic development across Africa,” said Alain Ebobissé, CEO of Africa50.
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