In a bold move to catalyse infrastructure development across the continent, South Africa’s Public Investment Corporation (PIC) has invested approximately R740 million into Africa50, a leading pan-African infrastructure investor and asset manager. This investment not only strengthens Africa’s infrastructure ambitions but also exemplifies how African capital can be harnessed to fuel the continent’s growth from within.
The investment, valued at R776.13 million, marks the PIC’s official entry as Africa50’s 36th shareholder. Representing the Government Employees Pension Fund (GEPF), the PIC manages a staggering R2,735.87.5 billion in assets, making it one of the continent’s most powerful financial entities.
Africa50’s shareholder base already includes 32 African states, the African Development Bank (AfDB), the Central Bank of West African States (BCEAO), and Bank Al-Maghrib, among others. The PIC’s participation adds substantial weight to Africa50’s mission of unlocking deep pools of capital for vital infrastructure projects.
Strategic Alignment and Vision
Kabelo Rikhotso, the PIC’s Chief Investment Officer, expressed confidence in the partnership, noting its alignment with PIC’s broader Rest of Africa investment strategy.
“Africa50’s extensive presence and expertise across the continent provides PIC with a valuable opportunity to achieve both financial and developmental objectives in line with our client mandates,” said Rikhotso.
He added that this investment would accelerate the pace of infrastructure development and address the continent’s pressing infrastructure deficits.
“PIC remains committed to Africa’s growth and looks forward to a strong strategic collaboration with Africa50 and our partners to drive sustainable infrastructure investment.”
Catalysing Sustainable Growth
The PIC’s capital injection is expected to drive multiple initiatives under Africa50’s infrastructure roadmap. These include:
- Africa50 Infrastructure Acceleration Fund (IAF)
- DRE Nigeria Fund
- Alliance for Green Infrastructure in Africa (AGIA)
Each of these initiatives targets innovative financing models designed to support sustainable, scalable infrastructure across Africa—from energy and transport to digital and social infrastructure.
Africa50 CEO Alain Ebobissé welcomed the investment, calling it a “strategic partnership” that underscores investor confidence in Africa50’s track record and long-term vision.
“We see this development as a strategic partnership, where the PIC will benefit from Africa50’s project development expertise and geographic footprint,” Ebobissé noted.
He added that the move sends a powerful message to global markets about the viability of infrastructure investments in Africa driven by African capital.
A Unified Approach to African Solutions
This collaboration between PIC and Africa50 is more than a financial transaction—it’s a collective call to action. As the global narrative around climate change, energy transition, and sustainable development intensifies, the continent is taking proactive steps to lead its own transformation.
At a time when external funding for Africa’s infrastructure and climate goals remains uncertain, this partnership is a timely reminder that African-led solutions are not only possible but already underway.
