• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, June 5, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

AfDB boosts infrastructure development fund with $20m

AfDB

The Matters Press by The Matters Press
August 3, 2024
Reading Time: 2 mins read
0
Nigeria gets AfDB’s $14m as member of ATI

AfDB

The African Development Bank (AfDB), has signed a 20 million-dollar equity investment in the African Infrastructure Investment Fund 4 (AIIF4).

RELATED POSTS

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

FCT ground rent!: Check your name if you own property

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

The AfDB in a statement, said the deal, signed on July 31, was to reinforces the Bank’s commitment to fostering private sector development and boosting infrastructure across the continent.

The statement said that the investment, approved by AfDB Group’s Board of Directors on June 19, would be financed from the Bank’s ordinary capital resources designated for private sector operations.

According to the statement, Africa’s infrastructure sector remains a significant investment opportunity, driven by substantial demand deficits and a scarcity of capital.

With rapid urbanisation and increasing local purchasing power, the continent requires between 130 and 170 billion dollars annually, in infrastructure spending.

There is currently a substantial yearly financing gap of 68 to 108 billion dollars, on the continent.

“AIIF4, with a 13-year term and a five-year investment period, has completed its first closing at 230 million dollars, attracting international investors.

“To date, the Fund has raised more than the 500 million dollars target, with the final close expected to be concluded in Q3 2024.

“The fund is projected to deliver significant development outcomes, particularly in private sector growth and household income improvement,” it said.

According to the statement, the Bank assesses the likelihood of achieving these outcomes on time as High.

It said the investment complemented the Bank’s ‘High 5’ operational priorities, along with its 10years Strategy (2024-2033), relating to accelerating and scaling up its operations.

It said the fund pipeline, also aligned with the Private Sector Development Strategy (2021-2025), the Climate Change and Green Growth Framework, and the Strategy for addressing Fragility and Building Resilience (2022-2026).

The statement quoted Mike Salawou, the bank’s Director for Infrastructure, Cities and Urban Development, as expressing AfDB’s commitment to infrastructure development on the continent.

“The bank is reinforcing its commitment and support to developing infrastructure in Africa to private sector participation.

“This is done by providing this scarce private equity investment to African Infrastructure Investment Managers (AIIM) to bridge the infrastructure financing gap in Africa.

“Therefore, our confidence in AIIM as a fund manager is renewed and strong, given its proven expertise and track record in driving impactful investments,” Salawou said.

AIIM have transacted and identified a robust pipeline of investment opportunities in renewable energy, digital infrastructure, and ports and logistics assets in South Africa, Kenya, and Morocco.

They are also actively screening deals in Egypt, Côte d’Ivoire and Senegal, among others.

The AIIF4 investment underscores the increasing role of private equity in addressing Africa’s infrastructure needs and highlights the continent’s potential for sustainable economic growth.

Tags: AfDB
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Energy

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

June 4, 2025
Property owners besiege FCT office to pay ground rent
Economy/Technology

FCT ground rent!: Check your name if you own property

June 3, 2025
News

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

June 3, 2025
Economic implications of Niger coup to Nigeria, ECOWAS
Economy/Technology

IMPI urges media to consider national interest in reporting security challenges

June 3, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
News

Malami’s opposition to Tinubu’s endorsement self-indicting – TDF

June 3, 2025
President Tinubu outlines new economic, monetary, foreign policies
Economy/Technology

CUPP goofs over President Tinubu’s 2027 endorsement by governors

June 2, 2025
Next Post
Tinubu’s tax policy favours Nigerians, moves to cut taxes from 200 to 10

Tinubu's nationwide broadcast on hardship protest

Commission plans to liberate 38% illiterate Nigerians

Indigent students, major beneficiaries of Tinubu's Economic Reforms through Student loans. - TDF

Recommended Stories

Economists Challenge IMF on call for further VAT increase in Nigeria

Youths in Sub-Saharan Africa are opportunities for region – IMF

September 29, 2023
10 new board members for Finance Ministry, 2 for Customs Service

10 new board members for Finance Ministry, 2 for Customs Service

November 25, 2023
Nigeria urged to create enabling space for Fintech operators

Fintechs thrive with effective synergy between innovation, regulation

February 19, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF
  • FCT ground rent!: Check your name if you own property
  • Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us