This move represents a major step in leveraging African capital to address the continent’s infrastructure needs.

PIC, which manages $141.5 billion in assets on behalf of the Government Employees Pension Fund (GEPF), is now Africa50’s 36th shareholder.

The investment highlights growing confidence in Africa50’s ability to attract significant capital for large-scale infrastructure projects across Africa.

With this investment, PIC joins a group of key shareholders that includes 32 African countries, the African Development Bank (AfDB), the Central Bank of West African States (BCEAO), and Bank Al-Maghrib.

The partnership further strengthens Africa50’s role as a leader in infrastructure investment and capital mobilisation.

Kabelo Rikhotso, Chief Investment Officer at PIC, said the decision aligns with the corporation’s investment strategy focused on the rest of Africa.

“Africa50’s strong presence and expertise on the continent offer us a valuable opportunity to meet both financial and development goals in line with our client mandates,” Rikhotso stated.

He added that the collaboration aims to tackle Africa’s infrastructure backlog and contribute to long-term, sustainable growth.

“PIC remains committed to supporting Africa’s development and looks forward to working closely with Africa50 and other partners,” he said.

The funds from PIC are expected to support several key initiatives, including the Africa50 Infrastructure Acceleration Fund (IAF), the DRE Nigeria Fund, and the Alliance for Green Infrastructure in Africa (AGIA).

These efforts focus on innovative financing solutions to accelerate infrastructure improvements.

Alain Ebobissé, CEO of Africa50, welcomed the investment, describing it as a strategic partnership that will deliver long-term value for both investors and African economies.

“The PIC’s investment is a strong market signal that highlights confidence in our capacity to deliver results. We believe this partnership will support our mission to drive impactful infrastructure development across Africa,” said Ebobissé.