The Board of Directors of the African Development Bank
(AfDB) has approved the sum of up to USD 25 million, about N3,9 trillion in the
Pan African Infrastructure Development Fund phase 2 (PAIDF-2), DigitalSENSE Business News
reports.
PAIDF2 is a Private Equity Fund that will invest in projects
across the power, transport, water and sanitation, Information and
Communication Technologies (ICT) and healthcare infrastructure sectors
throughout the continent.
DigitalSENSE
Business News recalls that the Fund’s investments will contribute to the
development of Africa’s infrastructure backbone, foster economic growth and
contribute to the creation of direct and indirect employment.
Also, DigitalSENSE
Business News recalls that in 2007, the Bank approved an investment of
USD50 million in the Pan-African Development Fund (PAIDF-1), a Private Equity
Fund investing in infrastructure projects across the continent.
Harith General Partners (Harith) of South Africa was
established as the fund manager of PAIDF-1, which is now almost fully committed
in nine transactions.
Nenye Dom/GEE with additional report from BizTech Africa
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