More than 300 global investors, ministers, political and corporate leaders will be attending the Africa Development Bank’s two-day virtual Africa Investment Forum (AIF) that is expected to yield at least $58 billion worth of investment.
The forum is Africa’s investment market place where different global stakeholders come together to discuss and close financial deals meant to bridge Africa’s investment gaps. It will run from March 15-17, 2022.
The forum will be attended by at least 11 African heads of state, including Nigeria’s Muhammadu Buhari, Rwanda’s Paul Kagame, DRC’s Felix Tshisekedi, Tanzania’s Samia Suluhu, and South Africa’s Cyril Ramaphosa.
During the opening ceremony for the sessions, Dr Akinwumi Adesina, AfDB President and AIF Chairman, said, “42 project deals with a combined value of $58 billion are expected to be closed during this forum.”
Dr Adesina said investment project deals totalling $80 billion were closed in the previous forums in 2018 and 2019, investment project deals.
This year, East Africa will benefit from a $3.3 billion railway corridor, linking Burundi with Tanzania.
The package also includes a $150 million film academy in Nigeria and a $5 million funding for women-led projects across Africa.