Africa Investment Forum 2019 ended with $40.1bn deals signed, Know its key momentsDevdiscourse News Desk | Johannesburg | Updated: 18-11-2019 12:01 IST | Created: 14-11-2019 12:53 IST
The second Africa Investment Forum ended on a high note on Wednesday, November 13 in Johannesburg, South Africa with 56 boardroom deals valued at USD 40.1 billion tabled - a 44 percent increase from 2018.
It was the deal that brought participants to the 2019 Africa Investment Forum and they were not disappointed. Fifty-two deals worth USD 40.1 billion secured investor interest compared with $37.8 billion dollars last year. During the 2018 edition of the Forum, 61 transactions valued at USD 46.9 billion were tabled for discussions in boardroom sessions and 49 deals worth USD 38.7 billion, secured investment interest.
Akinwumi Adesina, the President of the African Development Bank President said after Presiding over the session "Unveiling the Boardroom Deals" that was the spirit of the Africa Investment Forum: "transactions, transactions, transactions. Deals, deals, deals!"
Over 2,221 participants attended this year's Forum from 109 countries, 48 from Africa and 61 from outside of Africa. They came from government, the private sector, development finance institutions, commercial banks, and institutional investors. 'The Forum is a platform that will change Africa's investment landscape," Chinelo Anohu, the Forum Senior Director said. "Africa is ready to engage on its own terms."
Here are the key moments of the 2019 Africa Investment Forum included:
- A USD 600 million COCOBOD deal for Ghana, for cocoa processing, warehousing and processing
- A USD 58 million for the Alithea Identity Fund for women
- A concession agreement for the Accra Sky Train, worth USD 2.6 billion.
The 2019 Africa Investment Forum focused on projects and advancing deals spanning several sectors, including Energy, Infrastructure, Transport and Utilities, Industry, agriculture, ICT and Telecoms.
"Now the hard work begins to fast-track these deals to financial closure… Africa is bankable," Adesina said.