Africa50 Fund willing to invest in Morocco

Marrakech, Nov 11 (IANS) The Africa50 Fund is willing to invest in Morocco and turn the country into a hub to invest in other African countries, said its Chief Executive Officer (CEO).

“In Morocco, we intend not only to carry out investments, but also to work with Moroccan companies in order to invest in other African countries,” Alain Ebobisse told MAP news agency on Thursday on the sidelines of his participation in COP22.

Regarding the Fund’s strategy to fight climate change, the CEO said that Africa50 can capitalise up to 50 per cent of its funding in renewable energy if profitable projects are presented to the board.

“We want to finance projects that are profitable and have a positive impact,” said Ebobisse, adding that the approach of the bank is to finance projects with sufficient profitability compared to risk.

Africa50 is an infrastructure fund owned by African governments, the African Development Bank and institutional investors.

–IANS

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