Mauritius joins Nigeria, others, becomes 30th shareholder of Africa50

Africa50, the pan-African investment platform, announced on Tuesday that the Republic of Mauritius became its 30th shareholder.

Dharam Dev Manraj Gosh, Mauritian Minister of Finance and Economic Development, signed the Share Subscription Agreement on behalf of the Government, committing Mauritius to take the necessary steps for ratification of the agreement, as required under the Articles of Association of Africa50.

“Mauritius is a leader in infrastructure development and one of the most investor-friendly countries in Africa. I look forward to a very fruitful collaboration. Africa50 now has four SADC member states as shareholders and looks forward to welcoming all other African countries to our platform as we collectively contribute to accelerating infrastructure delivery on the African continent,” Africa50 CEO, Alain Ebobissé, said.

Mauritius’ subscription follows that of Rwanda, which joined on July 19 during the General Shareholders Meeting in Nairobi. This marks a new milestone, with half of the continent’s 54 countries having become shareholders of Africa50.

They include: Benin, Burkina Faso, Cameroon, Congo, Côte d’Ivoire, Democratic Republic of Congo, Djibouti, Egypt, Gabon, Gambia, Ghana, Guinea, Kenya, Madagascar, Malawi, Mali, Mauritania, Mauritius, Morocco, Niger, Nigeria, Rwanda, Senegal, Sierra Leone, Sudan, Togo, and Tunisia.

Additional shareholders are the African Development Bank, the Central Bank of West African States (BCEAO), and the Bank Al-Maghrib (BAM). Total committed capital has risen to over US$850 million.

About Africa50

Africa50 is an infrastructure investment platform that contributes to Africa’s growth by developing and investing in bankable projects, catalysing public sector capital, and mobilising private sector funding, with differentiated financial returns and impact.

SOURCE: Africa50 Communications Unit