Made In Africa Foundation Ozwald Boateng & African Development Bank Launch Africa50 Fund
Made in Africa Foundation (MIAF) has partnered with the AAA-rated African Development Bank (AfDB) to co-manage and market initiatives that will catalyze funding for Africa's largest infrastructure delivery vehicle created-to-date, the Africa50 Fund. With the critical objective of reducing the timing required to develop infrastructure projects in Africa, Africa50 is the result of experience and innovation. Over the past five years, AfDB has delivered over $5.4 billion in critical infrastructure investment in Africa through private sector and public-private partnership financing.
MIAF was founded when internationally renowned Ghanaian-born clothing designer Ozwald Boateng and leading Nigerian entrepreneur Kola Aluko of Atlantic Energy realized that a few hundred million dollars of investment could change the course of economic development for the whole of Africa. The alliance between MIAF and AfDB aims at raising $500 million for Africa50's project development arm by the first half of 2014.