Africa50 infrastructure fund plans to more than double project value in five years

Power Grid of India

08/09/2026 13:16

By Duncan Miriri
NAIROBI, Sept 8 (Reuters) - Africa50, a Morocco-based infrastructure investment fund, aims to more than double the value of the projects it backs to at least $20 billion over the next five years, its chief operating officer told Reuters.    
Established by African leaders in 2015, the fund has co-invested in 36 projects across power, transport, logistics and other sectors, with a combined value of about $9 billion.
"We are really looking to see how at least over the next several years, we can look to double or triple that number from a value perspective," Tshepidi Moremong, the COO of the Casablanca-based fund, said in an interview on Monday.
According to Moremong, Africa50 has invested about $500 million of equity in those projects and plans to focus on sectors with significant funding gaps, including power generation and transmission.
"$20 billion and above is what we would like to see," Moremong said, referring to the total value of projects co-invested by the fund over the next five years.
In December, Africa50 signed an agreement with India's PowerGrid and the Kenyan government to develop $311 million of high voltage electricity lines under a public-private partnership. 
The fund has also invested in power generation projects in Nigeria, Egypt, Cameroon and Madagascar, an ICT project in Rwanda, and regional healthcare businesses.
Africa faces an annual infrastructure financing gap of more than $100 billion, according to the African Development Bank, a shortfall that has been exacerbated by declining overseas development funding from wealthier countries.
Africa50 also operates a model under which it leases and runs infrastructure assets, providing governments with upfront payments.
It has struck a deal to run the Senegambia bridge linking Senegal with Gambia, collecting tolls in exchange for maintenance, upgrading the bridge and making lump-sum payments.
That business line could eventually account for as much as a fifth or a quarter of Africa50's portfolio, Moremong said.

 (Reporting by Duncan Miriri. Editing by Mark Potter)
 ((duncan.miriri@thomsonreuters.com; Tel: +254 20 4991239; Reuters Messaging: duncan.miriri.thomsonreuters.com@reuters.net))