Following Africa 50’s successful launch and the Constitutive General Assembly held on 29th July 2015, the shareholders will meet on the 21st of July, 2016 in Casablanca, Morocco for the 1st Annual General Meeting to review activities over the maiden financial year and also discuss the capital increase toward a second financial closing. The new CEO of Africa 50, Mr. Alain Ebobisse will be introduced to the shareholders.
To date Africa 50 now has twenty two (22) African countries and the African Development Bank as shareholders that have collectively subscribed an aggregate amount of USD 740 million in share capital. This is further split into USD 663 million for the Project Financing legal vehicle and USD 77 million for the Project Development vehicle. Additional shareholders will be invited to subscribe in a second round of financing expected at the end of 2016. The founding African shareholding countries are Benin, Burkina Faso, Cameroon, Congo, Djibouti, Egypt, Gabon, Ghana, Ivory Coast, Kenya, Madagascar, Malawi, Mali, Mauritania, Morocco, Nigeria, Niger, Senegal, Sierra Leone, Sudan, The Gambia and Togo.
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