Africa Investment Forum Market Days 2021, one of the African Development Bank’s largest flagship initiatives, set to attract billions of dollars in investment for strategic development projects across the continent . The annual forum has become an invaluable platform during which the Bank successfully attracts essential investments for the continent’s needs in infrastructure, agriculture and health system, among others, especially as Africa is seeking to recover from the impacts of the Covid-19 pandemic.
The growing success of the Africa Investment Forum gives credence to the exhortation to investors of the President of the African Development Bank, Dr Akinwumi A. Adesina, who said that Africa must be respected today as the global frontier of the ‘investment.
The third edition of the Africa Investment Forum Market Days will take place in Abidjan, CÃ´te d’Ivoire, in a hybrid format from December 1-3. A pent-up investment request is anticipated: the Market Days did not take place in 2020 due to the pandemic. The 2021 edition will take place against the backdrop of the persistent pandemic as well as the climate discussions recently concluded at COP26 in Glasgow. Both underscored the urgent need to harness Africa’s challenges as investment opportunities.
In addition, there is a growing consensus that the private sector will be essential to deliver the scale and speed needed to urgently address bottlenecks in many sectors.
Market Days 2021 will feature the unique board sessions of the forum, where project developers and investors – including pension funds, sovereign wealth funds and private equity firms will review projects, including those in the fields of health, energy and climate, agro-industry and ICT and telecommunications sectors.
The African Development Bank‘s Forum for Investment in Africa team presented several likely boardroom arrangements during investor roundtables held virtually in September, October and November. Market Days 2021 will highlight these investments. One is a potential investment in building a $ 45 million World Health Organization prequalified vaccine production plant in East Africa. The plant will be able to routinely produce three types of vaccines, including one against Covid-19.
Another agreement – in the agribusiness sector – concerns the scaling up of a dairy milk production and packaging company in southern Africa. Project sponsors have entered into a sales agreement with a large international food and beverage company for milk production. The deal, valued at $ 50.2 million, has strategic value to the host government in terms of job creation and skills development.
Board sessions, where deals close to closing, will also feature projects led by women and representing Africa’s creative industries.
During the three-day event, there will also be plenary sessions featuring a discussion on how to mobilize institutional finance, the role of disruptive innovations such as fintech and cryptocurrencies, and the value of women in as champions of investment.
Market Days 2021 will look back at the achievements and highlights of the second edition, held in Johannesburg in 2019. Then, fifty-seven deals worth around $ 68 billion were discussed, including a strategic liquefied natural gas development project in Mozambique, which represents Africa’s largest foreigner. direct investment.
The closing day of the forum will reveal the results of the board room of Market Days 2021. The Africa Investment Forum’s agreement monitoring tool monitors the progress of investor commitments made during the forum, establishing a path to the fence.
African Development launched the Africa Investment Forum in 2018 with seven other founding partners, namely Africa 50; the African Finance Corporation; the African Export-Import Bank; the Development Bank of Southern Africa; the Trade and Development Bank; the European Investment Bank; and the Islamic Development Bank.
The Africa Investment Forum has 118 outstanding deals from the eight founding members, with an investment value of over $ 110 billion.
Olufemi Terry | Communication and External Relations Department | African Development Bank | email: [email protected]