British International Investment Plc plans to invest $6 billion in Africa over the next five years.
The investment targets renewable power and digital infrastructure areas to support women-owned businesses.
The spending, part of a $10 billion global program, includes a $76 million contribution toward a planned $500 million fund being raised by Old Mutual Ltd.’s African Infrastructure Investment Managers that was announced on Wednesday.
Moreover, at least 20 per cent of the capital committed to AIIF4 will be invested in climate finance qualifying projects which will directly contribute to reducing greenhouse gas emissions.
Additionally, AIIF4 qualifies under the 2X Challenge based on the AIIM workforce consisting of 50 per cent women and its commitment to working towards increasing entrepreneurship, employment, leadership, and consumption opportunities for women in 30 per cent of AIIF4’s portfolio companies.