Sky-high optimism as delegates from 109 countries attend the 2019 African Investment Forum in South Africa

Although we are headquartered in Washington D.C., USA, our reporters and editors are working around the globe to cover what you care about. Become one of our members and help us keep our quality news free and available for all.

Delegates from 109 countries, including from 61 non African nations, are headed for Johannesburg for the African Investment Forum starting on Tuesday.

Optimism is sky-high with many predicting that boardroom transactions may surpass the $43 billion pledged in 2018. 

The 2019 Forum runs from 11 to 13 November in Johannesburg, South Africa.

The forum at the luxurious Sandton Convention Centre hope to trigger an interest amongst African nations to work together to speed up the continent’s international appeal as a lucrative investment destination.

Afreximbank President Prof. Benedict Oramah expressed concern over the fragmentation of 55 markets on the continent. 

“Until Africa forms a common platform for an economic and integrated continent, some countries will not survive. All around the world continents are working together. Multilateralism is becoming a challenge and unless the continent comes together we cannot negotiate with bigger economies,” said Oramah. 

A growing number of companies attend investment conferences around the world, looking for opportunities. The Africa Investment Forum 2019 has 29 countries that are participating in deals on the table. Last year, the African Development Bank invested $18bn in low-income countries and fragile states which many developed economies regard as too risky. The African Development Bank President Akinwumi Adesina said the bank is not scared of going into those countries. “It is my neighbourhood and my neighbourhood cannot be risky. That’s why the Bank has a facility that is called the private sector enhancement facility, which allows us to go into risky investments. We invest in places where people think we can never go and we don’t lose money there. We are going to make sure that investment continues to go into low-income and fragile states.”

One of the success stories following last year’s conference is the agreement the Bank signed with the Eastern and Southern African Trade and Development Bank (TDB). TDB President Admassu Tadesse explains, “It helps if you find partners you can scale-up collectively. We have signed with the African Development Bank a risk participation agreement that amounts to $300m that allows us to move speedily into deals and have partners that will work alongside us.”

The TDB will also be signing an agreement with the European Union Bank.

The Africa Investment Forum is an innovative, multi-stakeholder transactional marketplace conceived by the African Development Bank, aimed at raising capital, advancing projects to the bankable stage, and accelerating financial closure of deals. 

The 2018 inaugural Africa Investment Forum secured investment interests for deals valued at 38.7 billion — in less than 72 hours.

Read full article

TODAY NEWS AFRICA
TODAY NEWS AFRICAhttps://todaynewsafrica.com
TODAY NEWS AFRICA is registered and headquartered in Washington, District of Columbia, United States of America. Our publication is widely read, respected and influential. By providing daily answers to questions our readers have about the people, the businesses and the continent of Africa, we are reaching a diverse and wide audience from around the world. Our readers, many of them world leaders, trust us because we are independent and truthful. Our advertisers understand the difference between news, views and ads. Contact us: [email protected]

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Now

MOST POPULAR

U.S. coronavirus infections break record, hit nearly 46,000 in a single day

The United States recorded nearly 46,000 new coronavirus infections on Friday, the highest number in a single day since the pandemic...

SEE IT: Certified true copy of the conviction of Nigeria’s House of Representatives Speaker Femi Gbajabiamila in the United States for $25,000 theft

The Speaker of the Nigerian House of Representatives Femi Gbajabiamila was convicted in the state of Georgia in the United States...

UPDATED: Wife of dead Nigerian Senator Bayo Osinowo recovering from COVID-19 as son beats the disease

Alhaja Mariam Osinowo, the wife of Senator Bayo Osinowo who passed away on Monday, is recovering from the novel coronavirus, family...

Followers of popular African prophet TB Joshua claim COVID-19 and global economic devastation confirm his prophecy on humility

The outbreak of COVID-19 has "brought this nation to its knees," Dr Robert Redfield, director of the US Centers for Disease...

Nigerian Governor Oluwarotimi Akeredolu tests positive for coronavirus

The Ondo State Governor, Oluwarotimi Akeredolu, has tested positive for coronavirus, he said on Twitter on Tuesday. Ondo is a state...
- Advertisement -

LATEST STORIES

WHO says COVID-19 economic impact in Africa more severe than disease itself as continent struggles to raise remaining $44 billion of $110 billion needed

The economic impact of COVID-19 in Africa is more severe than the disease itself, at least for now, the World Health...

Daily coronavirus infections in U.S. surpass 50,000 for first time

New reported coronavirus infections in the United States surpassed 50,000 on Wednesday for the first time, with California reporting record 9,740 new...

African Development Bank names former President of Ireland and two legal experts to lead independent investigation into allegations of corruption against Akinwumi Adesina

The African Development Bank has named a former President of Ireland, a former attorney general in The Gambia and a Washington...

António Guterres warns the world is in turmoil

United Nations Secretary General António Guterres warned in an opinion piece on Wednesday that the world was in turmoil.

COVID-19 infections top 400k in Africa as death toll surpasses 10k and WHO warns pandemic accelerating dangerously

The number of people who have contracted COVID-19 in Africa surpassed 400,000 on Wednesday, as death toll exceeded 10,000, data from...

[/read_more]

Read full article

error: Alert: Content is protected !!
Share
Tweet
Share
Pin
WhatsApp