Africa is a bankable investment destination
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Africa is a bankable investment destination
The success of AIF’s market days shows that Africa is a bankable investment destination.
Buoyed by last year’s successful Africa Investment Forum’s (AIF) market days that generated USD29.2-billion of investment interest, its nine founding partners are bracing for an even bigger and better event later this year.
The 2024 AIF market days attracted more than 2,300 investors and participants from 83 countries around the world, more than 40 boardrooms, and 15 sponsors, including investment banks, insurers, and export credit agencies. Many more sponsors are lining up for the 2025 edition.
A remarkable journey
Meeting last week in Washington, DC, on the sidelines of the World Bank and IMF Spring Meetings, the partners reflected on the Forum’s remarkable seven-year journey, which has mobilised more than USD225-billion in investment interest and established itself as a global investment movement for Africa.
The partners include the African Development Bank, Afreximbank, Africa50, Africa Finance Corporation, Development Bank of Southern Africa, Islamic Development Bank, European Investment Bank, Trade and Development Bank, and newcomer, the Arab Bank for Economic Development in Africa (BADEA).
Africa is a bankable destination
According to the President of the African Development Bank Group and Chairman of the Africa Investment Forum, Dr. Akinwumi Adesina the AIF has has demonstrated to the world that Africa is a bankable destination.
“Africa will not be developed by aid. It will be developed by investment,” Adesina says.
Since the Forum was established in 2018, 22 project deals have closed, with 41% of the financing for these mega projects provided by founding partners alongside other institutional investors.
The Forum partners again unanimously committed to mobilise critical investments for transformative projects across the continent.
Fast tracking development across Africa
At the meeting Andrew McDowell, Director General of the European Investment Bank Global, spoke about the importance of institutional collaboration, which helps institutions like his make informed decisions about investment in Africa.
Adesina closed the event by calling on all investors and partners to “continue
fast-tracking Africa’s development together, now and in the future!”
Africa is a bankable investment destination
