The Africa Investment Forum 2024 Markets Days has been a resounding success, with a total of $29.2 billion in new investor interests generated over three days of intensive discussions in Rabat, Morocco.
President of the African Development Bank and Chair of the Africa Investment Forum, Dr. Akinwumi A Adesina, hailed the achievement as “truly outstanding,” noting that there are still ongoing discussions for additional investments on top of the 37 deals that were already finalized during the event. The participation of 2,300 investors and delegates from 83 countries marked a 60% increase from the previous year, signaling a growing interest in investing in Africa.
The projects presented at the Market Days covered a wide range of sectors including transport, power, energy, agribusiness, industry, mining, pharmaceuticals, private equity, tourism, urban infrastructure, water management, and sanitation. Adesina emphasized the diversity of opportunities available across the continent and highlighted the Forum’s role in connecting investors with innovative projects.
The success of the Africa Investment Forum was attributed to the collaborative efforts of the nine founding partners, including Africa50, Afreximbank, and the Development Bank of Southern Africa. The event was hosted for the second consecutive year in Morocco, with the Minister of Economy and Finance, Nadia Fettah Alaoui, commending the Forum as a catalyst for transforming Africa’s investment landscape.
In recognition of his exceptional leadership, Dr. Adesina was named “African of the Decade” by the All Africa Business Leaders Award. As his tenure at the African Development Bank comes to an end next year, Adesina expressed his pride in the achievements of the institution and reiterated his commitment to advocating for investment in Africa.
The Market Days saw significant investor interest surpassing initial targets for projects such as Nigeria’s Special Agro-Processing Zone, Morocco, and the Democratic Republic of the Congo. The event concluded with a reaffirmation of the founding partners’ commitment to collaboration and the mobilization of critical investments for Africa.
Looking ahead, the Africa Investment Forum is set to expand its reach with the addition of new sponsors and partners for future editions. The strong collaboration among stakeholders and the quality of investors participating in the boardroom discussions were highlighted as key factors contributing to the success of the event.
As the Africa Investment Forum continues to grow, it remains a vital platform for catalyzing transformative investments across the continent. The commitment of its partners to deepening collaboration and enhancing the platform’s convening power bodes well for the future of investment in Africa.
