The African Development Bank President, Dr Akinwumi Adesina, (AfDB) has said the Africa Investment Forum has mobilised 110 billion dollars in investment interests to Africa since it started in 2018.<\/p>\n\n\n\n
Adesina was speaking at the Official Opening Ceremony of the Africa Investment Forum Market Days 2022 being held in Abidjan, C\u00f4te d\u2019Ivoire from Nov. 2 to 4.<\/p>\n\n\n\n
The AfDB president said the forum was a journey to mobilise investments for and showcase Africa.<\/p>\n\n\n\n
\u201cFour years ago, we began a journey together\u2014the African Development Bank, the Africa Import-Export Bank, the Trade and Development Bank, the Africa Finance Corporation, the Development Bank of South Africa, the European Investment Bank, the Islamic Development Bank and Africa 50\u2014when we established the Africa Investment Forum.<\/p>\n\n\n\n
\u201cThe Africa Investment Forum is delivering amazing investments for Africa.<\/p>\n\n\n\n
\u201cIn four years since the Forum commenced in 2018, it has helped to mobilise 110 billion dollars in investment interests to Africa.\u201d<\/p>\n\n\n\n
He further said investors should have confidence to invest in Africa.<\/p>\n\n\n\n
He said Moody Analytics of defaults on infrastructure investments over 14 years showed that Africa had the lowest default rate on infrastructure projects globally.<\/p>\n\n\n\n
\u201cMoody Analytics of defaults on infrastructure investments over 14 years show that Africa has the lowest default rate on infrastructure projects in the world (5.5 per cent), compared to Latin America (12.9 per cent), Asia (8.8 per cent), Eastern Europe (8.6 per cent), North America (7.6 per cent), and Western Europe (5.9 per cent).<\/p>\n\n\n\n
\u201cAfrica is not as risky as you think. Perception is not the same as reality.<\/p>\n\n\n\n
\u201cThe Africa Investment Forum will make investments to land in Africa. You have all it takes to succeed with your investments.\u201d<\/p>\n\n\n\n
Adesina also said the investors were at the forum to seek opportunities for investments, to identify, and to invest in bankable projects in Africa.<\/p>\n\n\n\n
The AfDB president further said that Africa beyond aid was an Africa driven by investments.<\/p>\n\n\n\n
He further spoke on the African Continental Free Trade Area, which he said was the largest free trade zone in the world connecting economies worth 3.3 trillion dollars.<\/p>\n\n\n\n
\u201cSo, Africa cannot be ignored. If you are not investing in Africa, think again!<\/p>\n\n\n\n
\u201cAfrica is the investment frontier in the world \u2013 today and in the future. Invest in Africa today, benefit from its great future.<\/p>\n\n\n\n
\u201cAt the Africa Investment Forum, we do deals, deals, and deals. And they are transformational deals,\u201d he said.<\/p>\n\n\n\n
Meanwhile, he said participants at the virtual Africa Investment Forum, held in March, secured 15.6 billion dollars in investment interest for the construction of the Lagos-Abidjan Highway.<\/p>\n\n\n\n
\u201cThe highway, which carries 75 per cent of trade in the West Africa region, will help unleash greater growth, trade, and investment across the region.\u201d<\/p>\n\n\n\n
Adesina further said the forum had outlined several investment ready projects for investors.<\/p>\n\n\n\n
\u201cThese range from renewable energy hydropower, gas infrastructure, railways, road, and water transport. They include agriculture, health, mining, fertiliser manufacturing, port infrastructure, and urban green transport.<\/p>\n\n\n\n
\u201cThey include sports, urban housing, and private equity feeder funds.\u201d<\/p>\n\n\n\n
Furthermore, he said Africa would account for over one quarter of the world\u2019s population by 2050 and would have the largest sources of renewable energy in the world.<\/p>\n\n\n\n
\u201cAfrica has 65 per cent of the uncultivated arable land left to feed the world,\u201d he said<\/p>\n\n\n\n
The AfDB president also said the forum would support women businesses.<\/p>\n\n\n\n
Presidents who attended were Alassane Ouattara of C\u00f4te d\u2019Ivoire, Nana Akufo-Addo of Ghana, Sahle-Work Zewde of Ethiopia, Emmerson Mnangagwa of Zimbabwe, and Patrice Talon of Benin.<\/p>\n\n\n\n
Also in attendance were Jewel Howard Talyor, Vice President of Liberia and Philip Mpango, Vice President of Tanzania.<\/p>\n\n\n\n
Furthermore, Jos\u00e9 Ulisses Correia e Silva, Prime Minister of Cabo Verde, and Patrick Achi, Prime Minister of C\u00f4te d\u2019Ivoire were present at the ceremony.<\/p>\n\n\n\n
Meanwhile, ministers representing Heads of State and Government included Niale Kaba, Minister of Planning and Development of the C\u00f4te d\u2019Ivoire and Governor of the AfDB Group.<\/p>\n\n\n\n
President of the ECOWAS Commission, Jean-Claude Kassi Brou, ambassadors and heads of diplomatic missions were also in attendance.<\/p>\n\n\n
The African Development Bank President, Dr Akinwumi Adesina, (AfDB) has said the Africa Investment Forum has mobilised 110 billion dollars in investment interests to Africa since it started in 2018. Adesina was speaking at the Official Opening Ceremony of the Africa Investment Forum Market Days 2022 being held in Abidjan, C\u00f4te d\u2019Ivoire from Nov. 2 […]<\/p>\n","protected":false},"author":2,"featured_media":25064,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1366,949,241],"tags":[22,66],"class_list":["post-46319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-economy","category-foreign","tag-africa","tag-investment","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\n