Africa Investment Forum opens in South Africa on Monday November 11

Africa

Accra, Nov. 8, GNA –
The second edition of the annual Africa Investment Forum (AIF) will open in
Johannesburg, South Africa, next Monday with development finance institutions
determined to tackle the continent’s infrastructure investment challenges and
advance Africa’s economic transformation agenda.

The AIF is the
African Development Bank’s innovative marketplace event that will bring
together project sponsors, pension funds, sovereign wealth funds, private
investors, policy makers, private equity firms, and heads of government.

The forum, which
will run from Monday 11 to Wednesday 13 November 2019, is to facilitate transactions
to close Africa’s investment gap and transform the continent’s economic
landscape.

It will provide a
co-guarantee and co-financing platform and a pipeline of bankable projects to
raise capital and accelerate the financial closure of deals.

Already, more than
30 U.S pension fund managers, private sector CEOs and institutional investors
have signaled their strong interest in participating in the Forum, following a
road in New York on 27 September 2019.

With over US$38.7
billion investment interest secured in less than 72 hours, the 2018 Africa
Investment Forum exceeded all expectations.

Chinelo Anohu, Head
and Senior Director of the Africa Investment Forum, stated: “We have
drastically reduced the number of plenaries, from 13 to 5, to focus more on
business discussions and deal making sessions.

As a result, the
2019 Africa Investment Forum is gaining more momentum and we have more partners
willing to join this year’s edition.”

The 2018 Forum
contributed significantly to reshaping the narrative about Africa. “For
decades, the risk or at least the perception of risk has hindered Africa’s
efforts to attract foreign investment. The Africa Investment Forum is tackling
this problem head-on,” commented the President of the African Development Bank,
Akinwumi A. Adesina.

The inaugural forum
powerfully demonstrated the Bank’s convening power and ability to rally key
development institutions, global and regional investors around the common
objective of fast-tracking Africa’s economic transformation.

The collective
resolve to tackle head-on Africa’s annual infrastructure investment gap,
estimated at between US$130 billion and US$170 billion, was on full display
during the opening ceremony.

“The inaugural
Africa Investment Forum witnessed an extraordinary level of engagement. The
conversation moved from talking about investment to advancing deals towards
financial closure. 2019 will validate and redefine the perception of investor
confidence regarding the African Continent,” said David Makhura, Premier of
Gauteng province in South Africa.

For Alain Ebobisse,
CEO of Africa50, the continent is brimming with opportunities that are waiting
to be seized.

“The Africa
Investment Forum not only brings together investors and stakeholders to
initiate deals, but can help close transactions that would otherwise take
months or years. In infrastructure, this makes a significant difference since
the financial and opportunity costs of project delays are high.”

Africa’s development
challenges need a swift, bold, and robust response. Of the world’s 20 countries
with the least access to electricity, 13 are in Africa. Investment in the
region of $43-55 billion per year is needed until 2030-2040 to meet demand and
provide universal access to power.

“We will be reaching
for new heights. Already, a robust pipeline of deals valued at billions of US
dollars, in energy, cross-border infrastructure, agriculture will be tabled for
discussions in the boardroom sessions,” he said.

Last year’s Forum
attracted 1,943 participants representing 87 countries and brought together 400
investors from 52 countries.

The innovative
investment marketplace, brings together heads of state, project sponsors,
pension funds, sovereign wealth funds and other institutional investors.
Policymakers, private equity firms, and other key senior government officials
will also be present.

GNA

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