RABAT, Morocco, November 14, 2023 -/African Media Agency (AMA)/-The Africa Investment Forum (AIF) Market Days 2023 attracted $34.82 billion in investment interest for infrastructure projects , agriculture, healthcare and creative industries.
The three-day global event, themed “Unlocking Africa’s Value Chains”, concluded on Friday in the Moroccan city of Marrakech. The event attracted more than 1,000 delegates from over 60 countries.
“We are building tremendous power around investments in Africa that will have a transformative impact on people’s lives. This is what the Africa Investment Forum is all about: investing to improve lives,” said the President of the African Development Bank Group and Chairman of the Africa Investment Forum, Mr. Akinwumi Adesina.
“The Africa Investment Forum was a turning point which made it possible to explore Africa’s opportunities, discuss challenges and solutions and strengthen the partnerships necessary to achieve our aspirations,” declared the Moroccan Minister of Economic Inclusion, Small Businesses, Employment and Skills, Mr. Younes Sekkouri.
Delegates included several African Heads of State and Government, including the President of Comoros and current Chairman of the African Union, Mr. Azali Assoumani, the President of Tanzania, Ms. Samia Suluhu Hassan, the President of Sierra Leone, Mr. Julius Maada Bio, and the Prime Minister of Rwanda, Mr. Édouard Ngirente. The Prime Minister of Barbados, Ms. Mia Mottley, was also in attendance.
The Africa Investment Forum is a multi-stakeholder platform focused on continental deal-making and project facilitation between project promoters, policy makers and investors. Including this edition, the AIF has attracted nearly $180 billion in investment interest since its launch in 2018.
The President of Tanzania, Ms Samia Suluhu Hassan (centre), chairing the boardroom where the Mtwara-Mbamba Bay standard gauge railway in Tanzania and the Mangapwani II integrated port of Zanzibar are discussed.
Moroccan Minister of Economic Inclusion, Small Business, Employment and Skills, Mr. Younes Sekkouri, said the Forum highlighted the critical importance of South-South partnerships and the crucial issue of infrastructure financing.
“Africa is at the center of international attention as one of the most dynamic and promising markets in the world. The Africa Investment Forum was a turning point to explore these opportunities, discuss challenges and solutions and strengthen the partnerships needed to realize our aspirations,” said Mr. Sekkouri.
The transactions spanned several sectors, including the Mtwara-Mbamba Bay standard gauge railway line in Tanzania and the Mangapwani II integrated port in Zanzibar. Agreements were also reached in the agribusiness, renewable energy, creative industries and healthcare sectors.
Sierra Leone’s President, Mr. Julius Maada Bio, discusses his country’s proposed rice industrial complex during a presidential boardroom.
Mr. Adesina thanked the King of Morocco Mohammed VI, who placed the event under his high patronage.
“Morocco was the right choice. We enjoyed incredible hospitality. The decision of the AIF founding partners to organize Market Days 2023 in Marrakech, two months after the devastating earthquake in September, and the support and resilience of the Kingdom and the government of Morocco are highly commendable. “, he greeted.
The Africa Investment Forum featured several key side events, including a special session on regional transport corridors, a roundtable discussion with a Japanese business delegation, and a mayors’ forum on how to leverage cities and municipalities to unleash growth and development. The mayors’ event notably saw the participation of mayors and governors of the cities of Lagos, Nairobi, Addis Ababa and Abidjan, as well as ministerial representation from Rwanda.
The President of Togo, Mr. Faure Gnassingbé (right) chairs the boardroom on his country’s railway and logistics project.
At the launching ceremony of the Alliance for Special Agro-Industrial Processing Zones, the African Development Bank, the African Export-Import Bank and the United Nations Industrial Development Organization committed three billion dollars in favor of the alliance.
Founding partners welcome Market Days
The Managing Director of the Islamic Trade Finance Corporation, Mr. Hani Salem Sonbol, who represented the President of the Islamic Development Bank (IDB), Mr. Muhammed Sulaiman Al Jasser, said that Africa is a land of possibilities infinite and an engine of dynamic growth.
“As a founding partner of the Alliance for Special Agro-Industrial Processing Zones, the IDB has committed $300 million to fuel Africa’s agro-industrial growth. We are ready to work in partnership with investors, businesses and development partners to unlock the continent’s full potential,” he said.
View of the closing plenary: united for success.
“As a founding partner, we, the TDB Group, are pleased to see that the Africa Investment Forum continues to attract various financiers and institutional investors for greater commitments in investment and co-financing opportunities,” underlined Mr. Admassu Tadesse, Chairman Emeritus and Managing Director of the Eastern and Southern Africa Trade and Development Bank Group.
“A strong, innovative and resilient private sector is essential to the growth of African economies. We are happy to see that the creativity and vision of African innovators are having an impact, particularly in the technological field,” said Ambroise Fayolle, Vice-President of the European Investment Bank, commenting on the boardroom results.
“The engagement of several partners on a certain number of transactions is a positive result. Our boardroom meetings generated strong interest and we hope to receive commitments subsequently,” highlighted the Managing Director of the Development Bank of Southern Africa, Ms. Boitumelo Mosako, commenting on the success of the AIF.
Around 50 Japanese companies participated in the AIF to explore investment opportunities in Africa.
Mr. Samaila Zubairu, Chief Executive Officer of Africa Finance Corporation, said that rich and diversified value chains in Africa form the backbone of the African continent’s vast potential. “Our commitment to adding value across the entire economic spectrum is unwavering, as we work to urgently create jobs for our youth through innovation and growth. Collaboration through strategic partnerships such as the Africa Investment Forum is essential to unlocking these value chains to ensure a brighter and more sustainable future. »
“This year again, the Africa Investment Forum demonstrated the commitment of the founding partners to launch projects that harness Africa’s rich potential in various sectors,” said Mr. Alain Ebobissé, Managing Director of Africa50.
The African Development Bank also signed a letter of intent with Morocco’s sovereign wealth fund, the Mohammed VI Fund for Investment, to support the private sector, particularly small and medium-sized enterprises and infrastructure in Morocco.
Mr. Akinwumi Adesina, President of the African Development Bank Group (right), and Mr. Mohamed Benchaâboun, President of the Mohammed VI Fund for Investment, signed a letter of intent to support the private sector, particularly small and medium-sized businesses and infrastructure in Morocco.
The Africa Investment Forum was launched in 2018 to leverage the collective resources of its co-founders and reduce the continent’s infrastructure investment gap.
The founding partners of the Africa Investment Forum are the African Development Bank Group, Africa50, Afreximbank, Africa Finance Corporation, Development Bank of Southern Africa, European Investment Bank, Islamic Development Bank and the Eastern and Southern African Trade and Development Bank.
Distributed by African Media Agency (AMA) for the African Development Bank.
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Source : African Media Agency (AMA)