Development finance institution British International Investment (BII) has committed 20 million dollars to Africa50’s Infrastructure Acceleration Fund, targeting digital infrastructure, broadband and energy projects across the continent.
The commitment brings the fund to a fourth close of approximately 330 million dollars under an expanded partnership between BII and Africa50 to co-finance digital networks, power systems and transport logistics.
The African Development Bank estimates Africa’s ICT infrastructure financing gap reached 28.5 billion dollars in 2023, with investment reaching only 8.1 billion dollars against total needs of 36.5 billion dollars.
"Africa’s infrastructure financing gap remains one of the biggest barriers to sustainable growth and development across the continent," says Leslie Maasdorp, CEO of British International Investment.
The broader infrastructure deficit is significantly larger, with the AfDB estimating annual requirements between 184 billion dollars and 221 billion dollars for core infrastructure across African markets.
"Public capital alone cannot meet Africa’s infrastructure needs," says Alain Ebobissé, CEO of Africa50.
Ebobissé adds that BII’s investment aims to mobilise institutional and private funding by combining regional expertise with international development capital.
The fund deployment focuses on expanding broadband, data centres, cloud infrastructure and power assets to support the continent’s growing digital economy.
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