On 19 September 2024, a key meeting for the future of Africa will take place in Madagascar. The General Meeting of Africa 50 shareholders brings together the continent’s leading decision-makers, from governments to investors, to discuss critical infrastructure and development strategies. It is here that the projects that will redefine the African economy of tomorrow are discussed, laying the foundations for a sustainable and prosperous future. This melting pot also aims to breathe new life into the future of cooperation in the infrastructure sectors at continental level. The theme chosen for this General Assembly is ‘Developing renewable energy and innovative financing solutions for infrastructure in Africa’.
On 19 September 2024, Madagascar will host the General Meeting of Africa 50 shareholders. An African investment platform owned by 32 African countries, 2 central banks and the African Development Bank, Africa 50 highlights innovative solutions to unlock the potential of large-scale infrastructure on the continent. Its main objective is to forge strategic partnerships for inclusive and sustainable economic development at all levels.
“According to estimates by the African Development Bank, Africa needs between 130 and 170 billion dollars a year for infrastructure development and a further 277 billion dollars each year for climate change financing. To close this gap, it is important that we continue to reform the global financial architecture, overcome the biased nature of credit ratings and use innovative approaches to close the growing capital gap.”
Akinwumi ADESINA, President of the AfDB – Nigeria
Increasing the rate of infrastructure development in Africa requires specialised financial tools to meet the specific challenges of the market. In 7 years of operation, 25 different projects have been launched under the aegis of Africa 50 in 28 African countries, for a total value of USD 8 billion. These satisfactory results are the sign of a dynamic focused on high-impact regional projects in the infrastructure, energy, transport, health, education, ICT and water sectors through public-private partnerships.
“That’s why we’re proud that our energy investment efforts across Africa, for example, have given more than 17 million people in Africa access to reliable electricity. Thanks to our investment in Africa Healthcare Network, thousands of people in Tanzania and Kenya are receiving quality, affordable and life-changing kidney care. In collaboration with the Government of Rwanda, under the leadership of President Kagame, we have launched the construction of the 61-hectare Kigali Innovation City, which already hosts and continues to host universities of excellence, start-up incubators, accelerators in disruptive business sectors such as robotics, artificial intelligence, machine learning and more.”
Alain EBOBISSE, Chief Executive Officer of the Africa50 Fund – Cameroon
Madagascar, with its geostrategic position and development potential, is the perfect example of the challenges and opportunities on the table. The host country of the Africa 50 General Assembly has put forward a number of objectives as part of its energy transition.
“Madagascar has exceptional potential to become a model for energy transition. We are fortunate to have abundant and renewable natural resources. We have hydroelectric projects that are just waiting to be exploited. These projects are concrete solutions for meeting the energy needs of our country, our population and our industry. Madagascar’s future lies in clean, sustainable and accessible energy.”
Andry RAJOELINA, President of the Republic – Madagascar
The host country of this Africa50 General Assembly will take over the reins of the Southern African Development Community (SADC) in 2025. To ensure the availability of affordable energy for all, projections by the International Energy Agency indicate that by 2030, investment in energy access in Africa should reach nearly USD 25 billion.
