Buoyed by last year’s successful Africa Investment Forum’s Market Days that generated $29.2 billion of investment interest, its nine founding partners are bracing for an even bigger and better event later this year.
The 2024 Africa Investment Forum Market Days attracted more than 2,300 investors and participants from 83 countries around the world, more than 40 boardrooms, and 15 sponsors, including investment banks, insurers, and export credit agencies. Many more sponsors are lining up for the 2025 edition.
Meeting on Monday evening in Washington, DC, on the sidelines of the World Bank and IMF Spring Meetings, the partners reflected on the Forum’s remarkable seven-year journey, which has mobilized more than $225 billion in investment interest and established itself as a global investment movement for Africa.
The partners include the African Development Bank, Afreximbank, Africa50, Africa Finance Corporation, Development Bank of Southern Africa, Islamic Development, European Investment Bank, Trade and Development Bank, and newcomer, the Arab Bank for Economic Development in Africa (BADEA).
The President of the African Development Bank Group and Chairman of the Africa Investment Forum, Dr. Akinwumi Adesina said: “We have elevated Africa. We have showcased Africa. We have changed perceptions on Africa,” adding, “We have shown our belief in Africa, which has demonstrated to the world that indeed Africa is a bankable destination.”
“Africa will not be developed by aid. It will be developed by investment,” Adesina said, a vision that has guided the Forum since its launch in 2018.
The meeting outlined how the Forum has transformed perceptions about investing in Africa while delivering high-quality deal pipelines. To date, 22 deals have closed, with 41% of the financing provided by founding partners alongside other institutional investors.
As Adesina prepares to conclude his tenure as president of the African Development Bank in September, he expressed profound gratitude to the partners for their support and commitment to the Forum.
At Monday’s meeting, the partners unanimously committed to the Africa Investment Forum because of its convening power to mobilize critical investments for transformative projects across the continent.
The President and CEO of Africa Finance Corporation, Samaila Zubairu said, “As Africans we have to take ownership of our development. The Africa Investment Forum is an initiative that demonstrates that.”