• The 2025 AIF in Rabat mobilized $15.26 billion across 39 projects, signaling a shift from "potential" narratives to immediate action.

• Stakeholders including Ethiopian Airlines advanced critical deals, such as the Bishoftu airport and a major fiber-optic infrastructure project.

• As Angola and Ethiopia eye hosting the next event, leaders emphasized rigorous follow-up to implement the $15.26 billion in commitments.

The 2025 Africa Investment Forum (AIF) Market Days wrapped up in Rabat on November 28, marking a key milestone in regional project financing. From November 26 to 28, the forum attracted over 2,000 attendees, 32 sponsors, and $15.26 billion in investment interest, showing momentum to shift from discussions to bankable deals. 

The Boardroom Engine: 39 Projects, Diverse Stakeholders

While the specific details of each transaction remain confidential, the mobilized capital aims to support approximately thirty-nine high-impact projects vetted through the forum's signature "boardrooms." According to Max Gor from AFDB, the conclusion of the event signals the start of the institution acting as the lead arranger to secure the commitments.

A notable highlight of the discussions was Ethiopian Airlines Group's push to develop the new international airport in Bishoftu. Additionally, the African Development Bank (AfDB) emphasized its role as the lead arranger for private-sector mobilization in a significant fiber-optic infrastructure project, highlighting the forum's emphasis on connectivity and logistics.

The Market Days served as a gathering point for a diverse financial ecosystem. Beyond traditional development finance institutions (DFIs), the sessions included active involvement from Export Credit Agencies (ECAs), technology firms, and private entrepreneurs, all working together to de-risk and structure complex deals.

The tone of the forum was characterized by a rejection of the old "potential" narrative in favor of taking immediate action. Dr. Sidi Ould Tah, President of the Africa Development Bank (AfDB), gave an inspiring assessment of this paradigm shift. Addressing the delegates, he stated that the world no longer needs to "discover" Africa.

"Over the past three days, we have moved from conversation to meaningful action, turning our shared vision into tangible projects that our forum will implement. We have strived to close the gaps between opportunity and capital, between aspirations and achievements, between the public and private sectors," he declared. 

Bridging the Gap Between Opportunity and Capital

Nadia Fettah Alaoui, Morocco’s Minister of Economy and Finance, officially announced the $15.263 billion figure during the closing ceremony. She framed the success of the Rabat edition as a victory for financial engineering and strategic alignment. "We have endeavored to bridge the divides between opportunity and capital. Between aspirations and achievements," Minister Fettah Alaoui remarked.

She emphasized that boardrooms are not just about closing deals but also about aligning with four main priorities: improving access to capital, reforming the financial structure, leveraging the demographic dividend, and building resilient infrastructure. "The deals we have closed are a crucial first step... [but] they are not enough. We must continue to ensure they lead to tangible transformation," she added.

Above the celebratory mood surrounding the $15.26 billion announcement, the closing speeches carried a forward-looking tone regarding implementation. Both Ould Tah and Fettah Alaoui stressed the importance of thorough follow-up. "What’s important to us is not only to announce a figure but to ensure that the amounts named here are translated into reality, into projects implemented on the ground for the benefit of investors as well as African populations," Ould Tah noted.

At the same time, Minister Fettah Alaoui emphasized that success is measured not by announcements but by "projects implemented on the ground." As the delegates left Rabat, the host city for the next edition of the Africa Investment Forum, the host city remains an option. Angola and Ethiopia have already expressed interest in hosting the event, and Morocco is eager to participate again. Meanwhile, Mpho Mokwele, Group Executive of Transacting at the Development Bank of Southern Africa (DBSA), showed interest in bringing the event back to their region.

Idriss Linge