Africa Investment Forum Draws $31B Investor Interest
African and international investors have expressed interest in investing $31 billion at Africa’s top investment venue, the Africa Investment Forum Market Days. The forum has attracted a total of $63.8 billion in investment interest this year, including $32.8 billion from the postponed 2021 market days that were held in virtual boardrooms in March of this year.
Several African heads of state and government attended the three-day event, which was hosted in the commercial center of Ivory Coast, Abidjan. The executives presided over meetings and handled business with possible investors. They included vice president Tiémoko Meyliet Koné of Côte d’Ivoire, who represented President Alassane Ouattara. Others were President Sahle-Work Zewde of Ethiopia; President Nana Akufo-Addo of Ghana; President Emmerson Mnangagwa of Zimbabwe; vice president Jewel Howard Taylor of Liberia; vice president Philip Mpango of Tanzania; prime minister José Ulisses Correia e Silva n of Cape Verde; and prime minister Patrick Achi of Côte d’Ivoire.
The third Market Days celebration since 2018 was held this year, with the focus being on “Building economic resilience through sustainable investments.” It was held in the midst of the Russia-Ukraine war, the Covid-19 pandemic, and the effects of climate change, which have all contributed to the world economy’s challenges.
The occasion demonstrated the shared commitment of the founding members of the Africa Investment Forum to help unlock the continent’s investment potential in crucial fields like infrastructure, agriculture, energy, education, the creative industries, sports, and deals that support female entrepreneurs.
African Development Bank, Africa50, Afrexim Bank, Africa Finance Corporation, Development Bank of Southern Africa, European Investment Bank, Islamic Development Bank, and Trade and Development Bank are the founding partners of the forum.
Given that the world is currently facing so many unprecedented economic challenges, the partners claimed this year’s results have exceeded expectations. Dr. Akinwumi Adesina, president of the African Development Bank, praised the success of the event and the partners’ dedication. He added that the organisation was enthusiastic and devoted to the shared objective, which is to improve the investment climate in Africa by hastening contract conclusion.
Adesina stated that the goal of the Africa Investment Forum is to increase foreign direct investment into Africa while ensuring that the private sector continues to be the engine of that transformation.
“The private sector is Africa’s growth accelerator. We must mitigate real and perceived risks and persuade the private sector that investing in Africa is safe,” he emphasised.
Dr. Muhammed Sulaiman Al Jasser, president of the Islamic Development Bank, expressed optimism in a message that the team’s commitment and dedication to the AIF will convert into meaningful and verifiable benefits for the benefit of our member countries across Africa.
Admassu Tadesse, President and Chief Executive Officer of the Trade and Development Bank Group, emphasized the importance of advancing and closing transactions with greater “AIF spirit.”
Tadesse said: “Notwithstanding ongoing global crises, we have to keep our eye on the ball. We must continue to encourage and enable investment in agriculture and industry, as well as infrastructure. Growing our own food and manufacturing more will enable us to trade more. It will lead to less overall greenhouse gas emissions linked to imports from far away, in the process also generating more employment and opportunities for our peoples.”