As part of the 2012 Declaration on the Programme for Infrastructure Development in Africa (PIDA), African heads of states called for innovative solutions to accelerate the delivery of infrastructure on the African continent as part of the African Union's Agenda 2063.
In response, and after broad consultation with its stakeholders, the African Development Bank announced the establishment of Africa50 – Project Development and Africa50 – Project Finance, investment vehicles under one umbrella, conceived to be part of the solution to the continent’s infrastructure challenges.
Africa50 was established to help bridge Africa’s infrastructure funding gap by facilitating project development, mobilizing public and private sector finance, and investing in infrastructure on the continent. Africa50 focuses on medium- to large-scale projects that have development impact and offer an appropriate risk-adjusted return to investors. Bringing project development and financing together in one platform, Africa50 seeks to provide support at every stage of the project cycle.