In a powerful endorsement of its mission to transform infrastructure across the continent, Africa50, the pan-African infrastructure investor and asset manager, has welcomed the Public Investment Corporation (PIC) of South Africa as its 36th shareholder with a $40 million investment.
The PIC, which manages $141.5 billion in assets on behalf of South Africa’s Government Employees Pension Fund (GEPF), becomes the latest—and one of the most influential—partners in Africa50’s growing coalition of investors working to bridge Africa’s massive infrastructure gap.
Building a New Era for Infrastructure in Africa
Africa50 was launched with a bold vision: to accelerate delivery of critical infrastructure in Africa by mobilizing African capital for African development. The PIC’s investment is more than just financial—it’s a strategic partnership that aligns with its own pan-African investment strategy and the broader need to unlock local capital to finance high-impact projects.
“As Africa’s largest asset manager, the Public Investment Corporation’s position as a shareholder sends a strong signal to the market,” said Alain Ebobissé, CEO of Africa50. “This is a strategic partnership that deepens our capacity to deliver value for investors and economies alike.”
The PIC joins a distinguished roster of shareholders including 32 African states, the African Development Bank (AfDB), the Central Bank of West African States (BCEAO), and Bank Al-Maghrib—solidifying Africa50’s status as a unique collaborative platform driving cross-border investment.
More Than Capital—A Catalyst for Innovation
The investment from the PIC is expected to further accelerate several of Africa50’s pioneering initiatives, including:
- Africa50 Infrastructure Acceleration Fund (IAF) – A first-of-its-kind African institutional infrastructure fund that raised $222.5 million at first close, with a focus on high-impact projects.
- DRE Nigeria Fund ($500 million) – A landmark collaboration with the International Solar Alliance (ISA), Nigeria Sovereign Investment Authority (NSIA), and Sustainable Energy for All (SEforALL) to finance distributed renewable energy (DRE) projects in Nigeria.
- Alliance for Green Infrastructure in Africa (AGIA) – A $500 million blended finance initiative backed by the African Union and AfDB to prepare and finance transformative green infrastructure projects.
These funds are designed not only to build physical infrastructure but also to unlock new investment models and reduce the risk profile of infrastructure development on the continent.
A Vote of Confidence for Africa’s Investment Potential
For the PIC, the decision to invest in Africa50 is part of a broader strategy to achieve both financial and developmental goals through scalable, sustainable investments.
“Africa50’s presence and expertise across the continent provides PIC with a valuable opportunity to meet our client mandates,” said Kabelo Rikhotso, Chief Investment Officer at PIC. “This partnership helps tackle the slow pace of infrastructure development and address Africa’s significant infrastructure deficit.”
Looking Ahead
Africa faces an estimated $100 billion annual infrastructure financing gap, and the PIC’s backing represents a pivotal moment in building African-led, African-funded solutions. As global interest in sustainable and impact-oriented investments grows, Africa50 is positioning itself as the go-to platform for institutional investors seeking both returns and meaningful transformation on the continent.
