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African Investment Forum success due to ‘hard work’ 
November 16, 2019, 12:22 pm

Fifty-two boardroom pitches from 25 countries secured investments worth $40.1 billion.

The AIF focused on projects and advancing deals spanning several sectors, including Energy, Infrastructure, Transport and Utilities, Industry, agriculture, ICT and Telecoms

 

The success of the second annual Africa Investment Forum (AIF) in Johannesburg was due to hard work according to Akinwumi Adesina, the president of the African Development Bank (AfDB). The AIF brings together project sponsors and investors, borrowers, lenders, policy makers and public and private sector investors, to promote Africa’s investment opportunities.

In the final media conference, Adesina, said a useful analogy would be that of an elite athlete as the podium finish only came after many hours of training and hard work.

“The aim is to go faster every time you take part in a race. First you secure bronze, then you aim for silver, then gold and finally you aim to set a new world record. In the same way, we are building on what happened last year and next year will be better than this year, but you have to remember that what you saw in the past three days is the end result of a year-long process of hard work,” he said.

He praised the media for their role in highlighting the fact that Africa is working and that as region it has the largest number of countries growing above 5 per cent.

“It is through your reporting that Africa is projected to the rest of the world and it is thanks to you that we have 61 countries from outside Africa that have to the AIF to hear what we have to offer. It is our collective responsibility to ensure that we create a partnership for investing in Africa as the deals that were made last year and this year will improve the lives of many Africans. Africa is impatient and we need to move faster and next year we will have a special focus on youth, women and urban development,” he added.

There was a 44 per cent rise in the value of deals that went into the board rooms to $67.6 billion for 56 deals compared with $38.7 billion in 45 deals last year. Of the 56 transactions that went into the board rooms, 52 secured investment interests from 25 countries for deals worth $40.1 billion.

The AIF had 2,221 participants who came from 109 countries, 48 from Africa and 61 from outside of Africa. A highlight was the United States NBA session on investing in sports, especially sports infrastructure.

Chinelo Anohu, the Forum Senior Director said said the AIF was a platform that will change Africa’s investment landscape.

The AIF focused on projects and advancing deals spanning several sectors, including Energy, Infrastructure, Transport and Utilities, Industry, agriculture, ICT and Telecoms.

“Now the hard work begins to fast-track these deals to financial closure. Africa is bankable,” Adesina concluded.

Helmo Preuss in Johannesburg, South Africa for The BRICS Post

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