IT was deals that brought participants to the 2019 Africa Investment Forum (AIF) and they were not disappointed. The second Forum ended on a high note on Wednesday, with 56 boardroom deals valued at $67.6 billion tabled – a 44 per cent increase from last year.
Fifty-two deals worth $40.1 billion secured investor interest compared with $37.8 billion dollars last year.
During the 2018 edition of the Forum, 61 transactions valued at $46.9 billion were tabled for discussions in boardroom sessions and 49 deals worth $38.7 billion, secured investment interest.
Presiding over the session: “Unveiling the Boardroom Deals”, African Development Bank (AfDB) President Akinwumi Adesina said that was the spirit of the AIF: “transactions, transactions, transactions. Deals, deals, deals!”
Over 2,221 participants attended this year’s Forum from 109 countries, 48 from Africa and 61 from outside of Africa. They came from government, the private sector, development finance institutions, commercial banks, and institutional investors.
”The Forum is a platform that will change Africa’s investment landscape,” Chinelo Anohu, the Forum Senior Director said. “Africa is ready to engage on its own terms.”
High points of the Forum included a $600 million COCOBOD deal for Ghana, for cocoa processing, warehousing and processing
$58 million for the Alithea Identity Fund for women
A concession agreement for the Accra Sky Train, worth $2.6 billion
The Forum focused on projects and advancing deals spanning several sectors, including energy, infrastructure, transport and utilities, industry, agriculture, information communication technology (ICT) and Telecoms.
“Now the hard work begins to fast-track these deals to financial closure… Africa is bankable,” Adesina said.
Meanwhile, the African Finance Corporation (AFC), yesterday said the AfDB Group has invested $50 million in its equity.
A statement said the AfDB’s investment in AFC will enable both institutions to accelerate infrastructure development and delivery on the continent by deepening co-financing opportunities, joint implementation, knowledge transfer and capacity development for the benefit of Africa.
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