British International Investment (BII), the UK’s development finance institution, has committed $20 million to the Africa50 Infrastructure Acceleration Fund, joining the African Development Bank Group, the International Finance Corporation (IFC) and more than 20 African institutional investors in backing the vehicle.
The commitment takes the fund to a fourth close of approximately $330 million, BII said in a statement.
The investment is part of a broader effort by African and global development finance institutions (DFIs) to close Africa’s infrastructure financing gap and BII says the fund reflects growing confidence from African investors in the continent’s infrastructure opportunity and demonstrates how public and private capital can work together to mobilise investment at scale.
“Africa’s infrastructure financing gap remains one of the biggest barriers to sustainable growth and development across the continent. Our investment in the Africa50 Infrastructure Acceleration Fund reflects our commitment to mobilising more capital into the infrastructure Africa needs to support businesses, create jobs and improve lives,” said Leslie Maasdorp, CEO of BII.
By bringing together development finance institutions and domestic institutional investors, BII said the fund would help accelerate infrastructure development across the continent while deepening African capital markets and attracting further private investment.
The Africa50 Infrastructure Acceleration Fund is a 12-year closed-end private equity vehicle that Africa50 has positioned as central to its strategy of mobilising local and global capital for African infrastructure. According to Africa50, the fund is designed to transform the role of African and international institutions in financing transformative infrastructure and unlocking the continent’s potential, giving investors exposure to Africa50’s pan-African footprint, project development and de-risking expertise, late-stage equity investing, and relationships with African governments.
Last month, Africa50 announced the appointment of Djalal Khimdjee as Chief Executive Officer of its Africa50 Principal Investment Fund (formerly Africa50 Project Finance), effective 1 August 2026. He joins Africa50 from Proparco, the private sector financing arm of the French Development Agency Group (AFD), where he served as Deputy Chief Executive Officer.
Alain Ebobissé, CEO of Africa50, said, “Delivering infrastructure at the speed and scale the continent requires, depends on mobilising long-term private and institutional capital through strong partnerships. BII’s commitment to the Africa50 Infrastructure Acceleration Fund reflects our shared ambition to scale infrastructure investment, strengthen project delivery and accelerate sustainable economic development across Africa.”
BII, wholly owned by the UK government’s Foreign, Commonwealth & Development Office, invests capital in businesses across Africa, Asia and the Caribbean, and currently holds total assets of $13.3 billion (£9.9 billion) across more than 1,600 investee partners. The organisation has said at least 40 per cent of its new commitments over the next five years will go toward climate finance, positioning it as one of the largest such investors on the continent.
With a focus on infrastructure projects and platforms across Africa, targeting power and energy, water and sanitation, transport and logistics, and digital and social infrastructure, Africa50 Infrastructure Acceleration Fund follows an investment strategy aligned with internationally recognised environmental, social and governance standards and the Paris Climate Agreement. Its impact goals are built around frameworks such as the 2X Challenge and the UN Sustainable Development Goals. Africa50 has set a target final close of $500 million.