Reading Time: < 1 minute

 

The just concluded, first-of-its-kind Africa Investment Forum, held in Johannesburg, South Africa, would provide a much needed impetus for the economic and industrial growth of the continent. The heads of Development Finance Institutions (DFIs) that participated in the event, praised the event, for its exceptional gathering that “exceeded all expectations.”

President of the African Development Bank, Akinwumi Adesina, said: “The needle is shifting, pointing to the right direction, pointing to Africa. I am thankful for the investors, I am thankful for the confidence they have in Africa. Africa has grown up. Africa is not going to be developed by aid. It will be developed by investment and I think you are beginning to see it.¨

Apart from DFIs, the other key financial players like institutional investors, sovereign wealth, equity and private sector CEOs from across the continent participated in the meeting.

During the summit, 61 transactions valued at US$40.4 billion were tabled for discussions in boardroom sessions and, of which, 45 deals worth over US$32 billion obtained investment interest.

President Adesina termed the $32 billion worth of transactions as a big success. “I could not be happier…but we don’t want to congratulate ourselves. The responsibility that lies on our shoulders is so huge. This is just the beginning.¨

The presence of seven African heads of state and heads of governments also sent positive notes to global investors that Africa’s leadership is committed to creating a conducive business environment for investment to land on a smooth runway. President Cyril Ramaphosa of the Republic of South Africa; President Sahle-Work Zewde of Ethiopia, President Alpha Conde of the Republic of Guinea; President Macky Sall of Senegal; President Nana Dankwa Akufo-Addo of Ghana made the trip to South Africa for the Forum. Other officials included the Vice President of Nigeria, Yemi Osinbajo; the Prime Ministers of Rwanda, Edouard Ngirente and Cameroon, Philémon Yang, as well as ministers representing the Kingdom of Morocco, Cote d’Ivoire, Tanzania, Niger, and Gabon. In attendance also were Governors and Board members of the African Development Bank.