African heads of state have put their support behind the African Development Bank’s (AfDB) new Africa50 initiative.

The continent’s leaders met at the New Partnership for Africa’s Development (NEPAD) Heads of State and Government Orientation Committee (HSGOC) chaired by Senegal president Macky Sall.

The new initiative will focus on high-impact national and regional projects in the energy, transport, ICT and water sectors. It aims at creating a new platform for Africa’s growth by mobilising private funds. Africa50 will also support the realisation of some of the goals of Agenda 2063 ‒ the African Union’s vision for the next 50 years.

The AfDB has also signed a US $9 million (R million) grant agreement with the African Union Commission to strengthen African countries’ capacity to plan, prepare and coordinate the implementation of regional infrastructure programmes and projects.

AfDB’s Finance Vice-President Charles Boamah called on African countries to demonstrate a strong ownership of the Africa50 initiative and urgently make their investments in its equity.