Riding the momentum from last year’s Africa Investment Forum Market Days, which garnered an impressive $29.2 billion in investment interest, the nine founding partners are preparing for an even more ambitious event later this year.
The 2024 Africa Investment Forum Market Days attracted over 2,300 investors and participants from 83 countries, featuring more than 40 boardrooms and 15 sponsors, including investment banks, insurers, and export credit agencies. An influx of additional sponsors is anticipated for the 2025 edition.
During a meeting on Monday evening in Washington, DC, coinciding with the World Bank and IMF Spring Meetings, the partners reflected on the Forum’s impressive seven-year journey, which has mobilized upwards of $225 billion in investment interest and positioned itself as a global movement advocating for investment in Africa.
The founding partners include the African Development Bank, Afreximbank, Africa50, Africa Finance Corporation, Development Bank of Southern Africa, Islamic Development Bank, European Investment Bank, Trade and Development Bank, and the recently added Arab Bank for Economic Development in Africa (BADEA).
Dr. Akinwumi Adesina, President of the African Development Bank Group and Chairman of the Africa Investment Forum, stated, “We have elevated and showcased Africa, transforming global perceptions. Our belief in Africa has shown the world that it is indeed a bankable destination.” He emphasized, “Africa’s development will not come from aid; it will come from investment,” a vision that has been the guiding principle of the Forum since its inception in 2018.
The meeting also highlighted the Forum’s success in changing perceptions of African investment and delivering high-quality deal pipelines, with 22 deals completed so far, 41% of which were financed by founding partners and other institutional investors.
Discussions included the Africa Investment Forum Partnership Framework, which aims to ensure the Forum’s long-term sustainability. This governance framework is slated for formal approval at the African Development Bank Annual Meetings in Abidjan, Côte d’Ivoire, in May.
As Dr. Adesina prepares to conclude his presidency at the African Development Bank in September, he expressed deep gratitude to his partners for their unwavering support and dedication to the Forum.
The partners reaffirmed their commitment to the Africa Investment Forum, recognizing its capacity to mobilize essential investments for transformative projects across the continent. Alain Ebobise, CEO of Africa 50, underscored the Forum’s focus on actionable transactions rather than mere speeches, stating, “We are ready to welcome more sponsors.”
Samaila Zubairu, President and CEO of Africa Finance Corporation, remarked, “As Africans, we must take ownership of our development, a principle that the Africa Investment Forum exemplifies.”
Boitumelo Mosako, CEO of the Development Bank of Southern Africa, emphasized, “The only way to ensure a certain future is by creating it.”
Admassu Tadesse, President of the Trade and Development Bank, praised last year’s Market Days as “fantastic,” highlighting the Forum’s strength as a global brand that fosters collaboration among its founding partners.
Diab Karrar, Director of the Private Sector at BADEA, reaffirmed their support for the initiative, stating, “Though we officially joined last year, we have always believed in the Africa Investment Forum.”
Haytham El Maayergi, Executive Vice President of Global Trade Bank, Afreximbank, reiterated a strong commitment to the Forum, while Andrew McDowell, Director General of the European Investment Bank Global, discussed the value of institutional collaboration in making informed investment decisions in Africa.
In conclusion, Adesina stated, “It has been my greatest honor to develop and advance the Africa Investment Forum with all of you. Let us continue to accelerate Africa’s development together, both now and in the future!”
