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European Investment Bank commits USD 80 million to develop Africa’s infrastructure 

The European Investment Bank (EIB) has committed USD 80 million to the Pembani Remgro Infrastructure Fund II (PRIF II), its largest-ever investment in an African fund.  Pembani focuses on transformative infrastructure projects – including renewable energy, digital infrastructure and transportation – that advance climate action and sustainable development across sub-Saharan Africa. This investment supports the EU Global Gateway strategy, which aims to mobilise EUR 300 billion for global infrastructure, with half dedicated to Africa by 2027.  By leveraging EIB participation, the fund manager has exceeded its target size, reaching USD 355 million in total commitments, enhancing its capacity to deliver on the ground….

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About the Author

Paul Murungi is a Ugandan Business Journalist with extensive financial journalism training from institutions in South Africa, London (UK), Ghana, Tanzania, and Uganda. His coverage focuses on groundbreaking stories across the East African region with a focus on ICT, Energy, Oil and Gas, Mining, Companies, Capital and Financial markets, and the General Economy.

His body of work has contributed to policy change in private and public companies.

Paul has so far won five continental awards at the Sanlam Group Awards for Excellence in Financial Journalism in Johannesburg, South Africa, and several Uganda national journalism awards for his articles on business and technology at the ACME Awards.

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