Africa50 to announce new shareholders in Nairobi meeting
Africa50, the pan-African infrastructure platform, will host its third General Shareholders Meeting (GSM) in Nairobi, Kenya on 19 July at Villa Rosa Kempinski Hotel.
President Uhuru Kenyatta will open the meeting, which is taking place for the first time in East Africa. Henry Rotich, the Cabinet Secretary for the National Treasury in Kenya, will also attend.
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.
Africa50 CEO, Alain Ebobisse 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.
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.
“This is a landmark event”, stated Africa50 CEO, Alain Ebobisse. “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.”
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.