Pan-African infrastructure investor and multi-vehicle asset manager Africa50, on October 1 announced the appointment of Sérgio Pimenta as CEO of the Africa50 Infrastructure Acceleration Fund (IAF).

Africa50 says the appointment marks a strategic move to scale private-sector investment, given the crucial role infrastructure plays in the continent’s development.

The company notes that Pimenta brings over 25 years of experience at the International Finance Corporation (IFC), where he most recently served as VP for Africa, leading nearly 800 staff across the continent and overseeing a $17-billion investment portfolio, as well as advisory activities.

“He is a distinguished leader recognised for building valuable relationships with key stakeholders and delivering complex global projects in infrastructure, manufacturing, agribusiness and services that advance infrastructure initiatives in emerging markets,” the company says.

Pimenta will help accelerate Africa50 IAF's mission to mobilise large-scale commercial and institutional capital and facilitate investments that contribute towards closing the continent’s infrastructure gap.

Pimenta will manage and expand Africa50 IAF's portfolio – originating new investment opportunities that enable partners to manage risk and increase exposure to high-impact infrastructure projects.

"I am honoured to join the Africa50 group to lead the IAF. It is a pioneering platform that strengthens global momentum for deploying private sector capital and unlocking Africa's tremendous potential.

“Together with the team and our partners, I look forward to scaling a pipeline of transformative, bankable projects that power regional trade, drive sustainable growth, and create jobs across the continent to improve the lives of people,” says Pimenta.

"We are delighted to welcome Sérgio to lead this important aspect of our business. His profound expertise in capital mobilization, combined with his in-depth knowledge of the African and global emerging markets, will be instrumental in supporting Africa50 IAF in achieving its strategic goals and accelerating the delivery of high-impact infrastructure projects across the continent.

“I am confident that Sérgio will help us deliver a solid investment portfolio, affirming Africa50 IAF's role as a key investment vehicle for investors ready to partner in Africa's growth,” says Africa50 group CEO Alain Ebobissé.

The Africa50 IAF, a 12-year closed-ended private equity fund, has to date secured $275-million of capital commitments from 22 African and global institutional investors, with further commitments anticipated in the near term.

The company says the commitments to the Fund underscore the Fund's domestic and international appeal, positioning infrastructure investments in Africa as a gateway to inclusive growth and economic empowerment.