Support towards Africa’s private sector

PARTNERS of the Africa Investment Forum believe increased and decisive investment will be the channel for Africa’s economic recovery post-COVID-19.

There is confidence in Africa’s potential to recover from the ongoing crises in the economy and health.

Africa will come out of this pandemic, tough as it is, and will build better and stronger economies.

Africa needs help to reboot its economy.

The Africa Investment Forum has revealed 15 projects under its Unified COVID-19 Response, identified across five sectors for priority funding consideration.

The five sectors include energy, agriculture and agro-processing, health, ICT and telecoms and industrial and trade.

The 15 deals are from the forum’s current portfolio which amounts to US$3,79 billion and will help the continent increase self-sufficiency and resistance against future shocks.

The Africa Investment Forum is concentrating not just on the health sector, but also on other sectors that will help jump-start recovery across the continent.

Deals that are more responsive to the pandemic should be initiated, in order to provide much-needed support to the private sector.

Through deal tracker mechanism, top firms should continue supporting project sponsors beyond boardroom meetings.

The deal tracker mechanism monitors the conversion of investment interests to financing commitments and facilitates the progress of deals towards financial closure.

Top financiers should work to accelerate the closure of Africa’s investment gaps.

In Africa, agriculture accounts for two-thirds of livelihoods and food accounts for two-thirds of the household budgets of poor people.

It makes up a very important part of the lives of African people, but in spite of it, it apparently receives very little attention from the governments.

The low productivity levels of agriculture in Africa have resulted in a worrisome scenario: it does not meet the growing demand for food from urban centres. The region is increasingly dependent on food imports.

For a continent with such a vast area, a booming young population and tropical climate, it is surprising that Africa is not a net exporter of agricultural products.

In the 1970s, Africa provided 8% of the world’s total agricultural exports.

Today, this number dropped to a negligible 2%.

New Farmer