AfDB tags AIF collective deal of the century for investments in Africa
The continental summit designed by Africa to draw nearer deep pocket investors, Africa Investment Forum (AIF), kicked off Monday in Johannesburg, South Africa, with the President of Africa Development Fund (AfDB), Dr. Akinwunmi Adesina, tagging it the “collective deal of the century for investment in and the development of Africa.”
Whereas analysts say the forum will focus on advancing projects to bankable stages, raising capital and accelerating the financial closure of deals, Dr. Adesina averred that “This is the beginning of a new conversation, a new way of doing things.”
Earlier, the AfDB’s Director of Communications told reporters, Mr. Victor Oladokun, told media executives at the Sandton Convention Centre in Johannesburg, that the summit will change the African narratives in development financing channels.
In his remarks, South African Deputy Director of the National Treasury Vuyelwa Vumendlini said the Africa Investment Forum provides a continental complement to the country’s recent investment forum which successfully attracted more than 200 billion Rand in investments.
The Government of South Africa, the African Development Bank and several multi-lateral development partners are hosting the Forum expected to become a key springboard for investment and an annual event.
Oladokun added that global financial institutions such as Africa Finance Corporation, Development Bank of South Africa, Africa 50, Afreximbank, European Investment Bank, Trade and Development Bank and the Islamic Development Bank, have come together to form solid strategic alliances around this new venture.
Business Hilights recalls that AIF remains a unique platform where already curated projects, advanced and de-risked and are brought in front of investors. This innovative partnership of key global and continental players will focus on transactions and deals.
The inaugural AIF will feature a session on Championing Investments− an investment conversation with African Heads of State to highlight concrete and transformative actions for a new business landscape in Africa, including collective efforts to facilitate private investments. The summit ends Friday this week.
