Forum kicks off
The African Development Bank’s Africa Investment Forum
(AIF), which is a world-class initiative positioned to transform the
continent’s economy and infrastructure development landscape, kicks off this
The forum, which is taking place at the Sandton Convention
Centre until Friday, is being held under the theme ‘All set for Africa’s first
The forum will be attended by a number of Heads of State and
Government from across the African continent, including Angola’s Joao Lourenco,
Benin’s Patrice Talon, Cameroon’s Paul Biya, Kenya’s Uhuru Kenyatta, Nigeria’s
Muhammadu Buhari and Rwanda’s Paul Kagame.
It provides an open platform to multilateral institutions,
governments and the private sector to improve the pipeline of projects that can
transform the continent.
For South Africa, the forum complements the government’s
various initiatives to support economic recovery, increase domestic and
international investment, and create and protect jobs.
About 28 boardroom sessions will deliberate on 61 bankable
projects worth $40 billion across the continent. Working with several global
partners and stakeholders, the bank hopes to make the forum the springboard for
African economic transformation.
The forum will be 100% transaction-based, according to the
African Development Bank.
The focus is on structuring deals, screening and enhancing
projects, attracting co-investors, and facilitating transactions to unlock
Africa’s multi-billion dollar investment opportunities.
Although brimming with investment opportunities, the African
Development Bank says there is an urgent need to bridge the gap between
Africa’s available capital and bankable projects.
Financing Africa’s development needs will require an
estimated US $600-700 billion per annum.
Of this, about US $130-170 billion a year is needed for
infrastructure, according to the African Development Bank’s African Economic
Meanwhile, President Cyril Ramaphosa is set to deliver the
keynote address at the welcome dinner, which will be held at the Sandton
Convention Centre at 19h00.