Africa50 appoints Djalal Khimdjee as CEO of Principal Investment Fund   

Africa50, the pan-African infrastructure investor and asset manager, has appointed Djalal Khimdjee as Chief Executive Officer of its Africa50 Principal Investment Fund, formerly known as Africa50 Project Finance, effective Aug. 1, 2026. 

Khimdjee, who brings more than 25 years of experience in infrastructure investment, executive leadership and development finance, will lead the Fund as it expands its investment activities and supports the delivery of infrastructure projects across Africa.

Veteran development finance executive joins Africa50 

He joins Africa50 from Proparco, the private sector financing arm of the French Development Agency Group (AFD), where he served as Deputy Chief Executive Officer. 

During his eight-year tenure, Khimdjee played a key role in strategy execution, investment operations and portfolio management. Under his leadership, Proparco increased annual investments from €1.4 billion ($1.6 billion) to €2.5 billion ($2.8 billion), while assets under management grew from €5 billion ($5.7 billion) to €7.5 billion ($8.5 billion). 

Before joining Proparco, Khimdjee held senior investment and leadership roles within the AFD Group and International Finance Corporation (IFC), gaining extensive experience financing infrastructure and private sector projects across Africa, the Middle East, Asia and Latin America.

Focus on infrastructure investment 

Commenting on his appointment, Khimdjee said Africa’s infrastructure gap remains one of the continent’s biggest challenges but also represents a significant investment opportunity. 

“Africa’s infrastructure gap is one of the defining challenges, and one of the most compelling investment opportunities of the coming decades, particularly as the continent is projected to be home to nearly 40% of the world’s population by the end of the century,” he said. 

“I am delighted to join Africa50 at this important stage of its growth and look forward to working with the team, shareholders, partners and investors to accelerate the delivery of infrastructure projects that generate long-term impact across the continent.” 

Africa50 Group Chief Executive Officer Alain Ebobissé said Khimdjee’s investment expertise and experience mobilizing capital would support the Fund’s expansion and partnerships with institutional investors.

“Djalal brings an exceptional combination of investment expertise, strategic leadership and extensive experience mobilizing capital for infrastructure across Africa and emerging markets,” Ebobissé said.

Expanding Africa’s infrastructure pipeline 

The appointment comes as Africa50 continues to strengthen its role as an infrastructure investor focused on developing, financing and delivering projects that address the continent’s infrastructure needs while attracting long-term capital. 

Africa50 invests across key sectors including energy, transport and digital infrastructure, using project development expertise and financing solutions to help turn infrastructure opportunities into investment-ready projects. 

The institution currently has 38 shareholders, including 33 African countries, the African Development Bank, the Central Bank of West African States (BCEAO), Bank Al-Maghrib, the Public Investment Corporation (PIC) and African Reinsurance Corporation.