African Development Bank says Africa Investment Forum exceeded expectations

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The closing panel which comprised of heads of Development Finance Institutions (DFIs), unanimously agreed that the Africa Investment Forum, organised by the African Development Bank exceeded all expectations.

A statement by the President of the African Development Bank, Dr. Akinwumi Adesina said “the needle is shifting, pointing to the right direction, pointing to Africa. I am thankful for the investors, I am thankful for the confidence they have in Africa”.

Adesina, who was addressing more than 1,000 delegates at the Forum revealed that “Africa has grown up. Africa is not going to be developed by aid. It will be developed by investment and I think you are beginning to see it”.

Participants at the first ever transaction-based Forum in Africa, include heads of DFIs, institutional investors and sovereign wealth, equity and private sector chief executive officers, who came from across the continent.

At the Forum which took place in Johannesburg, South Africa, 45 deals worth over US$32 billion secured investment interest. However, the statement released by Adesina noted that final numbers will be disclosed in the coming days.

Speaking on the $32 billion worth of transactions secured at the Forum, Adesina said “I could not be happier, but we don’t want to congratulate ourselves. The responsibility that lies on our shoulders is so huge. This is just the beginning”.

The statement released by Adesina also acknowledged that “the presence of seven African heads of state and heads of governments also sent a strong signal to global investors that Africa’s leadership is committed to creating a conducive business environment for investment to land on a smooth runway”.

African heads of state present at the Forum include President Cyril Ramaphosa of the Republic of South Africa;  President Sahle-Work Zewde of Ethiopia, President Alpha Conde of the Republic of Guinea; President Macky Sall of Senegal; and President Nana Dankwa Akufo-Addo of Ghana.

Other officials included the Vice President of Nigeria, Yemi Osinbajo; the Prime Ministers of Rwanda, Edouard Ngirente and Cameroon, Philémon Yang, as well as ministers representing the Kingdom of Morocco, Cote d’Ivoire, Tanzania, Niger, and Gabon. Governors and Board members of the African Development Bank also attended the event.

 

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