Casablanca Finance City to host Africa50 Infrastructure Fund

The initiative of setting up the Africa50 Infrastructure Fund was adopted during the 2013 annual meetings in Marrakech to provide Africa with a fund that mobilizes private financing to accelerate the speed of infrastructure delivery in Africa, thereby creating a new platform for Africa's growth. Africa50 will focus on high-impact national and regional projects in the energy, transport, ICT and water sectors, it said. 

 

Africa50 will need an equity investment of USD 10 billion. To begin operations, Africa50 targets raising USD 3bn in equity capital, to establish credibility with governments, private developers and financial markets, it added.

 

According to the same source, the choice of Morocco confirms the attractiveness of the Casablanca Finance City as a regional and international financial hub that plays a key role in Africa's financial integration and economic development.