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Made In Africa Foundation Co-Founder Ozwald Boateng partners with African Development Bank to launch Africa50 fund – the largest infrastructure development investment fund
Ozwald Boateng – Co-founder of Made In Africa Foundation. PHOTO/BBC
Made In Africa Foundation Co-Founder Ozwald Boateng And African Development Bank Launch Africa50 Fund to financing and investment strategies that will develop the untapped potential of the African continent – with the help and presence of key supporters Jamie Foxx, Jay-Z and a host of luminaries
(PRNewsire) – New York – The Made in Africa Foundation (MIAF) has partnered with the AAA-rated African Development Bank (AfDB) to co-manage and market initiatives that will catalyze funding for Africa’s largest infrastructure delivery vehicle created-to-date, the Africa50 Fund.
With the critical objective of reducing the timing required to develop infrastructure projects in Africa, Africa50 is the result of experience and innovation.
Over the past five years, the African Development Bank has delivered over US$5.4 billion in critical infrastructure investment in Africa through private sector and public-private partnership financing.
Made In Africa Foundation was born when internationally renowned Ghanaian-born designer Ozwald Boateng and leading Nigerian entrepreneur Kola Aluko of Atlantic Energy realized that a few hundred million dollars of investment could change the course of economic development for the whole of Africa.
The alliance between the Made In Africa Foundation and the African Development Bank aims at raising US$500 million for Africa50’s project development arm by the first half of 2014.
The historic alliance between the Made In Africa Foundation and African Development Bank will be launched formally at the NASDAQ on September 26th, 2013 at 9:00 a.m (EDT).
