The collaboration brings together a diverse group of influential stakeholders from Africa and outside the region. It comprises 17 African shareholders—including sovereign wealth funds, development finance institutions, banks, pension funds, asset managers, and retirement agencies—and two international Institutional Investors. Other entities are expected to join this first transaction.

To affirm their interest, the shareholders signed subscription agreements and letters of intent to invest in the fund on Monday 3 July, during the Africa50 Infrastructure Forum and General Shareholders Meeting in the Togolese capital.

The fund will catalyse further investment flows to the development of critical infrastructure across the African continent, including energy, transportation, telecommunications, and water, among other areas.

Speaking at the signing event, African Development Bank president, and chair of the Africa50 board, Dr Akinwumi Adesina said: “This is impressive and a first for Africa. It is remarkable and unprecedented to have 17 African institutions participating in such a transforming initiative to invest in an African infrastructure fund. With the Fund, we are positioning the Africa50 Group to play a lead role in helping to tap into the more than $98 trillion of global assets under management.”

The African Development Bank is investing $20 million in equity in the Africa50 Infrastructure Acceleration Fund.

Other investors include the International Finance Corporation, the Nigeria Sovereign Investment Authority, the Arab Bank for Economic Development in Africa, the West African Development Bank, CDC Sénégal, CDC Benin, CNSS Togo, CDG Invest, and Attijariwafa Bank of Morocco.

The chief executive officer and managing director of Nigeria Sovereign Wealth Fund, Aminu Umar-Sadiq,  said his agency’s priority focus on sustainable infrastructure was consistent with its vision to contribute positively to Africa's economic growth and development, including investing profitably, responsibly, and sustainably.

Umar-Sadiq said: “The Nigeria Sovereign Wealth Fund has a clear mandate to bring development to Nigeria, and by extension the continent, and our investment in the Africa50 Infrastructure Acceleration Fund is an opportunity to increase our development impact in Africa while generating attractive financial returns.”

Arab Bank for Economic Development in Africa CEO Dr. Sidi Ould Tah said: “Africa is a region with tremendous potential and a key priority for us, so we are delighted to join a credible partner like Africa50 in this groundbreaking partnership to scale up infrastructure development on the continent."

Africa50 CEO Alain Ebobissé said securing commitments from such prominent African institutional investors marks the beginning of a new era of collaboration and investment in Africa's infrastructure sector.

Ebobissé said: “This African-led initiative is a powerful demonstration of our shared vision to transform Africa's infrastructure landscape. Together, we will catalyze African financial resources to lay the foundations for a better future, one that drives prosperity, job creation, and sustainable development for all Africans.”

The Africa50 Infrastructure Acceleration Fund is a 12-year closed-end infrastructure private equity fund that mobilizes large and long-term institutional capital from African and international institutions. The fund will make equity and quasi-equity investments—primarily taking majority stakes—in infrastructure projects across Africa.