The African Development Bank Group (AfDB) and its partners are gearing up for another successful Africa Investment Forum later this year, following the huge success of the 2024 Market Days event. Last year’s forum attracted over 2,300 investors and participants from 83 countries, generating $29.2 billion of investment interest.
During a meeting in Washington, DC, the founding partners of the Forum reflected on its seven-year journey, which has mobilized over $225 billion in investment interest and established itself as a global investment movement for Africa. The partners include the African Development Bank, Afreximbank, Africa50, Africa Finance Corporation, and others.
Dr. Akinwumi Adesina, President of the African Development Bank Group and Chairman of the Africa Investment Forum, emphasized the importance of investment in Africa for its development. He praised the Forum for changing perceptions about investing in Africa and showcasing the continent as a bankable destination.
The partners discussed the Forum’s achievements in transforming perceptions and delivering high-quality deal pipelines. To date, 22 deals have closed, with 41% of the financing provided by founding partners and other institutional investors. They also outlined a Partnership Framework to ensure the Forum’s sustainability, expected to be signed at the African Development Bank Annual Meetings in May.
As Adesina prepares to conclude his tenure as president of the African Development Bank, he expressed gratitude to the partners for their support. The partners unanimously committed to the Forum for its ability to mobilize critical investments for transformative projects across Africa.
The CEO of Africa 50 highlighted the Forum’s uniqueness in focusing on transactions in boardrooms rather than speeches. Other partners echoed the importance of African ownership of development and praised the Forum’s strength as a global brand promoting synergies among its partners.
Representatives from BADEA, Afreximbank, and the European Investment Bank expressed their commitment to supporting the Forum. They emphasized the importance of collaboration and informed decision-making in investment in Africa.
In closing, Adesina urged continued collaboration to fast-track Africa’s development. The success of the Africa Investment Forum demonstrates the potential for investment to drive Africa’s growth and prosperity.
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