Africa50, the pan-African infrastructure investment platform, is bringing more funding into projects aimed at tackling the continent’s infrastructure and climate challenges.
The organisation focuses on developing and financing infrastructure projects across Africa, working with governments and investors to turn projects that are still in the early stages into opportunities that can attract private capital.
Africa50 currently has 38 shareholders, including 33 African countries, the African Development Bank, the Central Bank of West African States (BCEAO), Bank Al-Maghrib, the Public Investment Corporation (PIC), and the African Reinsurance Corporation.
Its shareholder base has recently expanded to include two development finance institutions: Italy’s Cassa Depositi e Prestiti (CDP), which supports development cooperation, and Proparco, the private-sector financing arm of France’s Agence française de développement Group.
Africa50’s AGIA-PD Fund held its first close at $118 million in August 2025, drawing backing from institutions including the African Development Bank, Germany’s KfW, the West African Development Bank (BOAD), the UK’s Foreign, Commonwealth & Development Office (FCDO), the Soros Economic Development Fund, and the African Climate Foundation.
The fund is targeting $400 million and aims to create a pipeline of bankable green infrastructure projects that could generate up to $10 billion in investment opportunities across Africa.
“We are honoured to be among the founding Limited Partners (LPs) of the AGIA-PD Fund,” said Stephen Mari, head of debt and equity funds at CDP International Cooperation.
He said the fund’s focus on infrastructure development aligns with the priorities of the Italian Climate Fund and the ambitions of Italy’s Mattei Plan.
Proparco is also backing the initiative as part of efforts to increase the number of green infrastructure projects across the continent.
Tibor Asboth, head of private equity for Africa and the Middle East at Proparco, said the fund could help speed up Africa’s energy transition while creating wider benefits for local communities.
“Through its manager, Africa50, AGIA-PD participates in the acceleration of the energy transition on the continent and generates significant development impacts for local communities,” he said.