The African Development Bank (AfDB) has approved a USD 18 million private equity investment in infrastructure in sub-Saharan Africa.<\/p>\n
The recipient of the investment is the InfraCo Sub-Saharan Infrastructure Fund (ISSIF), aiming at target capitalization of USD 200 million of equity with a first closing of USD 100 million expected third quarter 2012 to participate in greenfield and brownfield infrastructure projects. <\/p>\n
The ISSIF will catalyze additional funds for infrastructureprojects, which will create employment and bring essential skills and technical knowledge to sub-Saharan Africa.<\/p>\n
Infrastructure requirements in the sub-Saharan market are estimated at USD 94 billion annually over the next decade. <\/p>\n
This considerable deficit severely impedes Africa\u2019s economic development. The power and transport sectors are especially lacking in investment. <\/p>\n
Population growth and increasing urbanization has left many countries with a power shortage. <\/p>\n
The lack of regional transport infrastructure has resulted in vastly greater import\/export and transport costs in Africa than in other countries. <\/p>\n
African governments, traditionally the main investors in basic infrastructure, would greatly benefit from private sector investments to fill the gap.<\/p>\n
Hence, the ISSIF represents a key alternative for private-led financing for the infrastructure sector in Africa.<\/p>\n
The ISSIF is sponsored by InfraCo Limited, a donor-financed fund launched by the Private Infrastructure Development Group and EleQtra LP, a group of companies specializing in the development, financing and ownership of greenfield infrastructure projects. <\/p>\n
The ISSIF will provide scarce equity capital for infrastructure projects, create jobs and enhance the transfer of knowledge in Africa. <\/p>\n
These infrastructure investments are crucial to release constraints on long term sustainable growth and private sector development.<\/p>\n
Tas Neside Anvaripour, AfDB\u2019s manager of the infrastructure finance division said: \u201cButtress by a strong pipeline due to Infraco\u2019s role as a project developer, ISSIF is expected to have immediate access to quality projects and help them to get to bankability stage\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"
The African Development Bank (AfDB) has approved a USD 18 million private equity investment in infrastructure in sub-Saharan Africa. The recipient of the investment is the InfraCo Sub-Saharan Infrastructure Fund (ISSIF), aiming at target capitalization of USD 200 million of equity with a first closing of USD 100 million expected third quarter 2012 to participate […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[75],"byline":[334],"hashtag":[],"class_list":["post-2539","post","type-post","status-publish","format-standard","hentry","category-business","tag-homenews","byline-igihe-reporter"],"bylines":[{"id":334,"name":"IGIHE Reporter","slug":"igihe-reporter","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":null}],"contributors":[{"id":334,"name":"IGIHE Reporter","slug":"igihe-reporter","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":null}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/2539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=2539"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/2539\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=2539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=2539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=2539"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=2539"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=2539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}