DAWN

Page 33

Development

MCC and Africa50 Sign MOU to Advance a New Global Infrastructure Platform THE MILLENNIUM CHALLENGE CORPORATION (MCC) and Africa50 signed a Memorandum of Understanding (MOU) to initiate a new phase in the launch of the Millennium Impact for Infrastructure Accelerator (MIIA) Africa. The new MIIA-Africa platform is designed to spur and attract investments in Africa for bankable infrastructure deals with measurable social and economic impacts. To do so, MIIA-Africa will support project preparation, tackling a major constraint to unlocking the available pools of capital for the benefit of infrastructure development in Africa. Investments through MIIA-Africa will cover projects across sectors such as water and sanitation, agriculture, health, education, transportation, power, and telecommunications. Design work for MIIA-Africa has now been completed and MCC and Africa50 are actively soliciting infrastructure projects that have the potential to become part of the project pipeline. The MIIA team will deepen its engagement with the private sector by issuing requests for information on potential MIIA projects. “MCC is pleased to advance the MIIA-Africa collaboration, leveraging the agency’s track record in financing and delivering impactful infrastructure projects in Africa, all well-aligned with the goals of the Build Back Better World initiative” said MCC Acting CEO Mahmoud Bah. “Africa50’s reach and impact on the continent ensures this collaborative effort has the potential to identify projects with substantial economic opportunities on the continent.” Africa50 CEO Alain Ebobissé added “Africa50 is very pleased to reinforce its existing partnership with MCC. This important new milestone in the MIIAAfrica programme will help increase the pipeline of bankable projects and attract further capital 33

January-February 2022

MCC Acting CEO Mahmoud Bah (left) with Africa50 CEO Alain Ebobissé after signing the MoU to Advance a New Global Infrastructure Platform

into African infrastructure. Africa50 will contribute its strong expertise in project development and finance to accelerate the delivery of such projects and support the continent’s sustainable economic growth.” MIIA-Africa is one of MCC’s innovative finance tools to mobilize private capital to maximize the impact of highly developmental projects that spur sustainable and inclusive economic growth and reduce poverty. As an independent U.S. government agency, MCC works around the world with the best-governed developing countries, providing grant funding to unlock economic potential. About two-thirds of the agency’s portfolio is in Africa. Africa50 is an infrastructure investment platform that contributes to Africa’s growth by developing and investing in bankable infrastructure projects, catalyzing public sector capital, and mobilizing private sector funding, with differentiated financial returns and impact. Africa50 currently has 31 shareholders, comprised of 28 African countries, the African Development Bank, the Central Bank of West African States (BCEAO), and Bank AlMaghrib. Learn more about MCC at www.mcc.gov. Learn more about Africa50 at www.africa50. com. www.africa50.com/news-insights/news/mcc-andafrica50-sign-mou-to-advance-a-new-globalinfrastructure-platform-458/ Image credit: Africa50

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Five Great Books from Africa to Read This Year

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Celebrity Chef Kwame Onwuachi Releasing Cookbook Featuring Dishes from the Diaspora

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The BAL Wins International Sports Awared

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Meet the First 10 Winners of Chanel’s ‘Next Prize’ for International Artists

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Kenya’s Tennis Star Angella Okutoyi

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As Africa’s Artifacts Start to be Returned, What About its Films?

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Congolese Chef Dieuveil Malonga Wants to Have the First Michelin Star Restaurant in Africa

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The Most Rev. Desmond Tutu - Obituary

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Forbes 50 Over 50: EMEA 2022

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In pictures: The Life of Archbishop Desmond Tutu

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FYI: A Twitter Feature that Banishes Spoilers and Trolls from your Feed

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Data & Trust Alliance Group Fighting Artifi cial Intelligence Bias in the Work Force

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FBI Warning: Crooks are Using Fake QR Codes to Steal Your Passwords and Money

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Helping Black Families Build Dream Homes Secure Land in Ghana

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Rapper Nas Joins Andreessen Horowitz in Africa Gaming Investment

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Kelauni Jasmyn’s BTN.vc Raises $25M to Invest in Black-Led Tech Startups

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Why is the World’s Largest Crypto Exchange Sponsoring the Africa Cup of Nations?

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4DX Ventures Closes Second Fund with $60M

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Self-Driving Vehicle Startup Will Make Healthcare Services More Accessible

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Acclaimed Actor Forest Whitaker Becomes Investor in NBA Africa

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Streaming Platform Adventr Raises $5M Seed Round, Investors Include John Legend & More

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Investing in the BAL’s Success: Room for Private Investment in African Sports

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African Stock Exchange/Bourse

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Development Innovation Ventures

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FYI: The Pan-African Payments and Settlement System (PAPSS)

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Biden Hailed for Appointing 1st Somali American Senior Adviser to State Department

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The US has Removed Three African Countries from a Tariff -free Trade Program

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Climate Change ‘Overtakes Pandemics as Biggest Global Concern’

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Hopes for a West African Single Currency Fade

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President Akufo-Addo wins Forbes African of the Year 2021

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How Africans and African-Americans can Honor Martin Luther King

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Offi cial Launch of the African Union Centre for Post-confl ict Reconstruction and Development

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Africa’s New Generation of Health Innovators

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The Scientist in Botswana who Identifi ed Omicron

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Merck’s Covid-19 Pill to be Made by 11 Countries for Developing Nations in UN Deal

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African Food Brand Yolélé Receives $1.98M in Funding to Help Smallholder Farmers in Mali

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Lusaka Entrepreneur Wins K1 Million in Zanaco Kweza Challenge

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Plans Unveiled for African Maglev Network

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New Rwanda Conservation Conference

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How RwandAir Found a Niche Despite a Turbulent 2021

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Why Global Companies Should Enter the African Market

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US Biotech Tycoon Opens Africa's First End to-End Covid-19 Jab Plant

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Tackle Extreme Poverty: Replace Dirt Floors

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MCC and Africa50 Sign MOU to Advance a New Global Infrastructure Platform

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page 33

Nigerians Try to Solve Housing and Trash Issues with an Innovative Method

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