Forum to mobilize billions of dollars for Africa’s infrastructure

The biggest forum set to take place next month in Johannesburg, South Africa aims to raise billions of dollars of investments towards 24 African countries infrastructures development.

Spearhead by the African Development Bank (AfDB), the second edition of the Africa Investment Forum is considered as a game-changer to tilt capital flow into the continent. The inaugural edition held last year broke the mold for investment in Africa. It featured some 63 projects from across 24 countries and seven sectors valued at $46.9 billion.

The second edition forum, organized AfDB and its partners, is the largest multi-stakeholder and multi-disciplinary marketplace aimed at raising capital, advancing projects to bankable stage and accelerating financial closure of deals, according to AfDB’s press statement.

“There is an urgent need to bridge the gap between Africa’s available capital and bankable projects. Although brimming with investment opportunities, financing Africa’s development needs will require between $200 billion and $1.2 trillion yearly. Of this, about $130-$170 billion a year is needed for infrastructure, according to data by the African Development Bank,” it said.

Currently AfDB is working with other multilateral development partners and stakeholders to ensure that the Africa Investment Forum becomes the continent’s key springboard for investment to meet the massive infrastructure and development needs.

“Like the previous edition, the 2019 Forum will bring together project sponsors, pension funds, sovereign wealth funds, private investors, policy makers, private equity firms, and heads of government to advance Africa’s economic transformation agenda,” the statement said.