During its General Shareholders Meeting (GSM) in Kigali recently, Africa50, the pan-African investment platform, announced that the Republic of Zimbabwe has joined as its 31st shareholder.
Speaking during the event, Africa50 CEO, Alain Ebobissé, thanked the government of Zimbabwe for its commitment to the institution, which marks a welcome expansion in southern Africa.
“We are grateful for this strong vote of confidence and look forward to working closely with the government and the private sector to identify priority projects and deploy our project development and financing expertise,” he added.
George Tongesayi Guvamatanga, Zimbabwe’s Permanent Secretary for Finance and Economic Development, signed the Share Subscription Agreement on behalf of the Government, committing Zimbabwe to acquiring shares in Africa50.
The President of the African Development Bank and Chairman of the Board of Africa50, Dr. Akinwumi Adesina, said: “In recognition of the importance of the project development work of Africa50, the African Development Bank has decided to increase its shareholding. The environment for massive investment in infrastructure in Africa is propitious, attracting ever more investors.”