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Africa50 raises $830 million for African infrastructure

In its first close, Africa50, the infrastructure investment initiative proposed by the African Development Bank has received $830 million in commitments from 20 African countries. While the first close wa only open to African countries, it is anticipated that the second and subsequent closings will be available not only to African countries that are yet to invest in Africa50, but also non-sovereign investors both in Africa and outside Africa. Africa50 is targeting $10 billion over the next 5 to 10 years to invest in high-impact energy, transport, ICT and water projects. 

Read more at CNBC Africa…

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