Compiled By: James Kamara-Manneh
Sierra Leone has been selected to bolster economic growth and infrastructure development in the country among fourteen countries as beneficiaries of African Development Bank (AFDB) Pembani Remgro infrastructure Fund 11.
The Fund with initial investment of $20 million in Cote d Ivoire, aims to leverage up to $400 million from private commercial and institutional investors to support industrial and infrastructure project, across Africa.
The Countries set to benefit from the Fund include Sierra Leone, South Africa,Kenya, Ghana, Nigeria, Uganda, Zambia, Mozambique, Botswana, Namibia, Cote d Ivoire, , Ethiopia and Rwanda.
The allocation funds will be directed towards various projects with a particular emphasis and digital infrastructure renewable energies ,for energy transition, logistics and Transportation, Waste recovery and heating, Ventilation, and air conditioning all geared towards promoting energy efficiency.
However, the Board of Directors of the African Development Bank has approved a US$ 20 million investment in the Pembani Remgro Infrastructure Fund II in Côte d’Ivoire. The Bank’s investment will allow the Fund to raise up to $400 million from private, commercial or institutional investors to invest in industrial and infrastructure projects in Africa.
The Pembani Remgro Infrastructure Fund II will invest in companies based in some of sub-Saharan Africa’s leading economies, namely, South Africa, Kenya, Ghana, Nigeria, and Angola. Others are Uganda, Zambia, Mozambique, Botswana, Namibia, Côte d’Ivoire, Sierra Leone, Ethiopia, and Rwanda.
Funds raised by the Pembani Remgro Infrastructure Fund II will be invested in such industrial and infrastructure projects as digital infrastructure, the energy transition (i.e. renewable energies), logistics and transport, waste recovery, heating, ventilation and air conditioning, with a focus on energy efficiency. They will also be used for the development of resilient regional value chains and infrastructure technologies.
