300 investors, leaders to attend AfDB Africa Investment Forum

At least 300 global investors, heads of states, ministers, and corporate leaders will be attending the Africa Development Bank’s two-day virtual Africa Investment Forum (AIF) that is expected to yield at least $58 billion worth of investment.

The forum, which will run from March 15-17, 2022, acts as Africa’s investment market place where different global stakeholders come together to discuss and close financial deals meant to bridge Africa’s investment gaps.

The forum will be attended by at least 11 African heads of state, including Tanzania’s Samia Suluhu, Rwanda’s Paul Kagame, DRC’s Felix Tshisekedi, Nigeria’s Muhammadu Buhari, and South Africa’s Cyril Ramaphosa.

During the opening ceremony for the sessions, Dr Akinwumi Adesina, AfDB President and AIF Chairman, said, “42 project deals with a combined value of $58 billion are expected to be closed during this forum.”

During the last two such forums in 2018 and 2019, investment project deals worth a total of $80 billion were closed, Dr Adesina said.

In this year’s deals, East Africa will benefit from a $3.3 billion railway corridor, linking Burundi with Tanzania.

The package also includes a $150 million film academy in Nigeria and a $5 million funding for women-led projects across Africa.

This article originally came from The East African

Photo: NATION MEDIA GROUP