AfDB commissions US$25 million fund for infrastructure projects across Africa

AfDB Dec 27Harith has managed the PAIDF 1 fund, which has invested in transportation projects across Africa. (Image source: jbdodane/Flickr) The African Development Bank (AfDB) has commissioned a US$25mn Pan-African Infrastructure Development Fund (PAIDF 2), which will invest in power, transport, water and sanitation, information and communication technologies (ICT) and healthcare infrastructure projects across the continent

Six years ago, AfDB commissioned a similar fund, with investments of about US$50mn for infrastructure projects across Africa.

South Africa’s Harith General Partners was appointed as the fund manager of PAIDF 1, which is involved in electricity, transportation, ICT and other infrastructure projects across Africa. Its portfolio includes the Lake Turkana Wind Power Project in Kenya and the Henri Konan Bédié Toll Bridge in Abidjan, Côte d’Ivoire. Harith will manage PAIDF 2 as well.

Harith chief executive officer Tshepo Mahloele said, “Our continued partnership with AfDB will unlock many more game-changing infrastructure projects in the region.”

AfDB manager of the portfolio division, private sector department, Samuel Ekue Mivedor, said, “The bank is building on the experience gained by Harith in investing strategically and pragmatically in power, transport, ICT, water and sanitation infrastructure projects across the continent.”

 

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