africa Banking development Events Finance

US$1.2T needed for Africa’s development needs annually

The second edition of the Africa Investment Forum, a game-changer to tilt capital flow into the continent, will take place from November 11-13, 2019 at the Sandton Convention Centre in Johannesburg, South Africa.

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.

The forum, organised by the African Development Bank and its partners, is the largest multi-stakeholder and multi-disciplinary market place aimed at raising capital, advancing projects to bankable stage and accelerating financial closure of deals.

There is an urgent need to bridge the gap between Africa’s available capital and bankable projects.

The regional bank 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 inaugural edition 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 coming indaba is set to be the biggest transactional gathering of global and pan-African investors on the continent.

Source: Chronicle

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