Africa50: Fund incorporated

The African Development Bank (AfDB)’s Africa50 fund, which will invest in infrastructure projects, has been incorporated and will be headquartered in Casablanca Finance City, Morocco. The fund will operate independently on a commercial for-profit basis. “Africa50 has a double bottom line: to achieve commercial returns and to make an impact in building the Africa of the future,” said AfDB president Donald Kaberuka. The fund aims to take an integrated approach to investing in infrastructure projects all along the value chain through business areas in project finance and project development.