Africa In­vest­ment Fo­rum seals deals worth $32bn

Public Sector Manager - - In Other News -

The in­au­gu­ral African In­vest­ment Fo­rum (AIF) has cul­mi­nated in 45 deals worth US$32 bil­lion in in­vest­ment.

The deals cover sec­tors such as en­ergy, in­fra­struc­ture, trans­port, util­i­ties, ed­u­ca­tion, health, wa­ter, san­i­ta­tion, agri­cul­ture and hous­ing, or­gan­is­ers told me­dia at the

end of the sum­mit.

Th­ese in­vest­ments are a sig­nif­i­cant 80 per­cent of the tar­get set out at the start of the sum­mit,African De­vel­op­ment Bank Pres­i­dent Ak­in­wumi Adesina said re­cently.

At the start of the sum­mit, the bank in­di­cated that there would be about 28 board­room ses­sions struc­tured to de­lib­er­ate on 61 bank­able projects worth US$40 bil­lion across the con­ti­nent.

Of the US$32 bil­lion, US$6.8 bil­lion are in­vest­ments in South African projects, Gaut­eng Premier David Makhura said.

The deals that South Africa sealed in­clude the Gau­train ex­pan­sion project worth US$3.9 bil­lion, US$240 mil­lion in in­vest­ment for a pub­lic–pri­vate part­ner­ship to­wards the build­ing of schools, as well as an in­vest­ment of US$492 mil­lion to­wards the ren­o­va­tion of gov­ern­ment build­ings.

Premier Makhura said the province is ex­cited to be part of the in­vest­ments.

“There was a stam­pede of in­vestors want­ing to fi­nance the Gau­train. We want to in­crease the level of in­vest­ment in the Gaut­eng and South African econ­omy. In­tra-Africa in­vest­ment is very crit­i­cal for the ad­vance­ment of the African con­ti­nent,” he added.

De­spite the im­pres­sive agree­ments, Adesina said an equally im­por­tant achieve­ment of the fo­rum was the pos­i­tive nar­ra­tive that had emerged about the con­ti­nent.

The fo­rum, Adesina said, has sent a bold state­ment to the rest of the world that Africa is ready for in­vest­ment, that Africa ab­sorbs in­vest­ments and that lead­ing African fi­nan­cial in­sti­tu­tions are putting their full fi­nan­cial weight be­hind the con­ti­nent.

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