Africa50 Group has appointed Sérgio Pimenta as the Chief Executive Officer of its Infrastructure Acceleration Fund (IAF). This appointment underscores Africa50’s commitment to addressing the continent’s pressing infrastructure challenges by mobilizing private and institutional capital.
The Africa50 IAF, a 12-year closed-ended private equity fund, has already secured $275 million in capital commitments from 22 institutional investors, including sovereign wealth funds, pension funds, and insurance companies from both African and international markets. This initial capital infusion positions the fund as a pivotal player in bridging Africa’s estimated $100 billion annual infrastructure financing gap, as highlighted by the African Development Bank (AfDB). The fund’s strategic focus encompasses critical sectors such as energy, transport, digital technology, and water, areas essential for fostering sustainable economic growth and regional integration across the continent.
Sérgio Pimenta brings over 25 years of experience in development finance, having previously served as the Vice President for Africa at the International Finance Corporation (IFC), the private sector arm of the World Bank Group. His extensive background in managing a $17 billion portfolio and advising governments and private sector entities positions him to effectively lead the Africa50 IAF in its mission to accelerate infrastructure development in Africa.
Under Pimenta’s leadership, the Africa50 IAF aims to expand its investment portfolio by attracting additional commercial and institutional capital. The fund’s approach involves investing equity and quasi-equity alongside strategic partners to develop and de-risk infrastructure projects, thereby creating a multiplier effect that attracts further private financing. This strategy aligns with Africa50’s broader vision of positioning the IAF as a key investment vehicle capable of driving economic transformation through infrastructure development.
The appointment of Sérgio Pimenta and the establishment of the Africa50 IAF mark a significant step towards addressing Africa’s infrastructure deficit. By leveraging private sector capital and expertise, Africa50 is poised to play a crucial role in unlocking the continent’s infrastructure potential, thereby contributing to sustainable development and improved quality of life for its populations.
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