Africa50 mobilizes funds not only from African states and international financial institutions, but also from institutional investors such as pension and sovereign wealth funds, insurance companies and other private sector entities. It operates as a commercial financial institution, seeking to provide an attractive return to investors.
The Constitutive General Assembly of the founding shareholders took place in July 2015 in Casablanca, with around $700 million in initial capital subscriptions from 20 African states and the African Development Bank. 90% of the financial pledges were earmarked for project financing and the remainder for project development. Africa50’s investor base is currently composed of 28 African countries, the African Development Bank, the Central Bank of West African States (BCEAO), and Bank Al-Maghrib, with over US$870 million in committed capital.