Africa requires between $600 billion and $700 billion annually finance development annually.
The Africa Development Bank (AfDB) unveiled in its “African Economic Outlook 2018’’ that the continent needs to bridge the gap between available capital and bankable projects.
The bank noted that out of the said amount, between $130 billion and $170 billion was needed for infrastructure yearly.
The AfDB, however, said it was working with other multilateral development partners and stakeholders to tackle the continent’s massive infrastructure and development needs.
To this end, the bank said it had concluded plans to organise its First Africa Investment Forum (AIF).
The bank said that the Forum, an innovative investment market place would bring together project sponsors, pension funds, Sovereign Wealth Funds, private investors, and
policy makers.
policy makers.
According to the bank, the Forum will
also bring together private equity firms, and heads of governments to
raise capital to advance Africa’s economic transformation agenda.
also bring together private equity firms, and heads of governments to
raise capital to advance Africa’s economic transformation agenda.
It said that the Forum would be 100 per
cent transaction-based, with focus on structuring deals, screening and
enhancing projects, as well as attracting co-investors.
cent transaction-based, with focus on structuring deals, screening and
enhancing projects, as well as attracting co-investors.
The bank noted that the Forum, scheduled
to hold between Nov. 7 and Nov. 9, in Johannesburg, would also
facilitate transactions to unlock Africa’s multi-billion dollar
investment opportunities.
to hold between Nov. 7 and Nov. 9, in Johannesburg, would also
facilitate transactions to unlock Africa’s multi-billion dollar
investment opportunities.
