NEWS

With a growing number of African leaders taking steps to drive Africa’s clean energy transition, the African Investment Forum (AIF) has announced plans to showcase the $50 billion worth of bankable projects in the works.

The multi-stakeholder, multi-disciplinary platform announced its plans to hold virtual boardroom sessions, discussing the 45 advance deals in the pipeline.

Some of these included an investment to develop over 220km of electric transmission lines under a long term public-private partnership agreement (PPA). The investment also outlines a project with a ten-year goal to roll out broadband infrastructure to over 800,000 residential and small business customers.

The projects promise not only to progress Africa’s clean energy standards but to provide employment and social development opportunities across Africa.

Green infrastructure projects creating 3.8 billion jobs for Africa

In a previous meeting with the eight founding partners of the AIF, African Development Bank (AfDB) President Akinwumi A. Adesina stressed the importance of the members playing a role in the Alliance for Green Infrastructure (AGI) initiative.

The partners of the AGI initiative, namely: the AfDB, the African Union Commission, AUDA NEPAD and Africa 50, will raise up to $500 million in capital towards early-stage development and project preparation to yield bankable greener infrastructure projects at scale and speed.

The development of these projects is expected to create a total of 3.8 billion jobs across Africa, of which one million will be attributed to African women and women entrepreneurs.

President Adesina also stressed the importance of prioritising Africa’s healthcare security and health sovereignty.

“Going forward, we need to work more closely together to accelerate the pace of investments in infrastructure,” said President Adesina.