The African Development Bank (AfDB) has drawn $31 billion in investment interest from African and global investors.
In a statement issued by the Communication and External Relations unit of the AfDB, AfDB President, Dr Akinwumi Adesina, said this at the 2022 Africa Investment Forum Market Days, which ended on Friday.
Adesina commended the forum’s outcomes and the partners’ commitment.
“Despite the challenges, we are not afraid, and neither have we despaired nor lost hope.
“We are excited and committed to a collective goal; accelerating the closure of deals to transform Africa and its investment landscape.”
He said the AIF’s focus was to attract more foreign direct investment to Africa and ensure the private sector remained the driving force of that transformation.
“The private sector is Africa’s growth accelerator. We must mitigate real and perceived risks and persuade the private sector that investing in Africa is safe,” Adesina said.
Combined with $32.8 billion from the rescheduled 2021 Africa Investment Forum Market Days, the forum has mobilised a total of 63.8 billion dollars of investment interest in 2022.
Islamic Development Bank President, Dr Mohammed Al-Jasser, said the organisation was hopeful that its commitment to the AIF would translate into tangible and measurable outcomes for the benefit of Africa.
Al-Jasser said the IsDB Group was committed to supporting transformative African projects, especially those promoting resilience and financial, economic, and social sustainability.
Furthermore, Admassu Tadesse, Trade and Development Bank Group President and Chief Executive, spoke on the value of the “AIF spirit” in doing more to advance and close investments.
Tadesse said, “Notwithstanding ongoing global crises, we have to keep our eye on the ball. We must continue to encourage and enable investment in agriculture and industry, as well as infrastructure.
“Growing our own food and manufacturing more will enable us to trade more. It will lead to less overall greenhouse gas emissions linked to imports from far away.
“In the process also generating more employment and opportunities for our people.”
Also, European Investment Bank President, Werner Hoyer, said the bank was excited to see how the creativity and vision of African innovators were making an impact.
Hoyer said, “Particularly in the area of technology which holds such great potential for Africa’s future”.
Mohan Vivekanandan, Group Executive Origination and Coverage, Development Bank of Southern Africa, said a unique feature of the 2022 forum was that it focused on transactions.
