A joint statement announced that the fund aims to provide flexible capital solutions focused on investing in African infrastructure.
The initial investment will be $50 million (€46.5 million) by FSDEA, with potential growth to $200 million (€186 million). The Gemcorp Group will contribute up to $50 million (€46.5 million), subject to internal approval, with expectations that the remaining amount will be raised from global investors.
Pending regulatory approval, the fund intends to address Africa’s urgent needs in areas such as transport, energy and energy transition, food and water security, supply chains, financial services, and communications.
The project is heralded as one of the first vehicles exclusively dedicated to African infrastructure to be developed and managed by a company based in the Abu Dhabi Global Market (ADGM), “reinforcing ADGM’s strategic role as a privileged access platform for investment in Africa.”
With over ten years of operations in emerging markets, Gemcorp Capital has financed and executed approximately $9 billion (€8.4 billion) in projects, mainly in the sectors of infrastructure and real assets, according to the statement.
The document highlights that Africa needs over $100 billion (€93 billion) a year in infrastructure investments over the next decade to ensure basic services, including access to electricity.
Gemcorp is a global financial-industrial group focused on emerging markets, present in ten countries and employing more than 500 people.
The Angola Sovereign Fund (FSDEA) is the institution responsible for managing the Angolan sovereign fund, specializing in strategic investments in financial markets and alternative assets, aiming to maximize long-term returns, preserve capital, and support the country’s sustainable socioeconomic growth.
