The Angolan Sovereign Wealth Fund (FSDEA) and Gemcorp Capital announced on Tuesday (9) the creation of a new US$500 million pan-African fund for infrastructure investment on the continent. According to a joint statement, the fund aims to provide flexible capital solutions targeted at African infrastructure projects.
The initial investment will be US$50 million from the FSDEA, which may increase to US$200 million. The Gemcorp Group will contribute up to US$50 million, subject to internal approval, with the remaining amount expected to be mobilised from global investors.
Still subject to regulatory approval, the fund seeks to address Africa’s most urgent needs in areas such as transport, energy and the energy transition, food and water security, supply chains, financial services and communications.
The project is described as one of the first vehicles dedicated exclusively to African infrastructure to be developed and managed by a company based in the Abu Dhabi Global Market (ADGM), “reinforcing ADGM’s strategic role as a privileged access platform for investment in Africa”.
With more than ten years of activity in emerging markets, Gemcorp Capital has financed and executed approximately US$9 billion in projects, mainly in the infrastructure and real assets sectors, according to the statement.
The document notes that Africa requires more than US$100 billion per year in infrastructure investment over the next decade to secure basic services, including access to electricity.
Gemcorp is a global financial-industrial group focused on emerging markets, present in ten countries and with more than 500 employees.
The Angolan Sovereign Wealth Fund (FSDEA) is the institution responsible for managing the country’s sovereign wealth fund, specialising in strategic investments in financial markets and alternative assets, with the aim of maximising long-term returns, preserving capital and supporting sustainable socioeconomic growth.
Source: Lusa
