In a significant milestone for African pension capital being deployed for domestic infrastructure and industrial development, the Public Investment Corporation (PIC), Africa’s largest asset manager, with over US$150 billion in assets under management, plans an inaugural investment in the Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider.

PIC has given formal notification to make a US$100 million equity investment in the AFC. The approved investment from the South African pension fund manager follows recent equity inflows to AFC from the Seychelles Pension Fund, the Government of Sierra Leone, the Republic of Togo, the Central Bank of Guinea and further investment from the Ghana Infrastructure Investment Fund, which are among the 32 equity investors in AFC. These investments further embed the active collaboration between African sovereigns, financial institutions and the private sector.

AFC has a proven track record of developing key transformational projects on the continent, providing pragmatic solutions for Africa’s infrastructure deficit and challenging operating environment. The Corporation recently announced its joint acquisition of Lekela Power, Africa’s biggest renewables independent power producer (IPP), with plans to more than double operating capacity of the operating assets within four years. Other AFC projects include the ARISE Special Economic Zone (SEZ) in Gabon, an industrial ecosystem building value from the forestry and minerals industry, which was last year certified as the world’s first carbon neutral industrial zone by the Swiss verification group SGS.

Read more @Yahoo