Launch of 'Africa50'

by Developed Africa 3. October 2013 09:00

Last week saw the announcement of a collaboration between the African Development Bank (AfDB) and the Made In Africa Foundation (MIAF)

Africa50, a $500 million Pan-African infrastructure fund, is a joint venture between the African Development Bank (AfDB) and the Made In Africa Foundation (MIAF), a UK non-profit organisation founded by Kola Aluko and Ozwald Boateng"

The idea between the fund is to invest the money into infrastructure projects in Sub-Saharan Africa and the money will be mainly used to fund the feasibility studies needed by projects in order to be able to move forward with the venture. 

The joint venture will see MIAF attractive more investment for the fund, as well as co-managing it, and deciding what projects to use it for. An article from This Day Live reveals more:

The alliance between MIAF and AfDB aims at raising $500 million for Africa50's project development arm by the first half of 2014"

This collaboration is well-documented evidence that investment into business and infrastructure projects is the best way to move in developing Africa.

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