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The recently held Africa Investment Forum saw more than $32 billion pledged for investment across the continent. The Forum focused on projects spanning several sectors, aiming to help bring them to financial closure. The sectors included energy, infrastructure, transport and utilities, industry, agriculture, ICT and telecoms, water and sanitation, funds/financial services, health, education, hospitality and tourism, housing, and aviation.

More than 32 billion pledged at Africa Investment ForumAround 350 investors from 53 countries across the globe attended the Forum. Thirty African and 23 foreign countries were represented, including the United Arab Emirates, United Kingdom, France, United States, China, Japan, India, Switzerland, Argentina, Austria, Canada, Germany, South Korea, Portugal, Luxemburg, Saudi Arabia, Malta. The top 12 African delegations included South Africa, Nigeria, Ghana, Côte d’Ivoire, Kenya, Angola, Egypt, Tunisia, Morocco, Gabon, Mauritius, and Mozambique.

Ghana and South Africa signed a Memorandum of Understanding at the event for a $2.6 billion Skytrain project in Ghana. The Accra Ai Skytrain is an elevated light rail project that uses air propulsion technology to drive lightweight, high passenger volume vehicles.

A landmark bridge construction project linking Kinshasa and Brazzaville was also signed. The project is a priority project that would help advance the infrastructure and transport agendas of the Democratic Republic of Congo and the Republic of Congo. The bridge will also help diversify the countries’ economies through increased trade and investment. The deal is worth $800 million.

A $400 million Co-operation Agreement between Africa50 and the Government of Rwanda was signed to develop and finance the Kigali Innovation City, and a new partnership between Thelo SA - a rolling stock company in South Africa and Deutsche Bahn – a global leader in the Railway industry was forged. The Thelo-DB joint venture aims to address Africa’s transportation and logistics sector, which is faced with an annual deficit of $62 billion.

“Today is an incredible day. You are here because you have faith. Africa has come of age.  We saw partnership in action. Commitments to make deals. We saw resounding confidence in Africa. Africa is bold,” African Development Bank President Akinwumi Adesina said.

Image credit: https://www.afdb.org/en/about-us/organisational-structure/the-president/

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