BlueEarth Capital has said it plans to invest USD 20mn in African Infrastructure Investment Fund 4 (AIIF4), a fund managed by African Infrastructure Investment Managers (AIIM).
AIIF4 aims to go some way in mitigating the continent’s per annum infrastructure funding gap estimated at between USD 68bn to USD 108bn, of which less than 1% of the USD 587bn raised since 2016 has been allocated to the continent. The result of this underinvestment has meant a heavy dependency on fossil fuels, high data costs, poor energy grid connections and limited transport infrastructure.
The fund, which has a pan African remit, will focus on South Africa, Kenya, Cote d’Ivoire, Senegal, Morocco and Egypt. And will specialise in three thematic areas: digitisation, energy transition, mobility and logistics.