Finance: Alain Ebobissé of Africa50 targets institutional investors for African infrastructure

By Aurélie Benoit
Posted on Monday, 25 July 2022 09:04

Alain Ebobissé of the Africa50 Fund
Alain Ebobissé of the Africa50 Fund (rights reserved)

In Marrakech, at its general assembly of shareholders, the Africa50 fund – an African Development Bank subsidiary in charge of infrastructure – took a step towards the continent's sovereign wealth funds.

Alain Ebobissé, the CEO of Africa50, and Akinwumi Adesina, AfDB President, signed a framework agreement on 19 July with Obaid Amrane, the head of Ithmar Capital, which oversees the new Africa Sovereign Investors Forum.

The trio intends to strengthen Africa50’s collaboration “with a large number of African sovereign wealth funds to help bridge the infrastructure gap on the continent”, according to the platform’s director.