Several African institutional investors invited
An agreement has been reached between the continental investment bank Africa50 and the government of Madagascar. As a result, Madagascar will host the 2024 Annual General Meeting of Shareholders.
The agreement was signed by Madagascar’s Minister of Economy and Finance, Rindra Hasimbelo Rabarinirinarison, on behalf of the government, and by Fleur Tchibota, Chief of Staff, on behalf of Africa50. Africa50 expressed its enthusiasm for collaborating with the Government of Madagascar to promote infrastructure investment and support the continent’s transition to sustainability. The annual shareholder meeting is scheduled for September 19, 2024, with preparations already underway. Recently, a meeting was held with Malagasy authorities in Antananarivo.
Africa50 has established itself as South Africa’s leading infrastructure investment platform. The first closing of the Africa50 Infrastructure Acceleration Fund (Africa50-IAF) was achieved with commitments totaling 222.5 million USD, thanks to the participation of 16 African institutional investors. These investors include social security funds, sovereign wealth funds, pension funds, banks, development finance institutions, and insurance companies.
According to the Africa50 Group, regional players are dedicated to driving transformative change across the continent. Notable first closing investors include the African Development Bank (AfDB) and the International Finance Corporation (IFC).
