AfDB in Partnership to Launch Africa50 Fund for Infrastructure Development

Made in Africa Foundation (MIAF) has partnered with African Development Bank (AfDB) to Launch Africa50 Fund, to catalyse funding for Africa’s largest infrastructure delivery vehicle. They intend to raise $500 million for Africa50’s project development arm by the first half of 2014. The fund will be divided into Project Development and Project Financing. The partnership was formerly launched at NASDAQ in the US – on Thursday. Supporters for the partnership includes, Oscar-winning actor and longtime MIAF supporter Jamie Foxx;  Grammy-winning musician, producer and entrepreneur Jay-Z; Mr. Boateng; Mr. Aluko; African Union Commission Chairperson Nkosazana Diamini-Zuma; and Sam Kutesa, Uganda’s current Minister of Foreign Affairs and the next president of the United Nations General Assembly. It also includes, Arthur Sulzberger Jr., publisher of The New York Times, Nigerian billionaires Tony Elumelu and Wale Tinubu; MIAF CEO Chris Cleverly; Chinese private–equity giant Patrick Zhong of the Fosun Group; ex-UK Foreign Secretary and International Rescue Committee CEO David Miliband; and other African leaders (TBA for security reasons).”