African Investment Forum secures $34bn investment interest – AfDB
The 2023 African Investment Forum (AIF) Market Days boardrooms secured $34.82 billion in investment interest during its three-day session in Morocco.
This figure is higher than the $31 billion investment interest secured in 2022.
Dr Akinwumi Adesina, African Development Bank (AfDB) Group President, announced the figure after the 2023 AIF Market Days held in Marrakech, Morocco.
The AIF Market Days is a dynamic, multi-stakeholder platform focusing on continental dealmaking, facilitating connections between project sponsors, policymakers, and investors.
The 2023 AIF Market Days event, themed “Unlocking Africa’s Value Chains,” brought together heads of state, decision-makers, multinationals, and investors.
- ” Talking of results, it is now time to unveil the results of the Africa Investment Forum 2023 Market Days boardrooms.
- ” We successfully secured 34.82 billion dollars of investment interests! What an incredible achievement, all in just 72 hours!
- ” I said, “Let’s do it again.” And we did it! And you did it! Thank you very much once again.
- ” These investments will deliver transformative impacts on the lives of people. That is the bottom line of the Africa Investment Forum: investing to improve lives,” Adesina said.
Participation institutions
According to the NAN report, he said the AfDB alongside its founding partners, attracted the participation of institutions such as the United Kingdom Export Finance, and the Multilateral Investment Guarantee Agency (MIGA).
- ”International Finance Corporation, Saudi Arabia Ministry of Investments, the United States Trade and Development Agency, and the European Bank for Reconstruction and Development participated.
- ”We also had the participation of the Japan International Cooperation Agency, and the Japan Bank for International Cooperation, among several others.
- “We are building a financial powerhouse around investments in Africa,” he said.
At some major events at the meeting, Adesina expressed delight at the Letter of Intent signed by the Chief Executive Officer of the Mohammed VI Investment Fund.
Supporting the private sector
According to him, it will invest in supporting the private sector, especially small and medium-sized enterprises and infrastructure in Morocco.
- He said: ”This is a great vision by His Majesty King Mohammed VI.
- ”Strong partnerships were forged with the launch of the Alliance for Special Agro-Industrial Processing Zones with a commitment of 3 billion dollars by the partners.
- ”Including the African Development Bank, the Africa Export-Import Bank, the United Nations Industrial Development Organisation, and Arise Integrated Industrial Platforms.”
The AfDB boss acknowledged the efforts of all participants who had worked to make the forum a success.
He thanked the heads of state and government, ministers, and government leaders. Investors, business developers, and all present.
