The Africa Investment Forum (AIF) boardrooms have drawn $32.8 billion in investment interest in bankable projects
Unveiling the results of the Forum’s virtual boardroom sessions, African Development Bank Group President Dr Akinwumi A. Adesina told the 500 project sponsors, investors, deal brokers and government representatives from around the world who took part in them: “In 72 hours, you all connected, you struck deals and you created success.”
The three-day virtual boardroom meetings showcased 40 projects across several sectors. Adesina said Africa was clearly back for investments as the COVID-19 pandemic gradually receded.
Describing the mood in the boardroom sessions, Alain Ebobissé, CEO of Africa50, said: “There were real and exciting deals that were transacted during this forum. We’re seeing a lot of interest from the private sector in various sectors, including power – particularly renewables, the ICT and telecom sector, and healthcare. We need to make sure we speed up the implementation of that so that success will generate more success.”
The outstanding results from the virtual boardrooms confirmed robust interest in a range of economic sectors that offer a high return on investment as well as a high social impact for Africans. Key sectors included transport, gas and energy, healthcare, agriculture, information and communication technology. Specific boardroom sessions focused on Africa’s creative industries and women-led businesses.