Africa Investment Forum ends with $40.1 billion deals

The second Africa Investment Forum ended on a high note, Wednesday, with 56 boardroom deals valued at $67.6 billion tabled – a 44 per cent increase from last year.

Fifty-two deals worth $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 $46.9 billion were tabled for discussions in boardroom sessions and 49 deals worth $38.7 billion, secured investment interest.

Presiding over the session: “Unveiling the Boardroom Deals”, African Development Bank (AfDB) President, Dr Akinwumi Adesina, said that was the spirit of the Africa Investment Forum: “transactions, transactions, transactions. Deals, deals, deals!”

There were over 2,221 participants attended at this year’s Forum from 109 countries – 48 in Africa and 61, 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”, he added.

Some key take ways of the Forum included a $600 million COCOBOD deal for Ghana, for cocoa processing, warehousing and processing, $58 million for the Alithea Identity Fund for women and a concession agreement for the Accra Sky Train, worth $2.6 billion.

The 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,” Dr. Adesina said.

Source: GNA