The bottom line was $208-billion at the Africa Investment Forum in Sandton this week.
The president of the African Development Bank, Akinwumi Adesina, said the forum was a “game changer” and what distinguished it from any global exchange forum was that it was not just another talk shop, but 100% transactional.
Adesina said the forum had 306 project transactions worth $208-billion, which have been developed.
And investors and promoters discussed 60 projects and deals worth $40-billion with the aim of fast-tracking closure and removing policy and regulatory constraints.
The recurrent theme was: Africa is making a transition from aid to investment through collaboration with the private sector and the removal of policy and regulatory barriers to trade..."
Replies
I’ve been at this for decades And I almost never see these things pan out
These infrastructure projects are all privately owned, like toll roads, that's why the governments have to liberalize regulations
All of the $208 billion were invested in private sector projects like the
- Brass Fertilizer & Petrochemical Project – a US$ 3 billion investment for the construction and operation of a world-class petro-chemical facility to produce Methanol (1.75 mil MTPA), Ammonia (1.35 mil MTPA) and Urea (1.35 mil
- US$10.8 billion Tahir Petrochemicals project
The African Development Bank is launching a website Dec. 1 that will keep track of all the board room deals, totaling $38 billion. I will post a link once it has launched
I have to see more tangible evidence of this.Ive seen so many of these false hope initiatives before
I don't understand what you mean by tangible evidence? Do you mean a live stream of the event because CNBC Africa, the African branch of CNBC, and SABC aired it live. I'll update my post and embed the Video, but first let me provide some clarity on what the AIF is, and how it came about.
The African Investment Forum was created this year, after the signing of the ACFTA, by the President of the African Development Bank, Akinwumi Adesina. He teamed up with other multilateral development agencies, The World Bank's, Inter American Development Bank, International Finance Corporation, Asian Infrastructure Development Bank, Islamic Development Bank etc..,to underwrite investments. Here's one of the deals that was done at the 3 day event
"The government of Ghana has signed a memorandum of understanding with a South Africa-based consortium to build a $2.6bn light rail system in the country’s capital, to be called the “Accra Sky Train”.
Link of President Akinwumi Adesina talking about the AIF:
Click here
It's an annual event. 80% of projects received funding.
First of all is this in USD or Cedi? Why was Ghana just begging for 25 million dollars?Please don’t believe everything you see.African countries don’t deal in billions of dollars yet it’s in millions of that.
"First of all is this in USD or Cedi?"
I just posted a video of President Nana Akufo-Addo signing the MOU, and the symbol for Cedi is GH₵
"Why was Ghana just begging for 25 million dollars?"
Source?
" African countries don’t deal in billions of dollars yet it’s in millions of that."
Are you joking? LMBO.
Africa has a GDP of 3.5 trillion, larger than India's, and growing @ ~ 4%.
Africa's pension funds, insurance funds, and sovereign wealth funds collectively worth more than US$1 trillion.
https://african-exchanges.org/en/media/blog/how-big-are-african-pen...
https://www.afdb.org/en/news-and-events/africa-investment-forum-cal...
The top 10 African banks alone have $500+ Billion in assets.
https://www.worldatlas.com/articles/the-biggest-banks-in-africa.html
https://www.thebanker.com/Banker-Data/Banker-Rankings/Top-100-Afric...
Where are you getting your information from?