Africa50, an infrastructure investment platform, is poised to establish the continent’s first region-wide investment vehicle with a focus on off-grid power and green infrastructure, with a target of $500 million. Backed by shareholders including the African Development Bank and Morocco’s central bank, the fund aims to support climate-conscious projects and expand electricity access amid growing climate disruptions. The initiative, which includes the Alliance for Green Infrastructure in Africa (AGIA) Fund, targets $400 million for project development and $100 million for project preparation, potentially catalyzing up to $10 billion in additional investments. In parallel, Africa50 is establishing a $200 million Distributed Renewable Energy Fund, backed by the International Solar Alliance, to finance solar mini-grids and home systems. These efforts align with broader regional goals to bring electricity to 300 million Africans by 2030, as recently discussed at a high-level conference in Tanzania by the World Bank and AfDB.
Source: Nairametrics