The Africa Investment Forum 2024 Markets Days recorded a total of $29,2-billion in new investor interests after three days of boardroom discussions in Rabat, Morocco.
The Chair of the Africa Investment Forum, President of the African Development Bank, Dr Akinwumi Adesina, describes the latest total as “truly outstanding”, adding that it could be even higher as more investments are in discussion than the 37 deals already finalised.
Dr Adesina adds that 2 300 investors and delegates had participated in this year’s Market Days, an increase of 60% over last year. They came from 83 countries. “The waves of the Africa Investment Forum are cascading investment ripples from Africa to all parts of the world … I am proud that we have achieved for Africa.
“Across 41 investment boardrooms, investors and project developers gathered to review, discuss and engage on 37 investment projects,” Dr Adesina adds. “The projects varied from transport, power, energy, agribusiness, industry, mining, pharmaceuticals, private equity, tourism, urban infrastructure, water management and water and sanitation.”
He describes the Africa Investment Forum 2024 Market Days as a rich experience. He announced that the Forum has lined up 15 new sponsors, including banks, insurers and export credit agencies for next year, along with others who’ve expressed interest in joining as new partners.
Morocco’s minister of economy and finance, Nadia Fettah Alaoui, appeals to the African diaspora: “In Africa, the future is happening. We have good projects, we have energy and enthusiasm and we have the money to finance your projects.”
Dr Adesina reveals that many of the projects presented in the boardrooms received investor higher interest than estimated.
For example, he says, state representatives sought to mobilise $975-million for Nigeria’s Special Agro-Processing Zone, but the boardroom sessions garnered $4,8-billion. Similarly, projects initiated by Morocco and the Democratic Republic of the Congo drew investor interest higher than initially targeted.