[4] Africa50 was ratified by African Finance Ministers in May 2013, and its headquarters were launched in Casablanca, Morocco in September 2014.
[5] Its Constitutive General Assembly of founding shareholders took place in July 2015 in Casablanca, with around $700 million in initial capital subscriptions from 20 African states and the AfDB.
[7] The member countries are: Benin, Burkina Faso, Cameroon, Democratic Republic of Congo, Djibouti, Egypt, Gabon, Gambia, Ghana, Guinea, Ivory Coast, Kenya, Madagascar, Malawi, Mali, Mauritania, Morocco, Niger, Nigeria, Republic of Congo,Senegal, Sierra Leone, Sudan, Togo and Tunisia.
[11] Its second investment was with the same partners in six solar plants totaling 400 MWDC in Benban, Egypt.
The Chairman of the Board of Directors is Akinwumi Adesina, President of the African Development Bank.