Africa 50 aims for $20B project value
The Africa 50 Fund aims to increase the value of its infrastructure projects across Africa to $20 billion over the next five years, having invested approximately $9 billion so far in the energy, transportation, and logistics sectors. The fund's CEO, Chipeledi Mormong, plans to double the investment volume by focusing on sectors with significant financing gaps, such as power generation and transmission. In December, she signed an agreement with Powergized and the Kenyan government to develop high-voltage power lines valued at $311 million. Data shows that Africa faces an annual infrastructure financing gap exceeding $100 billion, a situation worsened by declining funding from wealthy countries that traditionally support development.
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