Africa Investment Forum secures US$32bn investment deals

President of the African Development Bank (AfDB), Akinwumi Adesina described the outcome of US$32bn worth of transactions as a big success.

“I could not be happier but we don’t want to congratulate ourselves. The responsibility that lies on our shoulders is so huge. This is just the beginning,” Adesina added.

Participants from Development Finance Institutions (DFIs), institutional investors, sovereign wealth, equity and private sector CEOs from across the continent gathered in South Africa to participate in the continent's first transaction-based forum.

The presence of seven African heads of state and heads of governments also sent a strong signal to global investors that Africa’s leadership is committed to creating a conducive business environment for investment to land on a smooth runway.

President Cyril Ramaphosa of the Republic of South Africa; President Sahle-Work Zewde of Ethiopia, President Alpha Conde of the Republic of Guinea; President Macky Sall of Senegal; President Nana Dankwa Akufo-Addo of Ghana attended the Forum.

Other officials included the vice-president of Nigeria, Yemi Osinbajo; the prime ministers of Rwanda, Edouard Ngirente and Cameroon, Philémon Yang, as well as ministers representing Morocco, Côte d’Ivoire, Tanzania, Niger, and Gabon. In attendance also were governors and board members of the AfDB.

Energy, infrastructure, food and agribusiness opportunities and transactions attracted high-level attention from global and African investors, positioning the forum as the next big investment frontier, and on global and African investors’ radars.

Africa-to-Africa investment emerged as a key take away from the Forum. Gauteng Premier David Makhura highlighted ­US$6bn worth of South African deals signed, and the US$2.6bn MOU signing with Ghana for a Skytrain project in Accra.

“We are very proud that South African companies are investing in other African countries. This is very fulfilling,” Makhura concluded.