African Development Bank (AfDB) to launch its first ever Investment Forum
The African Development Bank (AfDB) will officially launch the Africa Investment Forum (AIF) − on April 19, 2018 in Johannesburg, South Africa, the Bank announced today.
The launch is a forerunner to the first-ever Africa Investment Forum, which will take place in South Africa’s commercial capital later in the year – from November 7-9, 2018.
The African Development Bank’s Africa Economic Outlook 2018 indicates that Africa’s infrastructure requirements amount to US $130-170 billion a year. To address these challenges, the African Development Bank is championing the Africa Investment Forum as a platform to actively engage the private sector and to facilitate projects that have the capacity to transform the continent. AIF is designed to enhance private-sector cooperation and drive investment in sectors of strategic interest within Africa.
“This is not a talk shop. There will be no political speeches. The AIF provides an open platform to organise efforts among multilateral institutions, governments and private sector to improve a pipeline of projects capable of transforming the continent”, said Akinwumi Adesina, President of the African Development Bank.
Adesina will be joined by some Bank Executives, the Premier of the Gauteng Province, Government officials, and the Gauteng Business Community, at the launch which takes place at Sandton Sun in ther heart of Johannesburg.
The AIF will harmonise processes among the Bank and its partners, reduce intermediation costs, improve quality of project information and documentation, and increase action-oriented engagements between African Governments and the private sector.