Public Management

Push for Africa Investments: Finance Institutions Join Forces to « Deliver As One For Africa »

Wednesday, 07 November 2018 18:32
Push for Africa Investments: Finance Institutions Join Forces to « Deliver As One For Africa »

(AFRICAN DEVELOPMENT BANK) - The African Development Bank President Akinwumi Adesina on Tuesday made an impassioned call for investors to join the partnership platform offered by the Africa Investment Forum and « grab the chance to fast track the continent’s investment and development agenda ».

His message was a clarion call to regional and global investors, financial sector leaders and prominent government officials who filled the Africa Room auditorium of the Sandton Convention Centre in Johannesburg, South Africa, for a plenary session entitled “Delivering As One for Africa,” on the first day of the Forum.

We must fast track Agenda 2063,” Adesina urged. “To deliver as one. We are impatient to get there,” he added.

The opening plenary featured heads of leading Development Finance Institutions and Forum partners, including Patrick Dlamini, CEO, Development Bank of Southern Africa; Professor Benedict Oramah, President, the Africa Export-Import Bank; Dr. Bandar M. H. Hajjar, President, Islamic Development Bank; Admassu Tadesse, President, Trade and Development Bank; Alain Ebobisse, CEO, Africa 50; Mallam Samaila Zubairu, CEO, Africa Finance Corporation.

The Bank’s partners acknowledged that with all the multilateral institutions in the room they had the capital needed to tilt the investment balance and channel much needed investments into Africa.

Officially kicking off the Forum, Manemolla David Makhura, Premier of Gauteng referred to the Africa Investment Forum as ‘historic and the first of its kind.’  He further indicated that Africa needs to move from poverty to prosperity. ‘We want the 21st to be the African century,’ he told delegates.

The Africa Investment Forum is the first ever transaction-based Forum, “This is not an event. It is a platform where governments, private sector, investors, and project promotors come together. We develop quality bankable projects, de-risk them and actually make sure it happens,” Adesina said.

We are committed to fast track development. We know countries do not develop from aid but by the discipline of investment. We require broad-based partnerships and collective effort with the private sector and institutional investors,” Adesina further noted, before commending the leadership of Ghana’s President Nana Akuffo-Addo, also present at the opening ceremony.

Panel  members  shared  their  vision and perspectives  on  investments  in  Africa and stressed the urgent need to transition to a new way of working together. This will take scaling up, speeding up and synergizing.

Panelists acknowledged the critical role of African leaders who set the tone in terms of policy and creating conducive environments for businesses to thrive.

The Africa Investment Forum is part of a much bigger drive by the African Development Bank to tap into the vast pool of global capital to fund its ambitious plan to transform Africa. The Bank estimates the continent needs between US$130 billion and US$170 billion a year to fund its critical development needs. Due to tightening budgets, traditional funding sources such as national governments and development institutions like the African Development Bank alone are unable to meet Africa's capital needs.

Global institutional investors and asset owners control US$ 131 trillion Asset Under Management, of which Adesina said, even one percent would be sufficient to close the infrastructure financing gap, estimated at between US$68-US$108 billion.

The Africa Investment Forum runs from 7-9 November, 2018.

About the African Development Bank Group

The African Development Bank Group (AfDB) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 34 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states.

24774 in GestionPublique commande publique

Additional Info

  • communiques: Non
  • couleur: N/A
 
Finance


 
Telecom


Angola, Ethiopia, and Kenya’s debts represent 47% of African debts owed to China,...
Remittances from the Egyptian diaspora reached $5.9 billion in the first...
Côte d’Ivoire will benefit from a $33 million support program from World Bank,...

Live News

Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

Benjamin FLAUX
bf@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.