Africa Investment Forum 2019 vows to unlock more investments, huge profitable opportunities

The 2019 Africa Investment Forum opened on Monday, November 11 living up to its promise to move from commitment to action.

A USD 500 million equity deal presented by the Africa Infrastructure Investment Fund last year, to speed up investments in agriculture, and a USD 175 million equity transaction from the Africa Guarantee Fund for investors to support Small and Medium Size Enterprises, are among the transactions that found financial close over the past year.

The opening ceremony of 2019 Africa Investment Forum was attended by President of South Africa Cyril Ramaphosa, President Nana Akufo Addo, President of Rwanda Paul Kagame and Prime Minister of Mozambique Carlos Agostinho do Rosário.

“The time is now to move with speed to ensure that we unlock our potential…Indeed our continent is ripe for investments, but more importantly, it is also brimming with enormous profitable opportunities,” South Africa’s Head of State, Cyril Ramaphosa said in his address, as he urged investors to move beyond pledges.

“As the investor community, your presence here shows your unwavering will to help us and support us to succeed. I invite you, therefore, to join us as we pass the flickering torch of progress across every border of this great continent until the light of development and economic prosperity illuminates every African village, every African town, every African city, in every African household.” he said.

The Africa Investment Forum is an innovative, multi-stakeholder transactional marketplace conceived by the African Development Bank, aimed at raising capital, advancing projects to the bankable stage, and accelerating financial closure of deals.

The inaugural Africa Investment Forum secured investment interests for deals valued at USD 38.7 billion in less than 72 hours. “A lot of progress has been made on these investment interests,” with a highly dedicated team of partners working around the clock to accelerate financial closure for transactions,” African Development Bank President Akinwuni Adesina said.

Another transaction tabled last year – a USD 600 million transaction for COCOBOD to help improve processing and value addition for cocoa - has also reached financial close, and will be signed during this edition of the Forum. Similarly, South Africa’s USD 350 million beef agro-processing project has reached financial close.

“Promise made, promise kept,” said Adesina. He noted that Mara Phones Ashish Takkhar made a commitment during the 2018 Forum. “In 2019, he delivered.”

“It is a new, more confident Africa. A continent now aware of its place in the world and determined to be a global investment haven. And Africa is harnessing investors’ interests and investments. Welcome to the Africa Investment Forum, the place to be for investors,” he said.

Several leading figures were in attendance including, the Premier of Gauteng province, David Makhura; Tito Mboweni, Minister of Finance and African Development Bank’s Governor for South Africa; Dr. Nkosazana Dlamini Zuma, Minister of Cooperative Governance & Traditional Affairs and Ibrahim Mayaki representing the chairperson of the African Union Commission. Minister Philip Mpango from Tanzania; Minister Jean Jacques Bouya from the Republic of Congo; Mr. Vital Kamerhe from the Democratic Republic of Congo were among the high-level delegates who took part in the opening ceremony. Executive Governors from Nigeria, including Kayade Fayemi of Ekiti State; Okezie Ikpeazu of Abia State, and Adulrahman Abdurazaq of Kwara State.

The Africa Investment Forum runs from November 11 to 13 in Johannesburg, South Africa.