Africa50 general shareholders’ meeting opens in Kigali

The annual General Shareholders Meeting of Africa50, a pan-African infrastructure investment firm, is scheduled to open this Tuesday in Kigali along with different side events.

The 2019 shareholders meeting is expected to discuss investment opportunities, innovation, partnerships and the future of the continent’s infrastructure.

It will begin with an investment forum organised by Rwanda Development Board (RDB) and it is expected to bring together leaders from government, business and experts from across Africa.

The general meeting will take place on Wednesday and will be led by the organisation’s Chairman, Adesina Akinwumi who is also the President of the African Development Bank.

Rwanda officially joined the Africa50 initiative last year at the organisation’s third general shareholders meeting, which took place in Kenya’s capital Nairobi.

The same year the Africa50 signed deal with the Government to help develop and finance the country’s ambitious Kigali Innovation City, a flagship project that seeks to turn Rwanda into a digital hub.

Africa50 is currently helping the country to develop the real estate portion of the project, including building retail and commercial complexes, but the Kigali Innovation City’s overall value is estimated to be at $2 billion.

The African Development Bank, one of the shareholders of Africa50, announced last year that the organisation would invest some $400 million (about Rwf364 billion) in the project.

At the meeting, members and participants are expected to receive updates on the progress of this project and other infrastructure activities carried out by the organisation.

Africa50’s investor base is currently composed of 27 African countries, the African Development Bank, the Central Bank of West African States (BCEAO), and Bank Al-Maghrib.

It operates as a commercial financial institution with its headquarters based in Casablanca, Morocco.

SOURCE: THE NEW TIMES

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