The African Development Bank (AfDB) is to hold discussion on “Attracting Private Sector Investment into Africa” along BRICS Business Forum, the bank has said.
The discussion aims to broaden understanding of the key roles that governments, multilateral institutions and private sector can play in accelerating Africa’s investment opportunities ahead of the Africa Investment Forum (AIF) and is in and in collaboration with the South African Chamber of Commerce and Industry (SACCI).
The event to be held at the Capital Empire Hotel in Johannesburg, South Africa on 25 July 2018, will also address address the opportunities and challenges of attracting private capital to the continent as well as achieving inclusive economic growth and job creation, an AfDB statement added.
AIF−Africa’s own investment marketplace for accelerated economic transformation – will be hosted by Gauteng Province from November 7-9, 2018 at the Sandton Convention Center in Johannesburg.
Working with multilateral institutions, the private sector, and governments, the bank says it is helping South Africa and other African countries to develop investment-ready projects for investors, fund managers and others managing substantial assets.
AfDB’s Economic Outlook 2018 indicates that Africa’s infrastructure requirements amount to US $130-170 billion a year. Total commitments stood at just US$63 billion in 2016, leaving a financing gap of approximately US$ 67 to US$107 billion a year.
To address these challenges, through the Africa Investment Forum, the Bank, and its partners will screen and enhance bankable projects, attract co-investors, and facilitate transactions to close Africa’s investment gaps.
At the official launch of the AIF on May 8, the Premier of Gauteng explained that South Africa would need US $100 billion over the next 10 years for infrastructure development. “The African Investment Forum will be a place where we want to bring in a pool of capital for projects. Africa has potential. The Bank’s High 5 development priorities resonate with our national economic plans. There is no better time to align our development priorities than this.”
“The Africa Investment Forum is indeed Africa’s investment marketplace. We have no doubt that it will have the desired development impact. South Africa is not only a gateway for investments on the continent, but also a leading African investor. We thank you for allowing South Africa to host the inaugural event,” said Nhlanhla Nene, South Africa’s Minister of Finance, ahead of the event.